Implicazioni della regolazione dei mercati dei derivati sulle materie prime negli USA e nell’Unione Europea ((Implications of regulating commodity derivatives markets in the USA and EU))

Jayati Ghosh

Abstract


The argument for effective financial regulation to curb financial activity and associated volatility in primary commodity markets is now more compelling than ever, in the context of the renewed increase in food prices. However, as in much other financial regulation, the devil is in the detail. This paper considers recent patterns in global food markets and discusses some of the implications of recent moves to regulate financial activity in commodity futures markets in the US and the EU. Specific regulatory issues are considered and alternative strategies are considered.

 

L'argomento per un efficace regolamentazione finanziaria per frenare l'attività finanziaria e la volatilità associata nei mercati delle materie primarie è ora più avvincente che mai, nel contesto del nuovo aumento dei prezzi alimentari. Tuttavia, come in gran parte degli altri regolamenti finanziari, il diavolo si nasconde nei dettagli. Questo lavoro considera i recenti modelli nei mercati alimentari mondiali e discute come alcune delle implicazioni di mosse recenti regolano l'attività finanziaria nei futuri mercati di materie prime negli Stati Uniti e l'Unione europea. Specifici problemi di regolamentazione e strategie alternative sono considerati.

 

JEL: F02, F14, G18, N50

 

 


Keyword


Finance, Commodities, Food

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ISSN 2037-3651

Reg. Tribunale di Roma n.377/2009 del 19/11/2009