股市泡沫研究

A Study of the Stock Market Bubble

本文研究了股票市场中确定股票泡沫的理论方法与计量方法 ,描述了股票泡沫的生成、膨胀和破裂的过程及机理 ,分析了消除股票泡沫的具体手段和方法 ,并对上海、深圳股市中的泡沫进行了实际测算 ,得出了一些有趣的结果。

This paper studies the theoretical and quantitative approaches to the determination of stock bubble in a stock market,describes the process and mechanism of stock bubble′s formation,inflation and burst,and analyzes concrete measures and approaches to eliminate the stock bubble.The paper also measures the bubble level of the two Chinese stock markets,one in Shanghai and the other in Shenzhen and draws some interesting conclusions.It has some realistic significance and reference value in terms of eliminating and controlling the risks in the Chinese stock markets.