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铁矿石对中国钢铁行业乃至对整个国民经济都非常重要,研究国际国内铁矿石期货之间的风险溢出关系及定价权的转移对中国经济影响深远。通过对金融市场风险溢出效应研究方法和期货市场风险溢出效应研究现状的文献成果进行分析和评述,总结出现有的国内外风险溢出成果主要集中在股市、债市及银行等金融市场,而对商品期货市场之间的风险溢出研究相对不足。未来的金融市场间风险溢出效应及定价权转移的研究可以重点关注商品期货市场,尤以铁矿石期货为主攻方向。
Iron ore is very important to China’s iron and steel industry and even to the entire national economy. Studying the risk spillover between international and domestic iron ore futures and the shift of pricing power have a far-reaching impact on the Chinese economy. Through the research on the risk spillover effect of financial markets and the literature research on the current situation of risk spillover effect in the futures market, the paper summarizes the existing domestic and international risk spillover results mainly in the financial markets such as stock market, bond market and bank, Research on risk spillovers in futures markets is relatively inadequate. The future research on the risk spillover effect and transfer of pricing rights in financial markets may focus on the commodity futures market, especially the iron ore futures.