金融资产短缺是新兴市场国家普遍面临的问题，容易引发资产泡沫。中国作为新兴市场国家的代表国，探究其资产短缺问题与A股市场泡沫之间的联系能为资产短缺问题的研究提供实践价值。 本文先通过文献综述阐述资产短缺问题，之后在实证分析中，以中国资产短缺和中国A股市场泡沫作为研究对象，运用VAR建模方法，对1997年-2015年中国资产短缺与A股市场泡沫之间的联动性进行了分析。结果表明，中国资产短缺会正向引发A股市场泡沫问题，同时，A股市场泡沫会暂缓资产短缺问题，但是这种看似健康的市场自我调节机制却会以A股市场泡沫不断聚集作为代价，引发更大的危机。基于此，本文建议应该大力发展中国金融市场，创造更多优质的金融资产。

Shortage of financial assets is a common problem in emerging market countries, and it is easy to trigger asset bubbles. While China is a representative of emerging market countries, exploring the relationship between Chinese asset shortage and A-share market bubbles can provide practical value for the study on asset shortage. This article first describes the problem of asset shortage through literature review, then in the empirical analysis, taking Chinese asset shortage and Chinese A-share market bubbles as research objects, using VAR modeling method to analyze the correlation between asset shortage and A-share market bubbles from 1997 to 2015. The results show that Chinese asset shortage will positively trigger the A-share market bubbles, and at the same time, A-share market bubbles will suspend asset shortage problem, but this seemingly healthy market self-regulation mechanism will come at the expense of A-share market bubble accumulation, causing a greater crisis. Based on this, this article suggests that China should vigorously develop financial market and create more high-quality financial assets.