Comparative Analysis of Discovery Function of Cotton Future Price among Different Regions——A Case Study of Xinjiang

• 来源期刊: 亚洲农业研究：英文版
• 学科: 经济
• 关键词: COTTON FUTURE PRICE SPOT PRICE Empirical test CHIN
• 年，卷（期）: 2011,（8）
• 页码范围: 32-36
• 页数: 5页
• 分类号: F323.7

摘要

Through comparative analysis, We research the relationship between cotton future price and cotton spot price in different regions, in order to formulate corresponding strategies in different regions under the new situation. We use ADF unit root test, E-G two-step cointegration test, Granger causality test, and other research methods in Eviews 5.0 statistical software, to empirically study the relationship between the cotton future price and cotton spot price in Xinjiang, the relationship between the cotton future price and cotton spot price in China. The results show that there is a long-term relationship between the cotton future price and cotton spot price in Xinjiang, between the cotton future price and cotton spot price in China; the cotton future price plays unidirectional role in guiding cotton spot price in Xinjiang and cotton spot price in China. The discovery function of cotton future price plays much greater role in the cotton market of China than in the cotton market of Xinjiang.