Abstract
Based on empirical research, this paper studies the time series data of typical and representative price fluctuation range of titanium dioxide in China from January 2011 to May 2013 by the ARCH cluster models. We find by the empirical data that the market price of titanium dioxide in China is in a constant state of random fluctuation; titanium dioxide market has poor self-adjustment, a sound market regulatory system has not yet formed; titanium dioxide market does not have the characteristics of high-return with high-risk; the impact of information in titanium dioxide market is asymmetrical, that is, the price rising from good news impact has a greater change compared with the price decline caused from the bad news on equal force. Thus, moderate government intervention is required objectively in titanium dioxide market in China. Therefore, this paper puts forward some suggestions to prevent the wide fluctuations in the price of titanium dioxide.
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