美国期货品种创新与产业转型镜鉴——兼论期货交易所交易品种的多元化

发布时间：2018-07-12 08:44

本文选题：品种创新 + 品种多元化　；参考：《证券市场导报》2014年04期

【摘要】：从基础产业发展环境和衍生品市场产品类别看,1960~1980年代初的美国商品期货市场与当前我国期货市场有一定相似性。本文考察了这段时期美国商品期货市场创新发展和品种结构的变化,发现在产业发展中期至成熟阶段最适合开展商品期货交易。此外,工业的发展不仅刺激了市场对新工业品期货的需求,也促进了农业技术的进步,导致相关农业领域的规模化和农产品产业链条的变化,最终使得新的农业领域或新的农产品产业链环节更加适合开展期货交易。这一时期,美国商品期货品种创新主要表现为两方面,包括基于经济结构的期货品种结构调整和沿着产业链的期货品种链条延伸。期货交易所在根据经济结构调整和产业链变化进行品种创新,拓宽服务实体经济的广度和深度的同时,也实现自身品种的多元化。
[Abstract]:From the view of the development environment of basic industry and the product category of derivatives market, the American commodity futures market in the early 1980s is similar to the current futures market in China. This paper examines the innovation development and variety structure change of American commodity futures market during this period, and finds that commodity futures trading is most suitable in the middle to mature stage of industrial development. In addition, the development of industry has not only stimulated the market demand for new industrial products futures, but also promoted the progress of agricultural technology, resulting in the scale of related agricultural fields and changes in the industrial chain of agricultural products. Finally, the new agricultural field or the new agricultural industry chain is more suitable for futures trading. In this period, the innovation of American commodity futures variety mainly shows in two aspects, including the adjustment of futures variety structure based on economic structure and the extension of futures variety chain along the industrial chain. The futures exchange carries on the variety innovation according to the economic structure adjustment and the industrial chain change, broadens the service entity economy breadth and the depth, but also realizes its own variety diversification.
【作者单位】：大连商品交易所;
【分类号】：F713.35

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