货币洪流中演化的中国股价波动复杂度耦合关系——基于2000至2014年数据的经验证据  

Coupling Relationship between China's Monetization and the Complexity of Stock Price in the Period of 2000 to 2014

作　　者：温博慧[1] 

机构地区：[1]天津财经大学经济学院,天津300222

出　　处：《财经论丛》2015年第10期48-57,共10页Collected Essays on Finance and Economics

基　　金：国家自然科学基金资助项目(71103126);天津财经大学优秀青年学者培育计划(YQ1204)

摘　　要：中国货币化程度变迁与股价波动复杂度演化具有动态耦合关系。本文构造系统指标对中国股价波动的复杂性程度进行综合测算,筛选并剔除时间序列内部结构性影响因素,基于耦合模型从协调性与发展度两方面深入探讨并梳理了中国近10年来货币化程度与股价波动复杂度间耦合关系的演化路径。研究发现,中国货币化程度变迁与股价波动复杂度演化的耦合关系在阶段性变迁的过程中,主要经历了由频临衰退到特殊时期的反转,再到危机冲击后的中级协旋进发展思路。The dynamic coupling relationship between China＇ s monetization and the complexity of stock price has be- come an important issue which is worth studying. In this paper, we construct a systematic indicator to measure the complexity of stock price while improving existing measurements ; and after filtering the internal structural factors of time series, we discuss and comb the evolution path of coupling relationship between China＇ s monetization and the complexity of stock price in recent 10 years based on empirical test of the coupling model. The results show that the coupling relationship mainly experienced the reversal of special period from recession and intermediate coordinated development after the crisis. From the point of suitability transition view, there is a still more space to improve the degree of development. We can improve the degree of de- velopment and then enhance the coordination.

关 键 词：货币化程度 股价波动复杂度 耦合关系 协调性 发展度 

分 类 号：F830[经济管理—金融学]