A controversial debate between financial speculation and changes in agricultural commodity spot prices

Autor:	Serrao, Amilcar
Jazyk:	angličtina
Rok vydání:	2016
Předmět:	Futures Markets Financialization Agricultural Finance Agricultural Commodity Spot Prices Speculation Vector Autoregressive (VAR) Model Granger-Causality Relations Financial Economics
DOI:	10.22004/ag.econ.235638
Popis:	Some research works state that speculation with agricultural commodities on the futures market has risen agricultural commodity spot prices. This research work analyzes the causal relationships between spot prices of corn, wheat, and soybean and agricultural commodity futures trading activities. These causal relationships between agricultural commodity spot prices and financial variables are tested for Granger-causality. Model results show that causal relationships have been found among changes in “volume traded” and “open positions” of futures contracts and changes in spot prices for corn. These results do not show that financial speculation might be a major driver of rising agricultural commodity prices.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::f20fbb4cb18b82e6153795a46af89548 Zobrazit plný text záznamu