| China's stock market has been established for nearly 30 years.In the last 30 years.China's stock market system has been perfected.At the same time,in the tide of economic globalization and financial integration,China's stock market has also been open after the events of joining the WTO,the establishment of the QFII and the QDII system,and the connection with the international stock market has deepened.There were a lot of big things in an open process,such as the stock market crash of 2015.In June 2015,China's stock market experienced a continuous collapse,which is the phenomenon of 1000 shares down.The 2015 stock market is a major event in China's stock market in recent years.In the period of the stock market,the study of the linkage of volatility between the Chinese stock market and the international stock market is beneficial to the study of the impact of the financial crisis on the global market today,and also to provide some opinions on the measures to be taken to resist the foreign financial crisis in the future.This paper,based on the linkage of the volatility of the global stock market in the period of the stock market,divides the period of the stock market into three periods before,after and after the stock,and compares the impact of the disaster on the linkage of the global stock market rate of return.First of all,the paper introduces the reasons and channels of stock market interaction,and analyzes the possible ways of stock linkage during the stock market crash.In the empirical analysis,we use the DCC-GARCH model to analyze the fluctuation of stock returns in different periods of stock market crash,and to predict the impact of stock market crash.In this paper,the results of the share market volatility of stock market are strengthened.On the basis of this conclusion,some suggestions are put forward to resist the foreign financial crisis,the prevention of domestic financial crisis and the investment of the investors. |
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