Artikel
Financialization, common stochastic trends, and commodity prices
Commodity financialization has been a subject of discussion since the 2008 financial crisis. It is estimated that between 2003 and 2008, index investorsʼ positions increased from $13 billion to $317 billion. Surprisingly, most studies, predominantly based on Granger‐causality testing, find no relationship between financialization and commodity prices. We examine the effects of shocks to the common stochastic trends in the index positions, the spot and futures prices of Chicago corn and soybeans, WTI crude oil and Henry Hub natural gas. The results show that financialization has contributed to the price movements of these commodities.
- Sprache
-
Englisch
- Erschienen in
-
Journal: Journal of Futures Markets ; ISSN: 1096-9934 ; Volume: 41 ; Year: 2021 ; Issue: 12 ; Pages: 1988-2008
- Klassifikation
-
Wirtschaft
- Thema
-
commodities
common trends
financialization
futures prices
index investors
spot prices
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Kupabado, Moses M.
Kaehler, Juergen
- Ereignis
-
Veröffentlichung
- (wer)
-
Wiley
- (wo)
-
Hoboken, NJ
- (wann)
-
2021
- DOI
-
doi:10.1002/fut.22269
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Artikel
Beteiligte
- Kupabado, Moses M.
- Kaehler, Juergen
- Wiley
Entstanden
- 2021
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