金砖国家证券市场开放度研究

A Study of the Securities Market Openness in BRICs

基于定性的名义测度方法和定量的实际测度方法,对金砖国家证券市场开放的流出、流入和总开放程度进行的测算结果显示:名义测度方法和实际测度方法测算的金砖国家证券市场流入开放度和总开放度具有较强的相关性,但巴西、俄罗斯和印度在流出开放度上两类方法存在着一些差异,显示了政府开放的意愿与实际开放结果的差异。

Based on the qualitative nominal measure method and the quantitative actual method, this paper conducts a measurement on the outflow, inflow and the general openness of the securities markets in BRICs. The results show that there is a stronger relationship between the inflow openness and the general openness of the securities markets in BRICs measured by the nominal measure method and the actual method. However, there are some differences between the two methods used to measure the outflow openness in Brazil, India and Russia, which indicates that there are some differences between the willingness of opening of the governments and the actual results of the openness.