论资本市场的复杂性及其发展方向  

ON THE COMPLEXITY OF THE CAPITAL MARKET AND ITS PERSPECTIVES

作　　者：伍海华[1] 张嗣瀛[2] 

机构地区：[1]青岛大学经济学院,山东青岛266071 [2]青岛大学复杂性科学研究所,山东青岛266071

出　　处：《青岛大学学报（工程技术版）》2003年第1期11-20,共10页Journal of Qingdao University(Engineering & Technology Edition)

基　　金：国家自然科学基金资助项目(79970114)

摘　　要：从金融复杂性的角度研究了资本市场的复杂性,在突破传统资本市场理论研究的线性框架基础上,以上海股票市场为例,探讨了资本市场的复杂性问题及其此种研究对资本市场研究之理论与实践意义。结合复杂性理论研究的进展,给出了资本市场复杂性研究的协同市场假定、小波理论及自组织临界理论等三个发展方向。This paper discussed the complexity of the capital market in view of the financial complexity.Transcending the linear model of the traditional capital market theories and taking Shanghai stock market as an example,the authors analsized the complexity of the capital market and its theoretical and practical significances.Connecting with the developments of the complexity science,the directions of the study were put forward for capital market complexity,which includes the coherent market hypothesis,wavelet theory and the selforganized criticality theory,etc.

关 键 词：资本市场 复杂性 发展方向 金融 股票市场 

分 类 号：F830.9[经济管理—金融学]