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为了探究股指期货推出宏观经济对股指的影响,本文采取计量经济学方法对宏观经济因素影响股票市场价格指数的程度进行了研究。首先是在没有推出股指期货的情况下,研究了宏观经济是如何影响股指的,并与推出股指期货之后的影响进行了比较。通过实证研究发现:股指期货推出前后,宏观经济对股指的影响程度不同;股指期货推出后,宏观经济对股指的解释更加充分。
In order to explore the impact of the launch of stock index futures macroeconomic on the stock index, this essay adopts the econometric method to study the macroeconomic factors affecting the stock market price index. The first is to study how the macroeconomy affects the stock index without the introduction of stock index futures and compares it with the impact after the introduction of stock index futures. Through empirical research, it is found that the macroeconomic has different impact on the stock index before and after the launch of the stock index futures. After the introduction of the stock index futures, the macroeconomic interpretation of the stock index is more adequate.