国际原油期货价格发现功能研究综述

Reviews on the Futures Price Discovery Function of International Crude Oil

价格发现是期货市场的主要功能之一。从国际原油价格形成机制、国际原油期货市场有效性、国际原油期货市场微观结构以及国际地理视角下原油期货价格发现等四个方面,对国际原油价格发现功能的研究成果进行了梳理、评析,并指出了该领域当前研究存在的不足。

Price discovery is one of important functions of futures markets. The research achievements of discovery function about the international crude oil price have been reviewed and analyzed from four aspects： the forming mechanism of international crude oil price, the effectiveness of international crude oil futures markets, the micro- structure of international crude oil futures markets, and the price discovery of crude oil futures from international geographic perspective. Finally, some shortages in this research field have been presented.