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Regulation of commodity derivative markets: Critical assessment of reforms in the EU

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  • Küblböck, Karin
  • Staritz, Cornelia

Abstract

Commodity prices that are increasingly determined on global commodity derivative markets are important for economic and social development. The historically unprecedented commodity price boom - combined with high volatility - since the early-2000s has led to a debate about the functioning of commodity derivative markets. In the context of an international political consensus on the necessity to reduce excessive speculation, the EU has introduced several reforms. They include important measures on improving transparency, limiting market power and strengthening regulatory authorities but their effectiveness will strongly depend on the implementation rules that are currently discussed. More interventionist regulations that address the fundamental problems of these markets and limit the dominance of financial investors were only marginally addressed.

Suggested Citation

  • Küblböck, Karin & Staritz, Cornelia, 2014. "Regulation of commodity derivative markets: Critical assessment of reforms in the EU," Policy Notes 12/2014, Austrian Foundation for Development Research (ÖFSE).
    • Handle: RePEc:zbw:oefsep:122014
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    References listed on IDEAS

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    1. Stephan Schulmeister, 2012. "Technical Trading and Commodity Price Fluctuations," WIFO Studies, WIFO, number 45238, October.
    2. Heumesser, Christine & Staritz, Cornelia, 2013. "Financialisation and the microstructure of commodity markets: A qualitative investigation of trading strategies of financial investors and commercial traders," Working Papers 44, Austrian Foundation for Development Research (ÖFSE).
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    Cited by:

    1. Staritz, Cornelia & Tröster, Bernhard & Küblböck, Karin, 2015. "Managing commodity price risks: The cases of cotton in Burkina Faso and Mozambique and coffee in Ethiopia," Policy Notes 16/2015, Austrian Foundation for Development Research (ÖFSE).
    2. Österreichische Forschungsstiftung für Internationale Entwicklung (ÖFSE) (ed.), 2015. "Österreichische Entwicklungspolitik 2015. Rohstoffe und Entwicklung," Austrian Development Policy Report, Austrian Foundation for Development Research (ÖFSE), number 268194, October.
    3. Tröster, Bernhard, 2018. "Commodity price stabilization: The need for a policy mix that breaks the vicious cycle of commodity dependence and price volatility," Policy Notes 20/2018, Austrian Foundation for Development Research (ÖFSE).

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