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从股指期货与现货市场的价格关系入手,采用定性分析与实证分析相结合的方法,以日本期货市场的经验为案例,深刻描述了股指期货与基础现货之间波动性的影响。在实证结果的基础上,我们得到启示:在目前我国已推出股指期货的基础上,应当在控制投机风险的情况下加快我国股指期货的建设工作,以使其更好地发挥对现货市场的积极引导作用。
Starting from the relationship between the price of stock index futures and the spot market, this paper uses the combination of qualitative analysis and empirical analysis, and takes the experience of the Japanese futures market as an example to deeply describe the influence of volatility between stock index futures and base stock. On the basis of the empirical results, we get the enlightenment: At present, China has launched stock index futures, we should speed up the construction of China’s stock index futures under the condition of controlling the speculative risk so as to make it play a more active role in the spot market Lead role.