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주식시장의 구조적 변화(Structural changes in the Korean stock market) : 거래회전율 감소의 원인 분석(Analysis on the decrease in trading activities)

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  • 주식시장의 구조적 변화(Structural changes in the Korean stock market)
  • 강소현; 김준석; 양진영
  • 자본시장연구원


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Title 주식시장의 구조적 변화(Structural changes in the Korean stock market)
Similar Titles
Sub Title

거래회전율 감소의 원인 분석(Analysis on the decrease in trading activities)

Material Type Reports
Author(Korean)

강소현; 김준석; 양진영

Publisher

[서울]:자본시장연구원

Date 2015-05
Pages 261
Subject Country South Korea(Asia and Pacific)
Language Korean
File Type Link
Subject Economy < Financial Policy
Holding 자본시장연구원

Abstract

The Korean equity market has seen a remarkable growth over the last 25 years. In the KOSPI market space, market capitalization rose from 66 trillion won in 1990 to 1,212 trillion won in 2013, an 18-fold increase, and also trading volume from 53 trillion won to 884 trillion won during the same period. But, in recent years, the equity market appears to have lost momentum. Trading volume (per month) reached a peak at 193 trillion won in April, 2011, and then fell rapidly to 81 trillion won in 2013. Likewise, market capitalization has been moving up at a slow pace, from 1,000 trillion won in 2011 to 1,200 trillion won in 2013. Turnover has been decreasing as well, and its slowdown started much earlier than trading volume and market capitalization. Monthly turnover declined from 43% in 1999 to 7% in 2013. (The rest omitted)