本文選題：石油定價(jià)體系 + 金融屬性�。� 參考：《對(duì)外經(jīng)濟(jì)貿(mào)易大學(xué)》2017年碩士論文

【摘要】：本文通過對(duì)現(xiàn)行國際和國內(nèi)石油定價(jià)體系的研究,探討當(dāng)前的國際環(huán)境下建立市場化石油定價(jià)體系,提升中國在國際石油定價(jià)話語權(quán)的方法途徑。本文從宏觀和虛擬的角度,對(duì)石油定價(jià)理論、相關(guān)文獻(xiàn)和定價(jià)體系的演變進(jìn)行梳理,得出以布倫特和WTI等原油期貨合約為主要基準(zhǔn)價(jià)格,原油期貨市場為定價(jià)場所的國際石油價(jià)格體系的內(nèi)在成因。并基于此,建立的原油現(xiàn)貨和期貨價(jià)格定價(jià)公式和模型。通過定性分析的方法對(duì)主要基準(zhǔn)原油市場展開研究,指出市場充分的流動(dòng)性、市場交易的透明性、基準(zhǔn)原油股權(quán)的多元化是這些市場具有定價(jià)權(quán)的關(guān)鍵特性。在國內(nèi)石油定價(jià)機(jī)制方面,則采用靜態(tài)對(duì)比法,剖析現(xiàn)行定價(jià)機(jī)制和存在的問題,這也是造成中國缺少石油定價(jià)權(quán)和話語權(quán)的主要原因。研究表明,中國只有擁有自己的原油期貨市場,才能擴(kuò)大在石油定價(jià)體系中的影響力。因此,本文結(jié)合上述基準(zhǔn)市場的共性提出了建立國內(nèi)成熟完善的期貨市場的可行性觀點(diǎn)。
[Abstract]:By studying the current international and domestic oil pricing systems, this paper discusses the ways to establish market-oriented oil pricing system under the current international environment and to promote China's right to speak in international oil pricing. This paper combs the evolution of oil pricing theory, related literature and pricing system from macroscopic and fictitious angles, and draws a conclusion that the crude oil futures contracts such as Brent and WTI are the main benchmark prices. The internal cause of the international oil price system in which the crude oil futures market is the place of pricing. Based on this, the pricing formula and model of crude oil spot and futures prices are established. Through the qualitative analysis of the main benchmark crude oil markets, it is pointed out that the market has sufficient liquidity, the transparency of the market transactions, and the diversification of benchmark crude oil equity is the key characteristics of these markets with pricing power. In the aspect of domestic oil pricing mechanism, static contrast method is adopted to analyze the current pricing mechanism and existing problems, which is also the main reason for the lack of pricing power and discourse power in China. Research shows that only if China has its own crude oil futures market can it expand its influence in the oil pricing system. Therefore, this paper puts forward the feasibility view of establishing domestic mature futures market according to the commonness of the benchmark market mentioned above.
【學(xué)位授予單位】：對(duì)外經(jīng)濟(jì)貿(mào)易大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2017
【分類號(hào)】：F764.1;F426.22
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本文編號(hào)：1786792