日、韩、台证券市场的国际化发展及启示徐向艺，何宁一、证券市场国际化对经济的作用证券市场国际化是指证券发行、证券投资和证券流通在国际间的自由化，即本国筹资者可以到外国发行证券，本国居民可以投资于外国证券；同时，外国人也可以在本国证券市场发行证券，或投资... Internationalization and Development of Japan, South Korea and Taiwan Stock Market XU Xiang-Yi, HE Ning-Yi The Role of Internationalization of Securities Market in the Economy The internationalization of securities markets refers to the international liberalization of securities issuance, securities investment and securities circulation Investors can issue securities to foreign countries and their residents can invest in foreign securities while foreigners can also issue securities in their securities markets or invest ...