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| Author: | Wu, Zhizhong |
| Title: | On the economic conditions for the development of futures trade |
| Journal: | Modern Economic Science (c)
1997 : 2, p.8-12 |
| Index terms: | FUTURES MARKETS ECONOMIC ANALYSIS CHINA |
| Language: | chi |
| Abstract: | To establish futures market, we should have the following conditions:1. premise condition: The government organ hasn't the absolute right of control over price. There must be good electronic communications in good operation, rational infrastructure facilities and perfect legal structural system including property rights system. 2. necessary condition: The changeable spot price and rational legal system are a must. The former can be used as the signal mechanism of market economists and the latter is the guarantee of market's operating according to regulation. 3. micro condition: There must be formal futures exchanges, futures contracts. The commercial companies must have demand and the ability of risk management. |
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