宏观经济参数的变动对我国证券市场的影响

The Impact of the Variation of the Macro Economic Parameters on Our Country's Securities' Market

股市是宏观经济的晴雨表,国民经济的宏观走势对证券市场有着非常重要的影响。但是在我国,由于金融工具缺乏创新,股市又主要受政策因素的影响,所以利率、税率、通货膨胀率这些宏观经济参数的变动对证券市场走势的影响并不明显,有些影响甚至是相反的。深入分析宏观经济参数的变动对我国证券市场走势的影响,以及造成这些影响的原因,不无现实意义。

Securities market is the barometer of macro-economy. The macro trend of national economy has significant effects on the securities market. In China, however, owing to the lack of innovation in financial instruments and the securities market is mainly affected by the policy factors, some changes of macro economic parameters such as interest rate, tax rate, inflation rate have little to do with securities market, some even have adverse influence. It really has realistic meanings to analyze the impact of changes of the macro-economy parameters on securities market's trend in China and the cause of it.