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锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟揭结构锟戒动
锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟揭结构锟戒动锟斤拷锟斤拷时锟戒： 2003-5-2 锟斤拷锟竭ｏ拷锟戒剑
锟斤拷锟斤拷锟叫撅拷锟矫碉拷锟叫癸拷锟斤拷幕锟斤拷锟结北锟斤拷锟斤拷锟今经硷拷锟叫撅拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷鄣锟斤拷锟斤拷锟斤拷敕拷佟锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷捉锟斤拷锟斤拷冉锟斤拷诘锟斤拷锟斤拷纬傻模锟斤拷锟斤拷芯锟斤拷锟斤拷锟斤拷谢锟斤拷玫锟斤拷锟斤拷巍锟斤拷锟斤拷锟斤拷睢拷锟斤拷芄狻⒃斤拷燃锟轿伙拷锟绞匡拷拇锟斤拷锟斤拷锟斤拷锟斤拷锟�
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锟斤拷一锟斤拷 锟斤拷锟斤拷锟斤拷锟斤拷锟铰碉拷
锟斤拷1997锟斤拷锟斤拷为锟教硷拷锟斤拷锟矫革拷锟秸ｏ拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷7锟斤拷锟铰碉拷锟斤拷锟绞★拷锟接碉拷锟斤拷锟截碉拷锟皆匡拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷陆锟接︼拷锟斤拷锟斤拷嗟憋拷锟斤拷械模锟斤拷锟斤拷锟斤拷锟绞达拷锟斤拷冉锟斤拷停锟斤拷锟轿讹拷糯锟斤拷锟斤拷锟斤拷锟揭伙拷锟斤拷锟斤拷什锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷陆锟斤拷锟斤拷锟斤拷锟斤拷什锟斤拷锟斤拷锟斤拷锟桔ｏ拷锟斤拷锟斤拷锟斤拷锟绞诧拷锟斤拷锟斤拷锟斤拷蠡锟斤拷锟斤拷锟斤拷拢锟斤拷锟斤拷鸩郊锟斤拷俅锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟接︼拷锟斤拷锟斤拷锟斤拷锟斤拷什锟斤拷某锟斤拷锟斤拷锟斤拷锟斤拷锟饺伙拷锟斤拷锟斤拷锟酵拷锟斤拷锟斤拷锟斤拷锟皆わ拷诓锟斤拷榷锟斤拷锟接帮拷锟斤拷锟斤拷氐拇锟斤拷冢锟斤拷锟斤拷直浠拷锟斤拷锟斤拷锟斤拷锟角诧拷锟斤拷锟皆的★拷锟斤拷锟解，锟斤拷使锟斤拷锟绞诧拷锟叫筹拷锟饺较凤拷锟斤拷木锟斤拷锟斤拷锟较碉拷校锟斤拷锟斤拷锟斤拷什锟斤拷峁癸拷谋涠餐拷锟斤拷锟揭伙拷锟斤拷铣锟斤拷锟绞憋拷诮锟斤拷械锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟绞变动锟侥讹拷锟斤拷效应通锟斤拷只锟斤拷映锟节达拷锟斤拷锟斤拷锟斤拷俣鹊谋浠拷稀锟斤拷锟斤拷牵锟斤拷锟斤拷锟斤拷痛锟斤拷锟饺碉拷锟斤拷锟斤拷锟铰碉拷锟斤拷使锟斤拷锟斤拷锟斤拷锟截碉拷锟斤拷锟矫诧拷锟较硷拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷俚锟绞碉拷锟叫э拷锟斤拷突锟斤拷锟斤拷锟斤拷殖锟斤拷锟斤拷锟�
锟斤拷锟斤拷锟斤拷 锟斤拷锟斤拷锟斤拷息税
全锟斤拷锟剿达拷锟斤拷1999锟斤拷8锟斤拷通锟斤拷锟斤拷锟睫改革拷锟斤拷锟斤拷锟斤拷税锟斤拷锟侥撅拷锟斤拷锟斤拷为锟街革拷锟斤拷锟斤拷锟斤拷息税锟斤拷平锟剿碉拷路锟斤拷锟斤拷锟斤拷锟斤拷息税锟斤拷锟节达拷锟斤拷锟斤拷锟剿碉拷锟斤拷嗟憋拷诘诎舜谓锟较拷锟斤拷锟斤拷锟斤拷锟揭伙拷锟斤拷诖锟斤拷锟斤拷锟斤拷锟轿�2锟斤拷25锟斤拷锟斤拷锟斤拷20%锟斤拷锟斤拷息税锟斤拷锟斤拷锟斤拷实锟绞斤拷为1.8锟斤拷锟斤拷锟斤拷某锟斤拷锟斤拷锟斤拷锟较斤拷锟斤拷锟斤拷锟斤拷锟斤拷息税锟饺斤拷息锟斤拷锟杰诧拷锟斤拷锟斤拷锟斤拷木锟斤拷锟叫э拷锟斤拷锟斤拷锟较拷锟斤拷锟斤拷堑母芯锟斤拷谴锟斤拷锟斤拷械玫锟斤拷锟�"锟矫达拷"锟斤拷锟斤拷锟剿ｏ拷锟斤拷锟斤拷税锟侥感撅拷锟斤拷锟角撅拷锟斤拷"应锟矫的好达拷"锟斤拷锟斤拷锟斤拷锟剿ｏ拷锟斤拷锟斤拷锟斤拷弑锟角帮拷吒锟斤拷艽锟绞癸拷锟斤拷堑锟斤拷锟斤拷什锟斤拷峁癸拷锟窖帮拷锟斤拷碌锟斤拷式锟饺ワ拷锟�1999锟斤拷8锟斤拷10锟铰ｏ拷锟斤拷锟斤拷锟斤拷锟斤拷平锟斤拷锟斤拷盈锟斤拷约为40锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷叽谓锟较拷锟揭伙拷锟斤拷诖锟斤拷锟斤拷锟斤拷2.5锟斤拷锟斤拷投锟绞回憋拷锟斤拷锟斤拷锟斤拷同锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷息税锟襟，帮拷一锟斤拷1.8锟斤拷锟侥达拷锟斤拷锟斤拷什锟斤拷悖拷锟斤拷锟斤拷锟斤拷械锟狡斤拷锟斤拷锟接拷士锟斤拷锟斤拷锟竭碉拷55锟斤拷锟斤拷锟揭ｏ拷锟斤拷锟轿拷锟斤拷写锟斤拷锟斤拷锟斤拷锟斤拷目占洹ｏ拷锟狡蓖讹拷驶乇锟斤拷锟斤拷诖锟斤拷锟斤拷息锟斤拷锟诫，锟劫硷拷锟较癸拷票转锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷税锟斤拷锟斤拷锟斤拷然锟斤拷锟斤拷锟斤拷式锟斤拷业锟斤拷锟斤拷锟�
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锟揭癸拷锟斤拷锟斤拷锟斤拷一直锟斤拷锟斤拷锟斤拷锟斤拷锟狡ｏ拷锟截憋拷锟角伙拷锟节达拷锟筋，只要取锟斤拷锟斤拷锟结供锟斤拷锟桔ｏ拷锟斤拷锟叫硷拷锟斤拷锟桔革拷锟筋。实锟斤拷锟剿硷拷十锟斤拷拇锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟�"锟斤拷锟铰斤拷锟斤拷"锟侥凤拷锟侥★拷锟轿猴拷锟斤拷只要凭一锟斤拷锟介构锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟杰把非凤拷锟斤拷锟诫划锟斤拷锟皆硷拷锟斤拷锟铰ｏ拷锟斤拷锟斤拷锟叫斤拷锟斤拷锟斤拷系锟铰ｏ拷锟斤拷锟斤拷锟睫达拷追锟介。为锟剿ｏ拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷实锟叫达拷锟斤拷锟斤拷实锟斤拷锟狡ｏ拷原锟狡伙拷锟斤拷1999锟斤拷锟侥★拷锟斤拷锟铰硷拷锟斤拷锟绞斤拷瞥锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷诟锟斤拷指锟斤拷锟斤拷锟皆拷锟斤拷锟狡迟★拷锟节达拷锟节间，一些锟斤拷锟斤拷锟轿拷锟斤拷锟睫讹拷锟绞斤拷锟截光，锟斤拷一锟斤拷锟街达拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷转锟斤拷锟斤拷锟接讹拷锟斤拷锟斤拷锟剿撅拷锟斤拷锟斤拷锟斤拷姆锟斤拷锟斤拷锟�
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锟斤拷1999锟斤拷11锟铰ｏ拷锟斤拷锟斤拷锟斤拷锟狡凤拷锟斤拷锟斤拷芏锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷7.8%锟斤拷锟斤拷锟斤拷锟斤拷10锟铰份斤拷锟斤拷0.4锟斤拷锟劫分点，锟桔筹拷锟桔革拷锟斤拷锟截猴拷实锟斤拷锟斤拷锟斤拷锟绞斤拷为10.9%锟斤拷锟斤拷锟斤拷2锟斤拷锟斤拷锟斤拷去锟斤拷锟斤拷锟斤拷锟叫筹拷锟斤拷锟斤拷锟斤拷锟斤拷锟狡匡拷锟斤拷7锟斤拷锟皆猴拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟狡凤拷锟斤拷锟斤拷食锟斤拷锟揭伙拷锟斤拷幕锟斤拷锟斤拷锟酵凤拷锟斤拷锟�5.4%锟斤拷始锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷10锟铰份达到同锟斤拷8.2%锟斤拷锟斤拷锟斤拷锟绞★拷锟斤拷锟斤拷锟斤拷微锟斤拷锟侥伙拷锟斤拷锟斤拷没锟叫筹拷锟斤拷锟斤拷去锟斤拷锟斤拷11锟斤拷锟斤拷锟斤拷锟杰讹拷锟劫次伙拷锟戒到7.8%锟斤拷同时锟斤拷锟斤拷锟竭价革拷指锟斤拷也锟斤拷锟斤拷锟斤拷锟剿硷拷锟斤拷锟斤拷之锟斤拷锟劫达拷锟铰碉拷锟斤拷锟斤拷锟窖价革拷指锟斤拷锟斤拷锟斤拷锟竭低ｏ拷锟斤拷锟斤拷锟斤拷锟斤拷锟叫筹拷锟斤拷锟斤拷锟斤拷然锟斤拷锟斤拷锟斤拷同时也说锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷螅蟛糠锟斤拷式锟轿达拷锟斤拷锟斤拷锟斤拷锟狡凤拷谐锟斤拷锟斤拷锟斤拷没锟叫碉拷锟斤降息锟皆刺硷拷锟斤拷锟斤拷锟斤拷锟窖碉拷锟斤拷锟斤拷目锟侥★拷
(锟斤拷)投锟斤拷锟斤拷锟斤拷锟绞硷拷锟斤拷锟斤拷锟铰斤拷锟斤拷锟狡★拷
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3锟斤拷 锟斤拷锟斤拷锟斤拷锟姐（只锟斤拷锟斤拷锟斤拷锟斤拷兀锟斤拷锟酵讹拷锟斤拷锟斤拷锟街と拷檀锟斤拷煽羁拷锟斤拷式锟斤拷驶锟斤拷锟街と拷锟斤拷锟斤拷锟截的硷拷锟叫斤拷锟斤拷锟斤拷锟侥缴款开锟斤拷锟绞斤拷锟绞伙拷锟斤拷锟斤拷氐募锟斤拷薪锟斤拷锟斤拷锟斤拷锟斤拷诘锟斤拷氐慕锟斤拷锟斤拷锟斤拷锟斤拷锟叫缴款开锟斤拷锟绞伙拷锟斤拷每锟秸斤拷锟斤拷锟斤拷珊锟斤拷锟斤拷锟斤拷山锟斤拷愎撅拷锟斤拷锟截的硷拷锟叫斤拷锟斤拷锟斤拷锟侥帮拷锟斤拷锟斤拷锟斤拷锟斤拷悖蝗伙拷锟斤拷锟截斤拷锟斤拷锟斤拷锟斤拷锟劫帮拷锟秸斤拷锟姐公司锟侥伙拷锟斤拷指锟斤拷锟节革拷证券锟教碉拷锟绞斤拷锟绞伙拷锟较斤拷锟叫伙拷锟绞ｏ拷锟斤拷锟街と拷谈锟斤拷萁锟斤拷愎撅拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟较革拷锟斤拷锟斤拷诟锟酵讹拷锟斤拷叩锟斤拷式锟斤拷驶锟斤拷辖锟斤拷谢锟斤拷省锟�
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锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷1999锟斤拷11锟铰ｏ拷锟揭癸拷锟斤拷锟斤拷锟斤拷锟組2锟斤拷锟斤拷锟斤拷为14%锟斤拷锟斤拷锟斤拷一锟斤拷锟斤拷陆锟�2.7锟斤拷锟劫分点，锟斤拷锟叫撅拷锟斤拷锟斤拷锟斤拷锟铰斤拷使锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷式锟斤拷锟�2.94锟斤拷锟劫分点，同时锟斤拷业锟斤拷锟节达拷锟酵讹拷锟节达拷锟斤拷锟斤拷锟斤拷涠拷直锟绞筂2锟斤拷锟斤拷锟绞斤拷锟斤拷0.59%锟斤拷0.13%锟斤拷锟斤拷一锟斤拷锟芥，锟街斤拷M0锟斤拷锟斤拷锟斤拷使锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟�0.84锟斤拷锟劫分点。锟斤拷锟斤拷锟斤拷锟斤拷目锟皆癸拷锟斤拷锟斤拷业锟接帮拷锟斤拷小锟斤拷锟斤拷锟斤拷为0.067%锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟捷ｏ拷锟节碉拷锟铰伙拷锟揭癸拷锟斤拷锟斤拷锟斤拷锟斤拷锟铰斤拷锟侥革拷锟斤拷锟斤拷锟斤拷锟叫撅拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷墓锟斤拷锥锟轿�108.6%锟斤拷锟斤拷业锟斤拷锟侥癸拷锟阶讹拷为26.7%锟斤拷锟斤拷锟街斤拷墓锟斤拷锥锟轿�-30.92%锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟酵凤拷锟斤拷锟斤拷锟斤拷丫锟斤拷锟轿拷锟斤拷夜锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷陆锟斤拷锟斤拷锟揭拷锟酵憋拷锟揭碉拷锟斤拷锟斤拷锟斤拷锟斤拷锟揭诧拷锟斤拷锟斤拷锟斤拷陆锟斤拷锟剿碉拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷未使锟斤拷业锟斤拷锟斤拷锟斤拷锟斤拷营锟筋动锟斤拷酶锟斤拷锟斤拷式锟斤拷锟斤拷锟接撅拷锟剿伙拷锟揭癸拷锟斤拷锟侥递硷拷锟斤拷锟狡★拷
锟藉、锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷暮锟桔撅拷锟斤拷效应
锟斤拷一锟斤拷 锟斤拷锟斤拷锟斤拷锟斤拷锟绞癸拷锟斤拷锟斤拷锟斤拷曰锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷源锏皆わ拷锟叫э拷锟斤拷锟�
锟斤拷锟脚达拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷什锟斤拷辖锟斤拷停锟斤拷锟斤拷锟斤拷锟斤拷M2锟斤拷锟斤拷锟斤拷锟绞筹拷锟斤拷锟斤拷锟斤拷锟皆碉拷锟铰斤拷锟斤拷锟狡★拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟酵凤拷锟斤拷锟斤拷丫锟斤拷锟轿拷锟斤拷夜锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟捷硷拷锟斤拷锟斤拷要原锟津。达拷1994锟疥到1999锟疥储锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟�41.5%锟斤拷锟劫碉拷12%锟斤拷同时锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟�35.8%锟铰斤拷锟斤拷14%锟斤拷锟斤拷锟斤拷锟斤拷锟较碉拷锟斤拷叽锟�95.6%锟斤拷锟斤拷一时锟节ｏ拷锟斤拷锟斤拷锟斤拷锟斤拷俣曰锟斤拷夜锟斤拷锟斤拷锟斤拷锟斤拷牡锟狡斤拷锟斤拷锟斤拷锟斤拷锟轿�83.6%锟斤拷锟斤拷一锟斤拷锟斤拷锟斤拷锟较斤拷锟斤拷锟斤拷锟斤拷锟筋不锟较凤拷锟斤拷使锟斤拷锟斤拷锟斤拷锟斤拷锟叫诧拷取锟侥革拷锟斤拷旨锟斤拷锟斤拷锟脚伙拷锟揭癸拷锟斤拷锟斤拷锟斤拷锟斤拷锟竭诧拷锟斤拷锟斤拷锟皆达到预锟斤拷效锟斤拷锟斤拷
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锟斤拷锟劫撅拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟侥匡拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷押锟酵讹拷剩锟斤拷锟斤拷锟斤拷碳锟斤拷锟斤拷镁锟斤拷旄达拷铡锟斤拷锟斤拷锟斤拷锟饺憋拷锟斤拷锟结保锟斤拷锟狡度猴拷锟斤拷效锟斤拷锟绞憋拷锟叫筹拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟节达拷锟斤拷业锟斤拷锟叫凤拷锟斤拷锟斤拷锟斤拷之锟斤拷未锟斤拷锟斤拷锟斤拷注锟斤拷实锟藉经锟矫碉拷循锟斤拷锟斤拷锟斤到锟狡讹拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷目锟侥ｏ拷锟洁反锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷式锟斤拷诠锟斤拷校锟斤拷乇锟斤拷锟揭伙拷锟斤拷谐锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷纬锟斤拷锟斤拷氐锟斤拷式锟斤拷锟侥★拷
锟斤拷实锟较ｏ拷锟斤拷锟斤拷锟斤拷锟斤拷式锟斤拷锟揭拷锟斤拷锟斤拷票锟斤拷锟斤拷锟叫筹拷锟斤拷锟斤拷指锟斤拷锟斤拷吮锟斤拷锟斤拷锟斤拷锟斤拷诓聘锟叫в︼拷锟斤拷锟斤拷拢锟斤拷锟狡憋拷锟街碉拷锟斤拷锟斤拷踊锟劫斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷式锟斤拷锟斤拷锟斤拷锟斤拷一锟斤拷锟叫筹拷锟斤拷锟斤拷锟斤拷锟饺诧拷锟斤拷锟狡讹拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟角ｏ拷也锟斤拷锟斤拷锟斤拷锟斤拷实锟藉经锟斤拷锟斤拷直锟斤拷锟斤拷锟绞碉拷锟斤拷锟斤拷锟斤拷锟接讹拷使锟斤拷锟斤拷锟绞斤拷锟斤拷锟斤拷锟斤拷实锟藉经锟斤拷之锟解。锟斤拷一锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷式锟皆斤拷啵拷跃锟斤拷锟斤拷锟斤拷锟斤拷锟轿ｏ拷锟斤拷锟皆斤拷锟斤拷锟轿拷锟斤拷锟斤拷式锟斤拷锟斤拷帽锟揭伙拷锟斤拷锟斤拷锟斤拷系木锟斤拷锟斤拷锟侥拷锟缴革拷锟斤拷锟斤拷锟皆达拷锟侥★拷锟斤拷锟斤拷锟斤拷沫通锟斤拷锟斤拷映锟斤拷锟绞憋拷锟斤拷值锟侥高癸拷锟较ｏ拷锟斤拷通锟斤拷锟绞憋拷锟斤拷值锟侥高癸拷锟斤拷锟斤拷锟斤拷锟斤拷强锟斤拷锟斤拷锟斤拷止锟斤拷锟斤拷锟皆わ拷冢锟斤拷锟斤拷映志锟斤拷锟斤拷锟斤拷耄拷锟斤拷锟斤拷锟斤拷锟绞碉拷蚀锟斤拷锟斤拷剩锟斤拷锏斤拷锟斤拷锟斤拷锟斤拷锟街э拷锟斤拷锟叫э拷锟斤拷锟�
锟斤拷锟斤拷目前锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷 锟侥达拷锟斤拷锟斤拷锟斤拷锟揭碉拷锟斤拷锟阶拷频锟斤拷时锟揭伙拷锟斤拷谐锟斤拷锟斤拷锟斤拷式锟斤拷硕锟斤拷锟侥斤拷锟斤拷效锟斤拷为锟斤拷
锟斤拷锟斤拷锟斤拷 锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟揭碉拷锟斤拷锟斤拷糯锟斤拷锟侥ｏ拷锟斤拷锟轿拷锟斤拷锟斤拷锟揭拷锟街伙拷锟�
目前锟斤拷锟斤拷业锟斤拷锟斤拷锟脚达拷锟斤拷模锟斤拷锟斤拷萎锟斤拷锟斤拷锟缴讹拷锟斤拷锟斤拷锟斤拷锟斤拷傻模锟斤拷锟斤拷锟斤拷锟揭拷锟斤拷锟斤拷诠锟斤拷锟斤拷锟揭碉拷锟斤拷薪锟斤拷锟斤拷木锟接拷锟斤拷锟斤拷约锟斤拷锟斤拷芯锟斤拷玫锟斤拷毡锟剿ワ拷洌伙拷锟斤拷锟斤拷锟揭伙拷锟斤拷婵达拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷也锟角碉拷锟斤拷锟脚达拷萎锟斤拷锟斤拷一锟斤拷锟斤拷锟缴猴拷锟接碉拷锟斤拷锟截★拷锟斤拷锟斤拷锟斤拷业锟斤拷锟叫ｏ拷锟斤拷锟斤拷锟斤拷诜潜锟揭拷源锟筋，锟斤拷锟斤拷锟街达拷锟斤拷锟斤拷业锟斤拷锟叫达拷锟斤拷锟斤拷直锟斤拷锟斤拷失为锟斤拷
Loss=i*(S-L)
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目前锟斤拷锟揭癸拷锟斤拷票一锟斤拷锟叫筹拷锟酵讹拷锟斤拷锟叫筹拷之锟斤拷锟斤拷诰薮锟侥价革拷锟斤拷欤拷纱舜锟斤拷锟斤拷式锟斤拷萍锟斤拷锟揭伙拷锟斤拷谐锟斤拷锟斤拷锟侥憋拷锟斤拷薹锟斤拷盏母锟斤拷锟斤拷妗Ｎ拷谋锟斤拷锟斤拷锟阶达拷锟斤拷锟斤拷锟斤拷锟接︼拷锟斤拷锟脚匡拷锟斤拷锟斤拷锟叫癸拷票锟斤拷锟叫价革拷锟斤拷锟斤拷锟斤拷锟斤拷疲锟阶拷锟斤拷锟饺★拷锟斤拷锟斤拷锟斤拷毯锟斤拷锟斤拷泄锟剿撅拷锟斤拷锟饺凤拷锟斤拷锟斤拷屑鄹锟侥凤拷式锟斤拷锟斤拷锟斤拷锟斤拷锟杰癸拷锟斤拷效锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟叫筹拷锟斤拷募鄹锟斤拷啵拷佣锟绞癸拷式锟斤拷锟揭伙拷锟斤拷锟斤拷锟斤拷谐锟斤拷锟斤拷锟斤拷锟街诧拷锟斤拷实锟街高凤拷锟秸革拷锟斤拷锟斤拷锟斤拷谐锟皆拷锟绞碉拷锟斤拷希锟斤拷趴锟揭伙拷锟斤拷谐锟斤拷姆锟斤拷屑鄹锟揭餐拷锟斤拷锟斤拷锟斤拷锟斤拷式锟斤拷锟斤拷锟斤拷锟斤拷谐锟斤拷锟斤拷时锟斤拷谐锟街拷锟侥猴拷锟斤拷锟街诧拷锟斤拷锟接讹拷锟狡讹拷锟绞斤拷锟斤拷锟绞碉拷寰拷谩锟�
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锟绞斤拷之锟斤拷锟斤拷锟斤拷一锟斤拷锟叫筹拷锟轿成筹拷锟斤拷锟斤拷锟斤拷锟斤拷原锟斤拷锟斤拷锟斤拷锟绞憋拷锟叫筹拷锟斤拷锟斤拷锟劫讹拷太锟斤拷锟斤拷锟铰癸拷锟斤拷锟斤拷锟杰碉拷锟斤拷锟斤拷锟叫关诧拷锟脚碉拷锟较革拷锟斤拷疲锟斤拷獠伙拷锟斤拷锟斤拷锟斤拷私锟斤拷锟绞碉拷锟酵讹拷锟斤拷锟斤拷锟斤拷锟绞斤拷锟斤拷锟斤拷锟斤拷也锟斤拷锟斤拷锟斤拷锟斤拷锟叫癸拷司锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷目前锟斤拷锟斤拷票锟斤拷锟斤拷锟窖撅拷锟斤拷为锟节讹拷锟斤拷锟斤拷锟揭碉拷锟斤拷式锟斤拷锟斤拷锟斤拷锟襟法憋拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟缴拷式锟姐集锟斤拷一锟斤拷锟叫筹拷锟饺达拷锟斤拷锟斤拷锟铰股ｏ拷锟斤拷使锟矫癸拷锟斤拷锟斤拷业锟斤拷锟剿硷拷锟斤拷锟斤拷锟斤拷锟斤拷去锟侥匡拷锟杰★拷锟斤拷锟酵憋拷锟斤拷锟斤拷锟斤拷谢锟斤拷锟斤拷姆枪锟斤拷锟斤拷锟揭碉拷锟斤拷时锟斤拷谐锟斤拷锟斤拷艿锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷樱锟斤拷锟斤拷锟斤拷曰锟斤拷锟绞斤拷支锟街ｏ拷锟斤拷锟襟降碉拷锟斤拷锟斤拷锟斤拷锟斤拷锟侥斤拷锟斤拷效锟绞和撅拷锟斤拷效锟绞★拷锟斤拷耍锟斤拷涌锟斤拷锟斤拷锟斤拷锟斤拷锟劫度ｏ拷锟截憋拷锟斤拷锟矫撅拷营效锟斤拷玫姆枪锟斤拷锟斤拷锟揭碉拷锟斤拷锟斤拷锟斤拷校锟斤拷锟斤拷锟斤拷直锟斤拷锟斤拷锟绞憋拷锟截ｏ拷锟斤拷锟狡斤拷锟节结构锟斤拷锟斤拷要途锟斤拷锟斤拷
锟节加匡拷锟斤拷锟斤拷锟斤拷诘锟斤拷锟斤拷锟斤拷拢锟斤拷锟斤拷锟斤拷锟绞斤拷锟街憋拷咏锟斤拷锟斤拷锟揭碉拷锟斤拷锟斤拷锟斤拷锟接拷锟斤拷锟斤拷校锟斤拷锟斤拷锟斤拷式锟接撅拷锟斤拷锟斤拷锟斤拷锟叫憋拷锟斤拷锟斤拷锟斤拷锟斤拷锟阶拷锟轿拷锟揭碉拷锟筋，使锟矫伙拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷强锟斤拷锟斤拷愿锟斤拷苹锟斤拷夜锟斤拷锟斤拷峁癸拷锟斤拷锟竭伙拷锟斤拷锟斤拷锟斤拷效锟斤拷锟斤拷锟斤拷锟斤拷要锟斤拷锟矫★拷
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应锟矫匡拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷息锟斤拷锟斤拷锟秸碉拷锟铰达拷锟斤拷锟斤拷锟斤拷锟斤拷锟饺达拷锟饺晃达拷锟斤拷锟叫э拷锟斤拷锟斤拷锟斤拷锟斤拷押锟酵讹拷锟斤拷谐锟斤拷锟斤拷锟斤拷锟斤拷原锟斤拷锟斤拷锟节癸拷锟斤拷目前锟斤拷缺锟斤拷锟斤拷锟斤拷锟酵讹拷驶锟斤拷锟斤拷锟斤拷锟斤拷鸦锟斤拷锟斤拷锟轿拷耍锟斤拷锟斤拷锟接︼拷映锟皆讹拷锟斤拷锟斤拷锟斤拷锟角匡拷锟斤拷锟斤拷贫锟斤拷缘幕锟斤拷锟斤拷锟绞╋拷锟斤拷瑁伙拷锟斤拷锟接︼拷哟锟酵讹拷锟斤拷锟斤拷频母母锟斤拷锟斤拷龋锟斤拷趴锟斤拷锟剿斤拷锟酵讹拷实母锟斤拷锟斤拷锟斤拷疲锟斤拷锟斤拷锟斤拷泄氐姆锟斤拷煞锟斤拷妫э拷锟斤拷锟接拷锟斤拷梅锟秸棺筹拷锟斤拷锟揭伙拷锟斤拷妫拷哟锟阶★拷锟斤拷母锟斤拷锟斤拷取锟斤拷平锟斤拷锟斤拷锟斤拷锟揭碉拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟揭斤拷啤锟绞б碉拷锟斤拷锟斤拷系锟斤拷锟结保锟斤拷锟狡度ｏ拷锟接讹拷为锟斤拷锟节达拷锟斤拷一锟斤拷锟饺讹拷锟斤拷锟斤拷锟窖伙拷锟斤拷锟斤拷只锟叫具憋拷锟斤拷锟斤拷锟狡碉拷锟狡度伙拷锟斤拷锟斤拷锟斤拷息锟斤拷锟斤拷锟斤拷锟斤拷锟斤到锟教硷拷锟斤拷锟窖猴拷锟斤拷锟斤拷投锟绞碉拷目锟侥ｏ拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷挪锟斤拷锟斤拷锟斤拷纬锟斤拷锟斤拷氐锟斤拷锟结经锟斤拷效锟斤拷锟斤拷失锟斤拷
锟轿匡拷锟斤拷锟阶ｏ拷
1锟斤拷 1998-1999锟斤拷锟斤拷锟斤拷锟斤拷锟今经硷拷锟叫撅拷锟斤拷锟斤拷劬锟斤拷锟斤拷卤锟斤拷锟�
2锟斤拷 1998-99锟疥《锟斤拷锟斤拷锟斤拷锟斤拷统锟狡硷拷锟斤拷锟斤拷锟斤拷
3锟斤拷 Jeffrey D. Sachs ,1994,"Structural Factors in the Economic Reforms of China, Eastern Europe, and the Former Soviet Union", with Wing Woo, Economic Policy, 18, April 1994.
4锟斤拷 Mckinnon , Ronaldi ,The Order of Economic Liberalization :Financial Control in the Transition to a Market Economy, 1991.
5锟斤拷 锟斤拷什锟金，★拷锟斤拷锟揭斤拷锟斤拷学锟斤拷锟斤拷1998锟斤拷锟斤拷锟斤拷锟芥，锟斤拷锟矫匡拷学锟斤拷锟斤拷锟界。
6锟斤拷
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7锟斤拷 袁平锟斤拷锟斤拷锟斤拷锟桔癸拷锟斤拷锟斤拷锟斤拷影锟斤拷锟斤拷锟斤拷式锟斤拷锟阶拷姆锟绞斤拷锟斤拷锟斤拷泄锟斤拷锟斤拷锟斤拷锟斤拷斜锟斤拷锟�1997锟斤拷7锟铰★拷 锟斤拷锟斤拷裕锟斤拷锟揭碉拷锟斤拷锟�,锟斤拷驯锟揭碉拷锟斤拷锟�,锟斤拷学锟斤拷业锟斤拷锟斤拷,锟斤拷业锟斤拷锟斤拷模锟斤拷
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