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我国的白糖期货是我国期货市场上相对活跃的期货品种,其影响相对较大,因而研究白糖期货的功能作用具有一定的实际意义。本文借助相关性分析、Johansen协整检验、VEC模型和Granger因果关系检验等计量方法,对我国白糖期货价格与现货价格之间的关系进行了实证分析,并提出了相关政策建议。
China’s sugar futures are the relatively active futures in the futures market of our country, and their impact is relatively large. Therefore, it is of practical significance to study the functional role of sugar futures. In this paper, with the help of correlation analysis, Johansen cointegration test, VEC model and Granger causality test, this paper makes an empirical analysis of the relationship between the price of white sugar futures and the spot price in China and puts forward relevant policy suggestions.