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随着我国经济体制改革的不断深入,我国资本市场不断发展和完善,股票市场对我国经济的发展所起的重要作用越来越明显。根据国外学者研究表明,股票市场的发展会促进实体经济增长,这与经济理论分析是一致。而最近几年国内学者研究表明,我国股票市场的发展与实体经济增长之间出现了背离关系。本文就运用Johansen协整法和Granger因果检验来论证我国股票市场与经济增长之间是否存在背离性。
With the continuous deepening of China’s economic reform, the constant development and improvement of China’s capital market and the significant role that the stock market plays in the economic development of our country have become increasingly evident. According to the research of foreign scholars, the development of the stock market will promote the real economy growth, which is consistent with the economic theory analysis. In recent years, domestic scholars have shown that the development of China’s stock market and the real economy there is a departure from the relationship between growth. This article uses Johansen Cointegration and Granger causality test to prove whether there is a deviation between the stock market and economic growth in our country.