Offshore Stock Index Futures' Influence on Mainland Stock Market
研究了香港H股指数期货和新加坡新华富时A50指数期货对内地A股市场的影响，发现H股指数期货与A股指数存在协整关系且前者是后者的格兰杰原因。
The paper discusses the influences of H stock index futures and FTSE/Xinhua A50 stock index futures on mainland stock market.The paper finds that offshore H stock index futures have significant influences on domestic A share market;there are cointegration between Hongkong H index futures and A stock index.Furthermore, H stock index futures granger causes domestic A stock index.However,Chinese stock market uni-directional influences on Singapore FTSE/Xinhua futures.At last,some suggestions are put forward.