2026-09-22T16:41:07Z https://www.ideals.illinois.edu/oai-pmh

oai:www.ideals.illinois.edu:2142/120233 2023-09-05 col_2142_5131 col_2142_13851 com_2142_5130 com_2142_684 com_2142_397

Serra, Teresa Janzen, Joe 2023-05 application/pdf en text Submission original under an indefinite embargo labeled 'Open Access'. The submission was exported from vireo on 2023-09-01 without embargo terms The student, Shuhei Yamamoto, accepted the attached license on 2023-04-04 at 10:51. The student, Shuhei Yamamoto, submitted this Thesis for approval on 2023-04-04 at 10:52. This Thesis was approved for publication on 2023-04-10 at 16:35. DSpace SAF Submission Ingestion Package generated from Vireo submission #18914 on 2023-09-01 at 17:07:58 Autopsy of a market failure:The Dojima Japanese rice futures in the early 21st century Yamamoto, Shuhei 2023-04-10 The Failure Of Futures Market Rice Futures In Japan Batch And Continuous Trading We investigate the Osaka Dojima Exchange (ODEX) Japanese rice futures market to identify the reasons underlying its failure. In 2021 the Japanese government did not authorize permanent listing of the contract citing the limited participation of handlers and ODEX decided to terminate trading. We evaluate a wide range of market characteristics that influence the success of a commodity futures market. We conclude that the spot market did not meet the requirements for the futures market to be successful. The futures market was further unable to provide some of its most relevant functions effectively. The use of the futures contracts essentially as a forward contract did not facilitate the success of the market either. Coupled with all these issues, political opposition and regulatory uncertainty led to the failure of the market by mid-2021. Thesis eng https://hdl.handle.net/2142/120233 Copyright 2023 Shuhei Yamamoto M.S. Thesis Agricultural & Applied Econ University of Illinois at Urbana-Champaign Agr & Consumer Economics