Data/hora: 11/06/2024 17:54:42

Provedor de dados: | Research in Agricultural & Applied Economics (AgEcon Searh)
País: | United States
Título: | Efficiency tests of agricultural commodity futures markets in China
Autores: | Wang,   H. Holly; Ke,   Bingfan.
Data: | 2011-12-01
Ano: | 2005
Palavras-chave: | Cointegration; Futures market; Price; Soybean; Wheat; Marketing; Risk and Uncertainty.
Resumo: | The efficiency of the Chinese wheat and soybean futures markets is studied. Formal statistical tests were conducted based on Johansen’s cointegration approach for three different cashmarkets and six different futures forecasting horizons ranging from1 week to 4 months.The results suggest a long-termequilibrium relationship between the futures price and cash price for soybeans and weak short-term efficiency in the soybean futures market. The futures market for wheat is inefficient, which may be caused by overspeculation and government intervention.
Tipo: | Article
Idioma: | Inglês
Identificador: | http://purl.umn.edu/118441
Relação: | Australian Journal of Agricultural and Resource Economics&gt;Volume 49, Issue 2, June 2005
Formato: | 17