Economic Equilibrium and Growth under Capital Market Internationalization (Also Discussing the Economic Performance during the Process of Capital Market Internationalization in China)

Author: Sun Feng
Publisher:
Publish Date: 2005-09-01
Features: This book takes the new changes in the internationalization of the capital market as its background and systematically studies the issues of economic growth and equilibrium under the conditions of capital market internationalization. The author's unique contribution broadens the scope of macroeconomic research to the micro level, thereby identifying the microfoundations for external shocks and the resulting macroeconomic fluctuations caused by these shocks. From a macroeconomic perspective, the author discusses the issues of economic equilibrium and growth under capital market internationalization, with the core idea being to treat the internationalized capital market as one of the variables in a country's economic system, thereby exploring the operation, optimal equilibrium trajectory, and growth trajectory of its open economy system, as well as how the country's economic system would dynamically adjust when subjected to monetary shocks from the internationalized capital market. In studying such macroeconomic issues, the author primarily employs microeconomic analytical methods. The book's approach to addressing macroeconomic issues through microeconomic methods aligns with such trends. The book emphasizes the behavior of market microagents and explores the laws governing market operations and the disturbances caused by external shocks from a microlevel perspective.