中印股票市场间波动溢出效应实证分析的中期报告摘要：本文通过对中印股票市场的相关数据进行实证研究，发现中印股票市场间存在显著的波动溢出效应。具体来说，印度股票市场对中国股票市场的波动具有显著正向影响，而中国股票市场对印度股票市场的影响相对较小且不显著。此外，本文还通过进一步研究发现，中印股票市场间波动溢出效应受到多个因素的影响，包括股票市场的规模、发展程度、政策环境等。具体来说，股票市场规模越大、发展程度越高、政策环境越稳定，对对方股票市场的溢出效应越显著。本文的实证研究对于进一步深入了解中印股票市场间波动溢出效应及其影响因素具有一定的参考意义。关键词：中印股票市场；波动溢出效应；敏感性分析Abstract:ThroughempiricalresearchontherelevantdataofChinaandIndia'sstockmarkets,thispaperfindsthatthereisasignificantspillovereffectbetweenthetwomarkets.Specifically,thevolatilityoftheIndianstockmarkethasasignificantpositiveimpactontheChinesestockmarket,whiletheimpactoftheChinesestockmarketontheIndianstockmarketisrelativelysmallandnotsignificant.Inaddition,thispaperfurtherstudiesandfindsthatthespillovereffectbetweenthestockmarketsofChinaandIndiaisinfluencedbymultiplefactors,includingthesizeofthestockmarket,thelevelofdevelopment,thepolicyenvironment,etc.Specifically,thelargerthesizeofthestockmarket,thehigherthelevelofdevelopment,andthemorestablethepolicyenvironment,themoresignificantthespillovereffectontheotherstockmarket.TheempiricalresearchinthispaperhascertainreferencesignificanceforfurtherunderstandingthespillovereffectbetweenthestockmarketsofChinaandIndiaanditsinfluencingfactors.Keywords:StockMarketofChinaandIndia;VolatilitySpilloverEffect;SensitivityAnalysis.