我国棉花期货价格与现货价格关系实证研究  

China's cotton futures prices and spot prices Empirical Study

作　　者：刘小芳[1] 李旭超[1] 邹智[1] 

机构地区：[1]华中师范大学经济学院,湖北武汉430000

出　　处：《湖南农机（学术版）》2011年第1期173-174,184,共3页Hunnan Agricultural Machinery

摘　　要：根据2010年郑州商品交易所的棉花期货货价格和中国棉花协会的现货价格,运用单位根检验、协整检验、误差修正模型等方法来实证研究中国棉花期货市场的价格发现作用。结果表明:棉花期货价格与现货价格有很强的相关性,但这是单向相关的,即现货价格对期货价格有明显的引导作用,而期货价格对现货价格的引导作用不强。According to the Zhengzhou Commodity Exchange in 2010 for the price of cotton futures and spot prices of China Cotton Association, the use of unit root test, cointegration test, error correction model approach to empirical study of Chinese cotton price discovery role of futures markets. The results showed that： Cotton futures prices and spot prices have a strong correlation, but this is the one-way related, that the spot price of the futures prices significantly guide, and the futures price on the spot price of the guide is not strong.

关 键 词：价格发现 单位根检验 协整检验 误差修正模型 

分 类 号：F307.12[经济管理—产业经济]