Study On The Relationship Between The Futures Market And The Local Economic Development

As a essential part of financial market, futures market has been known by more and more people. Although there are some twists and turns and rectification process in the process of growing up, but this does not hinder the development of futures market prosperity. Since the futures market expands rapidly, its theoretical research is not enough, which will not be effectively guide it towards the direction of healthy and fast development, the final will hinder the progress of the futures market. Based on the above reasons, this paper makes a bold exploration of the relationship between the futures market and the local economy.First, in the beginning part summarizes the economic development theory, the financial development theory, the regional economy theory, and the quantitative economics theory. In the middle of the article, makes a detailed description for the different function of futures market in promoting local economic, and then introduces the emphasis of different futures function in different development stage areas. Secondly, this paper uses the quantity economics relevant theoretical knowledge, based on a vast amount of literature, integrating theory with practice, and selecting corresponding economic indicators, establishing appropriate mathematical model and then making a empirical analyze. It is divided into two parts, the first part is selecting the national31provinces and cities with in the scope of a total of13index of the cross section data, then using the canonical correlation analysis for empirical research.. In the second part, taking Hebei province as an example, selecting time series data from2005to2012, a total of six indexes to granger causality test. The results show that, in the whole country, the futures market and the GDP of average per capita total equity is negatively correlated, but the net assets, charges and the number of practitioners and per capita GDP were positively correlated. In the scope of Hebei Province, the futures market turnover, fees, the number of employed persons in Hebei province showed a positive correlation with the Hebei GDP. And the total amount of margin of futures market was negatively related to Hebei GDP. At the end of the article, according to the empirical results, combined with the actual situation of Heibei province, and put forward the corresponding suggestions.The innovation of this paper is:based on the futures market varies as a function of the detail of the impact on the local economy development process; described in the initial stage, development stage, mature stage area different demand emphasis on the function of futures market; empirical is divided into two parts, two different have different empirical methods and data types, but the results are the same, greatly increased the creditability of the results.