注册制改革作为助力实体经济稳步发展动重要举措之一，对资本市场中的参与主体产生了一定的经济后果。本文首先对股票发行审核模式的演进历程进行回顾，并总结了全面注册制下配套的一揽子综合改革方案的重点方向；其次从理论出发综述了相关文献中关于政策效果以及制度完善方面的研究成果，构建基本的逻辑框架；最后结合已有研究成果中的不足和实践背景，提出未来展望。

As one of the significant measures to support the steady development of the real economy, the registration-based reform has brought certain economic consequences to the participants in the capital market. This paper first reviews the evolution of the stock issuance review model and summarizes the key directions of the comprehensive reform package under the full registration-based system. Then, it reviews the research results in the literature on policy effects and institutional improvements from a theoretical perspective and constructs a basic logical framework. Finally, based on the deficiencies in existing research and the practical background, it presents future prospects.