摘要
2007年在美国开始爆发的次贷危机至今已演变为全球性金融危机。本文在当前金融危机的背景下,研究了中国内地证券市场与世界主要证券市场的联动效应。研究结果表明,随着金融危机的爆发与深化,中国内地证券市场与世界证券市场的联动效应也发生了相应的变化。尤其在金融危机深化时期,这种联动效应明显增强。此外,中国内地证券市场对德国与香港证券市场有显著影响。
The outbreak of sub-prime lending crisis in 2007 has evolved into global financial crisis. Under the circumstance of the current financial crisis, this paper studies the interaction effect between the China mainland securities market and the international securities markets. The results demonstrate that with the outbreak and deepening of the current financial crisis, there＇s a corresponding change in the interaction effect between the China mainland securities market and the international securities markets. Especially during the deepening period of the crisis, this interaction effect has significantly intensified; in addition, the China mainland securities market has a significant influence on the German and Hong Kong securities markets.
出处
《管理评论》
CSSCI
北大核心
2009年第2期33-39,91,共8页
Management Review
基金
教育部博士点专项科研基金资助项目(20070532091)。
关键词
证券市场
联动效应
金融危机
securities market
interaction effect
financial crisis
