本文根据货币供应量与上证综指同比增幅的数据,对货币供应量与股票价格的关系作出了实证的分析。先分析不同层次货币与上证综指的关系,得到上证综指显著影响准货币的结论,再通过结构式模型分析得到上证综指影响货币供应的传导机制。 Based on the increase of money supply and Shanghai Composite Index, this paper makes an empirical analysis of the relationship between money supply and stock price. First, the paper analyzes the relationship between different levels of currency and the Shanghai Composite Index and obtains the conclusion that the Shanghai Composite Index significantly affects the quasi-currency. Then, through the structural model analysis, it obtains the transmission mechanism of the Shanghai Composite Index that affects the money supply.