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Zmiany na rynkach towarowych a regulacje nadzorcze w Unii Europejskiej / Changes on Commodity Markets and Regulation in the European Union

Author

Listed:
  • Jan Żelazny

    (University of Lodz)

Abstract

Commodity markets are important for the shape of the world economy and have experienced numerous structural changes over the span of the last few decades. Prices became more volatile as more and more financial investors began to speculate on commodity markets. Such a process combined with other crucial factors led to market abuses, decreasing the transparency of trade, and excessive speculation. These issues intensifiedand were mostly observed during the subprime mortgage crisis and in the period straight after it. The policymakers around the globe made an effort to diminish those effects and introduced new a policy framework regarding commodity markets. The aim of this paper is to define, present and review the current works and actions taken by the European Union policymakers. This has been done based on an analysis of the new legislation and its possible results.

Suggested Citation

  • Jan Żelazny, 2016. "Zmiany na rynkach towarowych a regulacje nadzorcze w Unii Europejskiej / Changes on Commodity Markets and Regulation in the European Union," International Economics, University of Lodz, Faculty of Economics and Sociology, issue 15, pages 199-210, September.
  • Handle: RePEc:ann:inecon:y:2016:i:15:p:199-210
    as

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    File URL: http://dspace.uni.lodz.pl:8080/xmlui/bitstream/handle/11089/20809/%C5%BBelazny%202016.pdf?sequence=1&isAllowed=y
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    References listed on IDEAS

    as
    1. Ron Alquist & Olivier Coibion, 2013. "The Comovement in Commodity Prices; Sources and Implications," IMF Working Papers 13/140, International Monetary Fund.
    2. Staritz, Cornelia & Küblböck, Karin, 2013. "Re-regulation of commodity derivative markets: Critical assessment of current reform proposals in the EU and the US," Working Papers 45, Österreichische Forschungsstiftung für Internationale Entwicklung (ÖFSE) / Austrian Foundation for Development Research.
    3. Yannick Le Pen & Benoît Sévi, 2013. "Futures trading and the excess comovement of commodity prices," Working Papers 2013-19, Department of Research, Ipag Business School.
    4. repec:ipg:wpaper:2013-019 is not listed on IDEAS
    5. Bicchetti, David & Maystre, Nicolas Maystre, 2013. "The synchronized and long-lasting structural change on commodity markets: Evidence from high frequency data," Algorithmic Finance, IOS Press, vol. 2(3-4), pages 233-239.
    6. repec:dau:papers:123456789/11382 is not listed on IDEAS
    7. repec:ipg:wpaper:19 is not listed on IDEAS
    8. Engelbert Stockhammer, 2010. "Financialization and the Global Economy," Working Papers wp240, Political Economy Research Institute, University of Massachusetts at Amherst.
    9. Michał Falkowski, 2011. "Financialization of commodities," Contemporary Economics, University of Finance and Management in Warsaw, vol. 5(4), December.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    commodity markets; surveillance policies; European Union regulations; financialisation;

    JEL classification:

    • D53 - Microeconomics - - General Equilibrium and Disequilibrium - - - Financial Markets
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • Q02 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Commodity Market

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