Late-mover advantages and disadvantages in China's futures market
China Agricultural Economic Review
ISSN: 1756-137X
Article publication date: 17 March 2020
Issue publication date: 11 June 2020
Abstract
Purpose
This article aims to provide an in-depth analysis of the late-mover advantages and disadvantages of China's futures market.
Design/methodology/approach
This paper reviews the establishment and evolution of China's futures market via historical and comparative analysis, deeply analyzing the market's late-mover advantages and disadvantages.
Findings
The establishment and evolution of China's futures market as a late-mover enjoys benefits in overall design, pilot, and post-development. However, it also suffers disadvantages brought by institutional transformations, advantage enjoyment, catch-up strategies, and international integration.
Originality/value
This paper is the first to systematically explore the laws affecting the formation of the price system in China's futures market. The findings of this research provide important policy implications for the development of China's futures market and references for other developing countries.
Keywords
Citation
Chang, Q. (2020), "Late-mover advantages and disadvantages in China's futures market", China Agricultural Economic Review, Vol. 12 No. 2, pp. 179-191. https://doi.org/10.1108/CAER-11-2019-0211
Publisher
:Emerald Publishing Limited
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