一、经济发展与资本市场一部经济史,就是企业兴衰更替的历史,在企业的设立、成长、衰落和解体的全过程中,如果企业面临的障碍和耗费的资源达到最小化,一国经济就会取得广泛、深入的发展。显而易见,资本市场的运行机制能够为这一过程提供便利。因此,政策制定者面临的问题在于,如何通过资本市场实现资源的优化配置,即怎样构建资本市场。如果一个国家的资本市场有利于私人部门融资,该国经济就会取得更充分的发展。在很多国家,中小企业的发展受到阻碍,其原因正在于缺乏足 I. Economic Development and Capital Market An economic history is the history of the rise and fall of enterprises. If the obstacles and costly resources that enterprises face are minimized during the establishment, growth, decline and disintegration of the enterprises, the economy of one country It will achieve extensive and in-depth development. Obviously, the operating mechanism of the capital market can facilitate this process. Therefore, the policy makers face the problem is how to achieve optimal allocation of resources through the capital market, that is, how to build a capital market. If a country’s capital markets are conducive to private sector financing, the economy will achieve more development. In many countries, the development of small and medium-sized enterprises is hindered because of the lack of sufficient resources