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本文将股市、楼市与居民储蓄作为一个整体,实证研究三者间的关系。结果表明股市、楼市与居民储蓄间存在联动效应。股市和楼市均对居民储蓄起到一定的分流作用,就总体而言,楼市的分流作用比股市体现得更加明显。而股市分流作用的大小则取决于股市的走势,当股市走强时,分流效应相对更明显,与此同时,尽管存在分流效应,股市的规模与居民储蓄余额却表现为正相关。最后,本文就目前存在的一些问题,给出相应的建议。
In this paper, the stock market, the property market and household savings as a whole, the empirical study of the relationship between the three. The results show that the stock market, the property market and resident savings exist linkage effects. Both the stock market and the property market play a diversionary role in saving residents. As a whole, the diversion of the property market is more obvious than that of the stock market. The size of the stock market diversion depends on the trend of the stock market. When the stock market strengthens, the diversion effect is relatively more obvious. Meanwhile, despite the diversion effect, the size of the stock market is positively correlated with the household savings balance. Finally, this article gives some suggestions on the existing problems.