Global Commodity Markets - Price Volatility and Financialisation
A significant increase in the level and volatility of many commodity prices over the past decade has led to a debate about what has driven these developments. A particular focus has been on the extent to which they have been driven by increased financial investment in commodity derivatives markets. This article examines the factors behind the increase in the level and volatility of commodity prices. The available evidence suggests that while financial investors can affect the short-run price dynamics for some commodities, the level and volatility of commodity prices appear to be primarily determined by fundamental factors.
Volume (Year): (2011)
Issue (Month): (June)
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- Peter C.B.Phillips & Jun Yu, 2009.
"Dating the Timeline of Financial Bubbles During the Subprime Crisis,"
CoFie-07-2009, Sim Kee Boon Institute for Financial Economics.
- Peter C. B. Phillips & Jun Yu, 2011. "Dating the timeline of financial bubbles during the subprime crisis," Quantitative Economics, Econometric Society, vol. 2(3), pages 455-491, November.
- Peter C. B. Phillips & Jun Yu, 2010. "Dating the Timeline of Financial Bubbles during the Subprime Crisis," Cowles Foundation Discussion Papers 1770, Cowles Foundation for Research in Economics, Yale University.
- Peter C. B. Phillips & Jun Yu, 2009. "Dating the Timeline of Financial Bubbles During the Subprime Crisis," Working Papers 18-2009, Singapore Management University, School of Economics.
- Peter C. B. Phillips & Jun Yu, 2009. "Dating the Timeline of Financial Bubbles During the Subprime Crisis," Finance Working Papers 23051, East Asian Bureau of Economic Research.
- Paul Cashin & C. John McCDermott, 2002.
"The Long-Run Behavior of Commodity Prices: Small Trends and Big Variability,"
IMF Staff Papers,
Palgrave Macmillan, vol. 49(2), pages 2.
- Paul Cashin & C. John McDermott, 2001. "The Long-Run Behavior of Commodity Prices: Small Trends and Big Variability," IMF Working Papers 01/68, International Monetary Fund.
- Cevik, Serhan & Saadi Sedik, Tahsin, 2014.
"A Barrel of Oil or a Bottle of Wine: How Do Global Growth Dynamics Affect Commodity Prices?,"
Journal of Wine Economics,
Cambridge University Press, vol. 9(01), pages 34-50, May.
- Tahsin Saadi Sedik & Serhan Cevik, 2011. "A Barrel of Oil or a Bottle of Wine: How Do Global Growth Dynamics Affect Commodity Prices?," IMF Working Papers 11/1, International Monetary Fund.
- Ke Tang & Wei Xiong, 2010. "Index Investment and Financialization of Commodities," NBER Working Papers 16385, National Bureau of Economic Research, Inc.
- Vanessa Rayner & Emily Laing & Jamie Hall, 2011. "Developments in Global Food Prices," RBA Bulletin, Reserve Bank of Australia, pages 15-22, March.
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