作　　者： ; ;

机构地区： 广东商学院金融学院

出　　处： 《财经科学》 2004年第4期10-14,共5页

摘　　要： 本文对 1992～ 2 0 0 2年的经济数据分析表明 :中国股市存在微弱财富效应 ,金融资产的MPC =0 0 4 86 ;股市财富效应对消费的影响占总消费变动的平均比例仅为 0 84 %。形成这种状况的重要原因有 :股票价值占GDP的比例较小 ;居民在股票等方面的财产性收入较低。因此 ,要采取措施提高股票市值占GDP的比例 ,扩大股票资产占居民资产的比重 ,提高财产性收入的比例 ,提高股市财富效应对消费的促进作用。 This paper analyzes the economic data from 1992 to 2002, and it shows: Wealth effect of stock market exists weakly; MPC of financial asset is 0.0486; the average ratio of influence of wealth effect on aggregate consumption is only 1.33%. The main causes are as follows: the ratio of stock value in GDP is very small; the income of properties including stock and so on is small too. In order to strengthen the influence of wealth effect of stock market on consumption, we should take the following measures: enlarging the ratio of stock value in GDP; enlarging the ratio of financial asset in family; enlarging the ratio of income of properties; and maintaining the stable expectation in stock market.

关 键 词： 财富效应 资产结构 收入结构 实证分析

领　　域： [经济管理]