Mittwoch, 22. Mai 2013, 17:00 - 18:30 iCal

Financial Markets and the Commodity Price Boom

Macroeconomic and Development Implications for Low-Income Countries

Seminarraum IE
Spitalgasse 2, Hof 5, 1090 Wien


The current commodity price boom in combination with high price volatility is historically unprecedented even in the volatile price history of commodities. Commodity price dynamics have crucial macroeconomic and development implications, in particular for commodity-dependent low-income countries. Commodity prices are determined by fundamental supply and demand conditions which have experienced important structural changes in the last decade. Simultaneously, trading activities on commodity derivative markets are characterized by an increasing presence of financial investors, including banks, institutional investors and hedge funds (labeled as "financialization"). The presentation discusses the functioning of commodity derivative markets and the influence of fundamental factors and financialization on commodity prices and market structure, focusing on the commodities wheat, coffee, cotton and aluminium. The presentation is based on ongoing research conducted in the context of an ÖFSE project on commodity price developments and their macroeconomic and development implications in commodity-dependent low-income countries in Sub-Saharan Africa. For more information see

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Institut für Internationale Entwicklung


Lydia Steinmassl
Institut für Internationale Entwicklung