커버이미지 없음
KCI등재
학술저널
중국 중유 선물시장의 효율성 분석
Efficiency Analysis of China s Fuel Oil Futures Market
- 김창수(Changsoo Kim) 김은영(Eun-young Kim)
- 한국동북아경제학회
- 동북아경제연구
- 東北亞經濟硏究 第17卷 第3號
- 등재여부 : KCI등재
- 2005.12
- 89 - 116 (28 pages)
China, the world s No. 2 oil consumer, rolled out fuel oil futures on August 25, 2004. While Chinese fuel oil market has not been sufficiently competitive yet, the existence of fuel oil futures is expected to make it much more competitive by providing price indicator other than spot market price. This paper examines efficiency of the Chinese fuel oil market using data from Shanghai Futures Exchange (SHFE) fuel oil futures closing prices and Singapore 180-CST fuel oil spot prices by making use of Johansen Cointegration Procedure and Error Correction Model. The test results show that the Chinese fuel oil market is efficient.
Ⅰ. 서론
Ⅱ. 중국의 선물시장과 중유 상품시장
Ⅲ. 중국 중유 선물시장의 효율성 분석
Ⅳ. 결론