Integration of the Chinese Aluminum Market into the Global Economy and the Efficiency of the Shanghai Futures Exchange : Empirical Study

@inproceedings{Achvarina2003IntegrationOT,
  title={Integration of the Chinese Aluminum Market into the Global Economy and the Efficiency of the Shanghai Futures Exchange : Empirical Study},
  author={Vera Vadimovna Achvarina and Siddharth Chandra and D. Berkowitz and Thomas Rawski},
  year={2003}
}
In my thesis I address two questions regarding the aluminum market in China. The first question analyzes the degree to which the Chinese aluminum market is integrated into the world market. I use the Johansen test for cointegration of time series data in SAS statistical software to compare the volatility of daily aluminum spot prices quoted at the Chinese aluminum Commodity Exchange market in Shanghai (SHFE) relative to its counterparts in London (LME), and New York (COMEX) in order to… CONTINUE READING