10384 200106013 UDC The Policy Risk and Prevention in Chinese Securities Market 2004 5 2004 2004 2004 5
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Abstract Many scholars have discussed the question about the influence of the policy on Chinese securities market. But the essence of the policy in securities market is a kind of public policy. So, we should study this subject not only from the angle of economics, but also from the angle of politics, public administration and policy sciences. The present thesis will research the policy risk in Chinese securities market from the angle of policy sciences and put forward some countermeasures. This thesis consists of four parts: Part :Securities Market, the Policy and Risk in Securities Market. This part explains some basic concepts (securities market, the policy in securities market and policy risk etc.) and demonstrates the necessity of researching the policy risk in Chinese securities market. Part :The Policy Types and Policy Risk in Chinese Securities Market. This part summarized the types of the policy in Chinese securities market and points out the policy risk in Chinese securities market. Every argument is well grounded with real examples. Part :Causes of the Policy Risk in Chinese Securities Market. This part dealt with the causes of the policy risk in Chinese securities market by applying the theory of the Policy Sciences. Its clew of the research is the entire process of the public policy. Part :Prevention of the Policy Risk in Chinese Securities Market. This part discussed how to prevent the policy risk in Chinese securities market from three aspects, which are its function and frame, the transfer of both the governmental role and the ways of supervision, and perfection of the policy process and innovation of the market institution. The policy risk is always the biggest potential trouble in Chinese securities market. The innovation of the present thesis lies in the fact that it applies the basic theory of policy sciences to analyze policy risk in Chinese securities
market. In this thesis, many arguments have never been dealt with academically before, for example, types of the policy and the causes of policy risk. In view of the difficulty of this subject and my limited academic ability, I only make a preliminary research on the policy risk. Perhaps, the measures are unilateral. Meanwhile it is open to further research. Key words: Securities market; Policy; the Policy Risk.
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Contents Introduction 1 Part Securities Market, the Policy and Risk in Securities Market 2 1. The Meaning, Participator and Function of Securities Market 2 2. The Policy in Securities Market 3 3. The Policy Risk in Securities Market 4 4. The Necessity of Researching the Policy Risk in Chinese Securities Market 6 Part The Policy Types and Policy Risk in Chinese Securities Market 9 1. The Policy Types in Chinese Securities Market 9 2. Manifestation of the Policy Risk in Chinese Securities Market 13 Part Causes of the Policy Risk in Chinese Securities Market 21 1. Causes of the Risk in Policy-Making Phase 21 2. Causes of the Risk in Policy-Implementation Phase 30 3. Causes of the Risk in Other Phases of Policy Process 36 Part Prevention of the Policy Risk in Chinese Securities Market 42 1. Correcting the Function of Market and Overcoming the Bug of Stock Frame 42 2. Rationalizing the Supervision Relation and Transferring the Government Role 44 3. Perfecting the Policy Process and Promoting Innovation of the Institution 50 Conclusion 55 References 56
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4 Haynes.J 1895 1998 59 1982 9 1998 56 61 1989 1726 2000 383 2000 383
5 [ ] 1998 3 [ ] 1997 27 2002 223 2000 12 1998 355 1998 213
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