针对宏观经济增长与股市的相关关系,基于VAR模型,使用ADF、协整检验,并建立脉冲响应函数,探讨两者间的相互传导机制,得出宏观经济与股市间存在互动关系,即宏观经济的基本面变动能够对股市产生重要影响,同时股市与宏观经济的发展也会出现背离的现象。最后通过所得的结论为提高股市的稳定以及促进宏观经济的健康发展提出可行性建议。 Aiming at the relationship between macroeconomic growth and the stock market, based on VAR model, ADF, cointegration test and impulse response function are established to explore the mutual conduction mechanism between the macroeconomy and the stock market. The fundamental changes can have a significant impact on the stock market, while the stock market and macroeconomic development will be deviated from the phenomenon. Finally, through the conclusion we can put forward feasible suggestions to improve the stability of the stock market and promote the healthy development of the macroeconomy.