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《Finance Forum》 2005-10
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Institutional Defects in Our Stock Market and Government Behavior in a Transitional Economy

Ni xin  
The stock market in our country was forced into being by our government in the early 90s of the 20th century dominated by planned economy. To guarantee its smooth development, our government formulated a series of basic institutional framework. Decades have passed since and our economic system has been transformed from a planned economy into a market economy. Although adjustments and changes have been made in the fundamental system of our stock market, there are still salient institutional defects impeding the healthy progress of the stock market. In this paper, the existing institutional defects are analyzed in depth. It is pointed out that institutional defects such as market function distortion, split share structure and administration-based market supervision do exist in our stock market due to excessive government interference. To wipe out such defects, it is suggested that a line be drawn again between government and market.
【CateGory Index】: F832.5;
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