完全与不完全资产市场理论的一致性

On the Relationship Between Complete and Incomplete Financial Market

本文通过建立一个包含完全市场与不完全市场的统一经济模型,从理论上阐述了不完全市场与完全市场的联系、区别及效率性。提出现实生活中如何把不完全市场转化为完全市场,从而使市场的效率增加。最后,针对现实的不完全市场,提出三种与之相应的制度安排。

The paper shows us one model which combines complete market with incomplete market. The paper researches on the relationship between incomplete market and complete market from economies theory. The paper also puts forward the way that transforms incomplete market into complete market. Finally, the paper gives three kinds of institutional arrangements under practical incomplete environment.