Commodity prices, financial speculation and the food crisis
12 December 2011 4:00 pm
Jayati Ghosh, Jawaharlal Nehru University, New Delhi - Session 2
wiiw, Rahlgasse 3, 1060 Vienna, lecture hall (entrance from the ground floor)
The resurgence of global commodity prices in the past year has once again generated a food crisis with soaring prices in many developing countries. While supply factors are important in the medium term, the recent volatility in global food prices is closely related to financial speculation in commodity futures, as they have effectively become another financial asset class. Regulation to control such financial activity is urgently required.