亚洲四国证券市场国际化比较研究

发布时间：2018-06-05 21:58

本文选题：证券市场国际化 + 亚洲四国　；参考：《华东师范大学》2012年硕士论文

【摘要】：证券市场国际化主要包括证券发行、证券交易、证券经营机构及其业务、证券监管以及证券交易所的国际化。随着全球金融一体化的加深,证券市场国际化——作为金融一体化的重要推动力量,越来越受到世界各国的重视。我国在明确建设上海国际金融中心之后,也开始大力推进本土证券市场国际化进程。与此同时,与我国相毗邻的诸如韩国、印度、新加坡等新兴市场国家也在不断努力提高本国的证券市场国际化程度。本文通过比较韩国、印度、新加坡以及我国的证券市场国际化情况,旨在为我国当前证券市场国际化的推进提供一些有益的启示。首先,通过分析上述亚洲四国的证券市场国际化历程,本文分别总结出各国在证券市场国际化中值得学习的成功经验和值得吸取的失败教训,并认为适时发展本土经济和及时实施配套经济改革,不断完善证券交易所及交易制度,努力培育从事证券活动的机构及个人的国际化水准,严格控制证券市场国际化的节奏,确保证券监管的与时俱进应该值得每一个正在进行证券市场国际化的国家去努力。其次,本文通过三种不同的测度方法,大致测度了上述亚洲四国的证券市场国际化程度,并针对上述三种相应测度结论进行了深层次的探讨,根据前文描述的上述亚洲四国在证券市场国际化方面所采取的不同措施分析产生上述测度结论的原因。最后,本文通过上文对韩国、印度、新加坡以及我国证券市场国际化的定性和定量比较,认为我国在推进与证券市场国际化配套的经济改革,丰富与国际接轨的交易品种,提高上市公司及证券机构整体水平,完善证券监管等方面存在很多值得改进的地方。为此,本文认为我国应尽快实现利率和汇率市场化以及资本项目下人民币的可自由兑换,大力丰富证券交易品种,规范上市公司行为,提高证券机构国际化水准,并不断确保证券监管的与时俱进。综上所述,本文认为,经过我国的不懈努力和尝试,我国的证券市场国际化程度终将不断提高,并最终成为国际化的证券市场。
[Abstract]:The internationalization of securities market mainly includes securities issuance, securities trading, securities management institutions and their business, securities supervision and the internationalization of stock exchanges. With the deepening of global financial integration, the internationalization of securities market, as an important driving force of financial integration, has been paid more and more attention by countries all over the world. After the establishment of Shanghai International Financial Center, China has begun to promote the internationalization of the local securities market. At the same time, emerging market countries such as South Korea, India, Singapore and so on are striving to improve the internationalization of their securities markets. By comparing the internationalization of securities markets in South Korea, India, Singapore and China, this paper aims to provide some useful enlightenment for the promotion of the internationalization of securities markets in China. First of all, by analyzing the internationalization of the securities markets of the above four Asian countries, this paper summarizes the successful experience and the failure lessons of the countries in the internationalization of the securities markets. It is also considered that the local economy should be developed in good time and the supporting economic reform should be carried out in a timely manner, the stock exchange and trading system should be continuously improved, the international standards of the institutions and individuals engaged in securities activities should be cultivated, and the rhythm of the internationalization of the securities market should be strictly controlled. Ensuring that securities regulation keeps pace with the times should be worth every country's efforts to internationalize the securities market. Secondly, through three different measurement methods, this paper roughly measures the degree of internationalization of the securities markets of the above four Asian countries, and makes a deep discussion on the above three corresponding measurement conclusions. According to the different measures taken by the above mentioned four Asian countries in the internationalization of the securities market, the reasons for the above conclusions are analyzed. Finally, through the qualitative and quantitative comparison of the internationalization of securities markets in South Korea, India, Singapore and China, this paper concludes that our country is promoting the economic reform that is compatible with the internationalization of the securities market and enriching the trading varieties that are in line with international standards. To improve the overall level of listed companies and securities institutions, improve securities supervision and so on, there are many areas worthy of improvement. Therefore, this paper holds that our country should realize the marketization of interest rate and exchange rate as soon as possible and the convertibility of RMB under capital account, enrich the variety of securities trading, standardize the behavior of listed companies, and improve the internationalization level of securities institutions. And constantly ensure the securities regulation with the times. To sum up, this paper holds that through the unremitting efforts and attempts of our country, the degree of internationalization of China's securities market will continue to improve, and finally become an international securities market.
【学位授予单位】：华东师范大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F833

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