LEADER 03143nam 2200469 450 001 9910795459303321 005 20230808205809.0 010 $a3-8325-9419-1 035 $a(CKB)4340000000244421 035 $a(MiAaPQ)EBC5247171 035 $a58a1c6a9-0064-4f65-8bb2-3edeb0dd2d03 035 $a(EXLCZ)994340000000244421 100 $a20180604d2016 uy 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 10$aDoes speculation with agricultural commodity futures cause price bubbles in the event of negative production shocks? /$fTobias Thu?rer 210 1$aBerlin :$cLogos Verlag Berlin,$d[2016] 215 $a1 online resource (viii, 207 pages) $cillustrations 225 1 $aUA Ruhr studies on development and global governance ;$vBand 65 300 $aPublicationDate: 20160205 311 $a3-8325-3876-3 320 $aIncludes bibliographical references. 330 $aLong description: Since the mid 2000s, an increasing financialization of commodity futures markets is taking place. This has fueled an ongoing discussion about the effect of financial investments on the development of commodity prices. Against this background, the trading activities of financial speculators also come to the fore. There is the concern that such speculators can cause irrational overshootings of agricultural commodity prices, e.g. in the event of global production shocks. In such an event the decrease of total supply induces a price surge menacing food security in developing countries. Yet, the question emerges whether speculation aggravates this price increase, eventually inducing a price bubble. The relevance of this concern is reinforced by the fact that due to climate change an increased frequency and severity of global agricultural production shortfalls is at stake. If speculation evokes an additional threat to food security in the event of a production shock, the political agenda should not be confined to focus solely on the adaptation to climate change. Instead, it is then also necessary to address speculative activities on agricultural commodity markets. This book scrutinises whether speculative bubbles can be identified in the event of severe global production shocks. For this, a framework for tracing the transmission of the futures price's development on the spot market is developed. Using annual data from 1979-2012 for maize it is analysed whether production shock related price bubbles occurred. 410 0$aUA Ruhr studies on development and global governance.$x2363-8869 ;$vBand 65. 606 $aCommodity futures 606 $aFarm produce 606 $aPrices 615 0$aCommodity futures. 615 0$aFarm produce. 615 0$aPrices. 676 $a332.6328 700 $aThu?rer$b Tobias$01526788 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910795459303321 996 $aDoes speculation with agricultural commodity futures cause price bubbles in the event of negative production shocks$93769116 997 $aUNINA