Excerpt: Shifting Commodity Markets in a Globalized World

Excerpt: Shifting Commodity Markets in a Globalized World
Author: Mr.Rabah Arezki
Publisher: International Monetary Fund
Total Pages: 25
Release: 2017-09-22
Genre: Business & Economics
ISBN: 1484320816

This paper discusses developments and prospects for energy, metals, and food markets since the early 2000s, the start of what is termed a commodities supercycle—the rise of commodity prices over a decade or more as a result of a rapid urbanization and an expansion of infrastructure. Macroeconomists often assume that technological innovation is exogenous (driven largely by external factors or forces), but this volume documents how innovation in energy markets is directly affected by prices. When oil, natural gas, or fossil fuels become scarce, prices increase. This stimulates innovation and the adoption of new technologies and techniques for recovery and use of these resources. Conversely, when these commodities are abundant, prices fall, slowing the pace of innovation and the adoption of new techniques. At the heart of international trade in commodities are cross-country differenc¬es in resource endowments. Natural resources are materials or substances that occur in nature and can be used for economic gain, and so these include not only reserves of hydrocarbons, minerals, fisheries, and forests, but also temperate weather, fertile land, and access to water, which are important to agriculture.

The New Economics Of The Less Developed Countries

The New Economics Of The Less Developed Countries
Author: Nake Kamrany
Publisher: Routledge
Total Pages: 267
Release: 2019-07-11
Genre: Business & Economics
ISBN: 1000303861

After a quarter-century of experimentation with economic development in the poorer countries, the disarray, and in some cases the calamitous results, are so obvious that a fresh look at and reexamination of traditional assumptions, methodologies, theories, and policies is needed. The contributors to this volume explore—with supporting theoretical frameworks and emipirical evidence—the new perceptions concerning the development of the poor countries, providing clear and sophisticated treatments of North-South bargaining, commodity power, indexation, the theory of power and the international distribution of rights and resources, and the effectiveness of international organizations as vehicles for conflict resolution. The authors discuss the position and prospects of the non-oil-producing, less developed countries, focusing on measurements of the quality of life in these countries, growth and income distribution policies, and the effectiveness of public expenditures to enhance social welfare.

Commodities in Crisis

Commodities in Crisis
Author: Alfred Maizels
Publisher: Oxford University Press, USA
Total Pages: 336
Release: 1992
Genre: Business & Economics
ISBN:

With the dramatic changes in the global political scene, many developing countries are re-evaluating their economic and political priorities. This reappraisal scrutinizes their dependence on specific commodities and the crisis into which this market has been thrown in the last decade. This work relates the main theoretical and empirical issues in the collapse in commodity prices since 1980--a major cause of the Third World economic crises--to perceived conflicts of interest between developed and developing countries. Maizels continues his study by discussing the elements of a new approach to an effective commodity policy for the future. He includes coverage of such major problems as the impact of commodity instability on the global economy, market structure, as well as synthetics and diversification. This study will be of interest to academics and students of development economics and international trade as well as to policymakers in developing countries.

Crude Oil as a Strategic Power Factor in International Relations

Crude Oil as a Strategic Power Factor in International Relations
Author: Alexander Eriksröd
Publisher:
Total Pages: 28
Release: 2013-05
Genre:
ISBN: 9783656418832

Research Paper (Pre-University) from the year 2013 in the subject Business economics - Economic Policy, grade: 1,0, - (International Business College Hetzendorf), course: Internationale Wirtschafts- u. Kulturraume, language: English, abstract: This academic research paper sets out to examine the role of oil in international politics. It will first be studied which importance oil carries as a commodity and power factor. Examples for the use of oil in international relations are given to illustrate the more theoretical backgrounds. This paper employs two main examples: Norway, as an example of an oil-rich country and net exporter, and the Arctic region as an area of possible future conflict over oil. Using these examples, the different national interests will be shown to demonstrate what is at stake for the national states as well as for the international community.

Commodity Frontiers and Global Capitalist Expansion

Commodity Frontiers and Global Capitalist Expansion
Author: Sabrina Joseph
Publisher: Palgrave Macmillan
Total Pages: 0
Release: 2019-07-03
Genre: Business & Economics
ISBN: 9783030153212

This interdisciplinary edited collection explores the dynamics of global capitalist expansion through the concept of the ‘commodity frontier’. Applying an inductive approach rather than starting at the global level, as most meta-narratives have done, this book sheds light on how local dynamics have shaped the process of capitalist expansion into ‘uncommodified’ spaces. Contributors demonstrate that ultimately the evolution of frontier zones and their reconfiguration over time have transformed human ecology, labour relations and social, economic and political structures across the globe. Chapters examine agricultural and pastoral frontiers, natural habitats, and commodity frontiers with fossil fuels and mineral resources located in various regions of the world, including South America, Asia, Africa and the Arabian Gulf.

Principles of Commodity Economics and Finance

Principles of Commodity Economics and Finance
Author: Daniel P. Ahn
Publisher: MIT Press
Total Pages: 229
Release: 2019-04-09
Genre: Business & Economics
ISBN: 0262038374

A rigorous but practical introduction to the economic, financial, and political principles underlying commodity markets. Commodities have become one of the fastest growing asset classes of the last decade and the object of increasing attention from investors, scholars, and policy makers. Yet existing treatments of the topic are either too theoretical, ignoring practical realities, or largely narrative and nonrigorous. This book bridges the gap, striking a balance between theory and practice. It offers a solid foundation in the economic, financial, and political principles underlying commodities markets. The book, which grows out of courses taught by the author at Columbia and Johns Hopkins, can be used by graduate students in economics, finance, and public policy, or as a conceptual reference for practitioners. After an introduction to basic concepts and a review of the various types of commodities—energy, metals, agricultural products—the book delves into the economic and financial dynamics of commodity markets, with a particular focus on energy. The text covers fundamental demand and supply for resources, the mechanics behind commodity financial markets, and how they motivate investment decisions around both physical and financial portfolio exposure to commodities, and the evolving political and regulatory landscape for commodity markets. Additional special topics include geopolitics, financial regulation, and electricity markets. The book is divided into thematic modules that progress in complexity. Text boxes offer additional, related material, and numerous charts and graphs provide further insight into important concepts.

Handbook of Multi-Commodity Markets and Products

Handbook of Multi-Commodity Markets and Products
Author: Andrea Roncoroni
Publisher: John Wiley & Sons
Total Pages: 1076
Release: 2015-02-19
Genre: Business & Economics
ISBN: 0470661836

Handbook of Multi-Commodity Markets and ProductsOver recent decades, the marketplace has seen an increasing integration, not only among different types of commodity markets such as energy, agricultural, and metals, but also with financial markets. This trend raises important questions about how to identify and analyse opportunities in and manage risks of commodity products. The Handbook of Multi-Commodity Markets and Products offers traders, commodity brokers, and other professionals a practical and comprehensive manual that covers market structure and functioning, as well as the practice of trading across a wide range of commodity markets and products. Written in non-technical language, this important resource includes the information needed to begin to master the complexities of and to operate successfully in today’s challenging and fluctuating commodity marketplace. Designed as a practical practitioner-orientated resource, the book includes a detailed overview of key markets – oil, coal, electricity, emissions, weather, industrial metals, freight, agricultural and foreign exchange – and contains a set of tools for analysing, pricing and managing risk for the individual markets. Market features and the main functioning rules of the markets in question are presented, along with the structure of basic financial products and standardised deals. A range of vital topics such as stochastic and econometric modelling, market structure analysis, contract engineering, as well as risk assessment and management are presented and discussed in detail with illustrative examples to commodity markets. The authors showcase how to structure and manage both simple and more complex multi-commodity deals. Addressing the issues of profit-making and risk management, the book reveals how to exploit pay-off profiles and trading strategies on a diversified set of commodity prices. In addition, the book explores how to price energy products and other commodities belonging to markets segmented across specific structural features. The Handbook of Multi-Commodity Markets and Products includes a wealth of proven methods and useful models that can be selected and developed in order to make appropriate estimations of the future evolution of prices and appropriate valuations of products. The authors additionally explore market risk issues and what measures of risk should be adopted for the purpose of accurately assessing exposure from multi-commodity portfolios. This vital resource offers the models, tools, strategies and general information commodity brokers and other professionals need to succeed in today’s highly competitive marketplace.

Commodity Politics

Commodity Politics
Author: Adam Sneyd
Publisher: McGill-Queen's Press - MQUP
Total Pages: 255
Release: 2022-02-15
Genre: History
ISBN: 0228010195

Responsibility is political. As the international community has called for more responsible environmental, social, and governance performance, the politics of commodities has become more fraught. Commodity Politics cuts through the new rhetoric of responsibility and presents innovative research from Cameroon to provide a better understanding of the political complexity surrounding commodity production and trade in the twenty-first century. Assessing the perspectives of businesses, international organizations, governments, and civil society groups, the authors offer insights gleaned from years of field research in a commodity-dependent country. Commodity Politics presents case studies of sugar, palm oil, cocoa, and the Chad-Cameroon pipeline project. These cases uncover a problematic politics that is much broader than the implications of corporate social responsibility codes for people and the planet, delivering solid rationales for policy-makers and commodity stakeholders to think more deeply about investor-driven approaches to improving environmental, social, and governance conduct. This book trains students and scholars to better recognize political intricacies and consequential flash points. Immersing its readers in timely debates over the meaning and intent of responsibility, Commodity Politics breaks new ground in the political analysis of development.