摘要
建立VAR模型对1992-2012年我国股票市场资本化率、周转率与城乡居民收入差距的动态关系进行了分析,并对模型进行了数据平稳性检验、Johansen协整检验、格兰杰因果关系检验。结果表明:股票市场和城乡收入差距之间存在长期关系,其中股票市场的资本化率与收入差距呈正相关,而股票市场的周转率与收入差距呈负相关。这表明随着我国的股票市场的规模不断发展将会拉大城乡收入差距,而通过不断提高股票市场资金流动性可以有效改善城乡收入差距。在此基础上从股票市场发展的角度提出了缩小城乡居民收入差距的政策建议。
Establishing and using the VAR model,the authors of this paper study the effect of capitalization rate and turnover rate on the urban-rural income gap,based on the data from 1992to2012and conduct the data stationary test,Johansen cointegration test,Granger causality test on the model.The results show that there is a long-term relationship between stock market and urban-rural income gap,where there is positive correlation between capitalization rate and income gap,and negative correlation between turnover rate and income gap.These indicate that as the size of China＇s stock market continues to grow,the income gap between urban and rural areas will widen and to continuously improve liquidity in the stock market can effectively narrow the income gap between urban and rural areas.Based on these findings and from the perspective of the development of the stock market,the authors put forward some suggestions and measures to narrow the income gap between urban and rural residents.
出处
《唐山学院学报》
2014年第4期35-38,共4页
Journal of Tangshan University
基金
国家社科基金青年项目(11CJL021)
教育部人文社科青年基金项目(09YJC790040)
福建省软科学项目(2013R0045)
