摘要
利用1993年1月到2009年4月的经济金融月度数据,主要应用动态式计量检验方法对M1和M2及其变化与股票价格的关系进行理论分析和实证检验,结果发现:(1)我国M0、M1和M2并不能引起股票价格的变化;(2)在我国新增货币供应量M1的时间趋势图与股票价格变化的走势非常一致;(3)在我国货币供应量M2-M1的增速时间趋势图与上证指数走势也大体一致。
This paper, using the monthly economic and financial data from January 1993 to April 2009, by economic methods and theoretical analysis, examines the relationships between stock prices and the M1, M2. The results are as followings： 1） M0, M1 and M2 do not cause changes in stock prices; 2） The new added supply MI and the changes in stock prices have the consistent movements; 3） In China, the M2-M1 growth rate and the Shanghai Composite Index is also broadly consistent with the trend.
出处
《生态经济》
北大核心
2010年第6期75-77,104,共4页
Ecological Economy
