印度农产品期货市场的通胀效应:存在吗?我们应该关注吗?

IF 3 Q2 BUSINESS

Vision-The Journal of Business Perspective Pub Date : 2023-08-03 DOI:10.1177/09722629231168692

Priti Dubey, Soma Dey

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引用次数: 0

摘要

在印度，农产品期货市场对农产品价格的影响一直是一个有争议的问题。监管机构经常以控制通胀为既定目标干预这个市场。在本文中，我们通过分析总体市场水平以及12种商品的单个市场的关系，研究了印度农产品市场的期货交易活动与现货价格通胀之间的关系。我们发现，无论在长期还是短期，农产品期货合约的交易量对消费者价格指数都有显著的正向影响。对于单个商品，我们发现在分析的11种商品中，只有4种商品的期货交易量对现货价格有显著的积极影响。有证据表明，监管机构应该密切监控市场，但不要反复使用禁止交易等严厉措施。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Inflationary Effect of Agricultural Commodity Futures Market in India: Is it There and Should we Care?

The impact of the agricultural commodity futures market on agricultural commodity prices has been a contested issue in India. Regulators have often interfered in this market with the stated objective of controlling inflation. In this article, we examine the relationship between futures trading activity and spot price inflation in the agricultural commodity markets in India by analysing the relationship on the aggregate market level as well as on the individual markets of 12 commodities. We find that the trading volume of AGRIDEX futures contracts has a significant and positive impact on the Consumer Price Index in both the long run and short run. For individual commodities, we find that the futures volume has a significant and positive impact on the spot price in only four out of eleven commodities analysed. The evidence suggests that regulators should monitor the market closely but refrain from repeatedly using stringent measures, like banning trading.

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来源期刊

Vision-The Journal of Business Perspective Multiple-

CiteScore

4.60

自引率

0.00%

发文量

121

期刊介绍： Vision-The Journal of Business Perspective is a quarterly peer-reviewed journal of the Management Development Institute, Gurgaon, India published by SAGE Publications. This journal contains papers in all functional areas of management, including economic and business environment. The journal is premised on creating influence on the academic as well as corporate thinkers. Vision-The Journal of Business Perspective is published in March, June, September and December every year. Its targeted readers are researchers, academics involved in research, and corporates with excellent professional backgrounds from India and other parts of the globe. Its contents have been often used as supportive course materials by the academics and corporate professionals. The journal has been providing opportunity for discussion and exchange of ideas across the widest spectrum of scholarly opinions to promote theoretical, empirical and comparative research on problems confronting the business world. Most of the contributors to this journal range from the outstanding and the well published to the upcoming young academics and corporate functionaries. The journal publishes theoretical as well as applied research works.