eng Science and Education Publishing Journal of Finance and Accounting 2333-8857 2017-05-24 5 2 31 39 10.12691/jfa-5-2-1 JFA2017521 article Chen Zhu 1 Liping Chen chenliping@njnu.edu.cn 2 Business School of Nanjing Normal University School of Foreign Languages and Cultures, Nanjing Normal University The main contribution of this paper is to identify the relationship between liquidity excess and futures copper price in developing countries. To this end, we compare various measures of liquidity excess and identify one that can measure the degree of liquidity excess and which is particularly applicable to developing countries like China. Through multiple regression analysis, it is found that liquidity excess accounts for the changes of copper prices in the future market. http://pubs.sciepub.com/jfa/5/2/1/jfa-5-2-1.pdf liquidity excess futures copper prices