期货市场对实体经济价格体系的价格修复功能研究——基于中国商品期货市场的实证分析

The Repair Function for the Price System of the Real Economy in the Futures Market:An Empirical Analysis of Chinese Commodity Futures Markets

期货市场的经济功能有很多,从实体经济与期货市场之间的关系这一角度,对期货市场的经济功能进行了研究。首先是从理论上论证了期货市场的套利行为可以对实体经济价格体系起到价格修复功能,然后选取了中国商品期货市场中的铜、锌、大豆、豆粕、豆油、玉米等品种,从实证的角度论证了期货市场的套利行为对实体经济价格体系的修复作用情况,最后得出"在中国,期货市场对实体经济价格体系的修复功能主要体现在工业品市场"这一结论。

There are many economic functions of futures markets. In this paper, the economic function of futures markets is studied in the relationships between the real economy and the futures market. Firstly, the function is theoretically demonstrated; then, the function is empirically demonstrated. In the end, the conclusion is that the function is mainly reflected in the industrial market in China.