Skip to main content
SpringerLink
Log in

Commodity, Futures and Financial Markets

  • Book
  • © 1991

Overview

Editors:
  1. Louis Phlips

    1. European University Institute, Florence, Italy

    View editor publications

    You can also search for this editor in PubMed   Google Scholar

Part of the book series: Advanced Studies in Theoretical and Applied Econometrics (ASTA, volume 21)

This is a preview of subscription content, log in via an institution to check access.

Access this book

Log in via an institution
eBook USD 129.00
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book USD 169.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book USD 169.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Other ways to access

Licence this eBook for your library

Institutional subscriptions

Table of contents (10 chapters)

  1. Front Matter

    Pages i-xviii
    Download chapter PDF

  2. Export Earnings

    1. Front Matter

      Pages xvii-xviii
      Download chapter PDF

    2. Market Solutions to the Problem of Stabilizing Commodity Earnings

      • Andrew Hughes Hallett, Prathap Ramanujam
      Pages 1-34

    3. Hedging Commodity Export Earnings with Futures and Option Contracts

      • Joseph Ntamatungiro
      Pages 35-58

    4. Options to Alleviate the Costs of Uncertainty and Instability: A Case Study of Zambia

      • Andrew Powell
      Pages 59-84

  3. Financial Markets and Commodity Prices

    1. Front Matter

      Pages 85-86
      Download chapter PDF

    2. The Response of Primary Commodity Prices to Exchange Rate Changes

      • Christopher L. Gilbert
      Pages 87-124

    3. Exchange Rates and Storables Prices

      • Paul Kofman, Jean-Marie Viaene
      Pages 125-152

    4. An Evaluation of the Performance of Speculative Markets

      • Jerome L. Stein
      Pages 153-178

    5. Dynamic Welfare Analysis and Commodity Futures Markets Overshooting

      • Gordon C. Rausser, Nicholas Walraven
      Pages 179-203

  4. Monopolistic Commodity Markets

    1. Front Matter

      Pages 205-206
      Download chapter PDF

    2. Futures Trading for Imperfect Cash Markets: A Survey

      • Ronald W. Anderson
      Pages 207-248

    3. Duopoly, Inventories and Futures Markets

      • Blaise Allaz
      Pages 249-271

    4. Monopsony Power and the Period of Commitment in Nonrenewable Resource Markets

      • Larry Karp
      Pages 273-300

  5. Back Matter

    Pages 301-301
    Download chapter PDF
Back to top

Keywords

About this book

Louis Phlips The stabilisation of primary commodity prices, and the related issue of the stabilisation of export earnings of developing countries, have traditionally been studied without reference to the futures markets (that exist or could exist) for these commodities. These futures markets have in turn been s~udied in isolation. The same is true for the new developments on financial markets. Over the last few years, in particular sine the 1985 tin crisis and the October 1987 stock exchange crisis, it has become evident that there are inter­ actions between commodity, futures, and financial markets and that these inter­ actions are very important. The more so as trade on futures and financial markets has shown a spectacular increase. This volume brings together a number of recent and unpublished papers on these interactions by leading specialists (and their students). A first set of papers examines how the use of futures markets could help stabilising export earnings of developing countries and how this compares to the rather unsuccessful UNCTAD type interventions via buffer stocks, pegged prices and cartels. A second set of papers faces the fact, largely ignored in the literature, that commodity prices are determined in foreign currencies, with the result that developing countries suffer from the volatility of exchange rates of these currencies (even in cases where commodity prices are relatively stable). Financial markets are thus explicitly linked to futures and commodity markets.

Editors and Affiliations

  • European University Institute, Florence, Italy

    Louis Phlips

Bibliographic Information

Publish with us

Policies and ethics

Back to top

Search

Navigation