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Late-mover advantages and disadvantages in China's futures market

Qing Chang (Department of Future Research, China Agricultural University, Beijing, China)

China Agricultural Economic Review

ISSN: 1756-137X

Article publication date: 17 March 2020

Issue publication date: 11 June 2020

370

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

Copyright © 2020, Emerald Publishing Limited

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