266
Views
1
CrossRef citations to date
0
Altmetric
Original Articles

Hedging, Arbitrage, and the Financialization of Commodities Markets

REFERENCES

  • Acharya, V.; L. Loechster; and T. Ramadorai. 2013. “Limits to Arbitrage and Hedging: Evidence from Commodity Markets.” Journal of Financial Economics 109, no. 2: 441–65.
  • Adjemian, M.K.; P. Garcia; S. Irwin; and A. Smith. 2013. “Non-Convergence in Domestic Commodity Futures Markets: Causes, Consequences, and Remedies.” United States Department of Agriculture Economic Information Bulletin, no. 115.
  • Alloway, T., and A. Massoudi. 2013. “ETFs Under Scrutiny in Market Turbulence.” Financial Times, June 27.
  • Barclays. 2013. “The Commodity Investor 2013.” Barclays Commodities Research. www.barclays (accessed November 2015).
  • Basu, P., and W. Gavin. 2011. “What Explains the Growth in Commodity Derivatives?” Review, Federal Reserve Bank of St. Louis (January): 37–48.
  • Bicchetti, D., and N. Maystre. 2013. “The Synchronized and Long-Lasting Structural Change on Commodity Markets: Evidence from High Frequency Data.” Algorithmic Finance, IOS Press, 2, nos. 3–4: 233–39.
  • Brunetti, C., and D. Reiffen. 2014 “Commodity Index Trading and Hedging Costs.” Journal of Financial Economics 21, no. C: 153–80.
  • Cheng I.-H., and W. Xiong. 2014. “Why Do Hedgers Trade So Much?” Journal of Legal Studies 43, no. 2: 183–207.
  • Chester, L. 2013. “The Organization, Operation, and Outcomes of Actually Existing Markets: A Suggested Approach for Empirical Analysis.” American Journal of Economics and Sociology 72, no. 2: 386–422.
  • Degryse, H.; F. de Jong; and V. van Kervel. 2011. “The Impact of Dark and Visible Fragmentation on Market Quality.” Tilburg University, Center for Economic Research, Discussion Paper 2011–069.
  • Fabozzi, F.; F. Modigliani; F. Jones; and M. Ferri. 2002. Foundations of Financial Markets and Institutions. Englewood Cliffs, NJ: Prentice Hall.
  • Frenk, D., and M. Masters. 2010. “Anthropic Finance and Better Markets: Toward a New Understanding of How Markets Function and the Role They Serve in Society.” Anthropic Finance: How Markets Function. http://www.bettermarkets.com/sites/default/files/documents/Anthropic%20Finance%20July%202010_0.pdf.
  • Henderson, B.; N. Pearson; and L. Wang. 2015. “New Evidence on the Financialization of Commodity Markets.” Review of Financial Studies 28, no. 5: 1285–311.
  • Kaminska, I. 2010. “Is ‘Cash for Commodity’ the Biggest Trade in Town?” Financial Times Alphaville, July 15. http://ftalphaville.ft.com//2010/07/15/287481/is-cash-for-commodities (accessed October 22, 2015).
  • ———. 2012. “The Subpriming of Commodities.” Financial Times Alphaville, May 8. http://ftalphaville.ft.com/2012/05/08/990211/the-subpriming-of-comm.
  • ———. 2014. “How the Dumb Money was set up for Commodity Failure.” Financial Times Alphaville, November 5. http://ftalphaville.ft.com/2014/11/05/2030732/how-the-dumb-money (accessed December 2015).
  • Minsky, H. 1993. “Schumpeter and Finance.” In Market and Institutions in Economic Development: Essays in Honour of Paulo Sylos Labini, ed. S. Biasco, A. Roncaglia, and M. Salvati, 103–15. New York: St. Martin’s Press.
  • Mirowski, P. 2010. “Inherent Vice: Minsky, Markomata, and the Tendency of Markets to Undermine Themselves.” Journal of Institutional Economics 6, no. 4: 415–43.
  • Mohammadian-Molina, R. 2012 “Investment Flows in Commodities Markets and the Relationship with Prices.” Barclays Commodities Investor.
  • Mooney, D. 2011. “Active Commodities Versus Exchange-Traded Funds and Index Investments.” Schroders Talking Point.
  • Mou, Y. 2010. “Limits to Arbitrage and Commodity Index Investment: Front-Running the Goldman Roll.” November 19. http://ssrn.com/abstract=1716841/ or http://dx.doi.org/10.2139/ssrn.1716841 (accessed December 2015).
  • Newman, S. 2008. “The Role of International Commodity Exchanges in the Formation and Transmission of Prices and Price Risk along International Coffee Chains.” NCCR Trade Regulation, Swiss National Center of Competence in Research Center, Working Paper no. 2008/12.
  • Rose, C. 2010. “Dark Pools and Flash Orders: The Secret World of Automated High-Frequency Trading.” Journal of Business and Economics Research 8: 11–16.
  • Shleifer, A., and R. Vishny. 1997. “The Limits of Arbitrage.” Journal of Finance 52, no. 1: 35–55.
  • Tang K., and W. Xiong 2012. “Index Investment and the Financialization of Commodities.” Financial Analysts Journal 68, no. 6: 54–74.
  • United Nations Conference on Trade and Development (UNCTAD). 2015. Report on Trade and Development. Geneva.
  • United States Senate. 2014. “Wall Street Bank Involvement with Physical Commodities.” Majority and Minority Staff Report, Permanent Subcommittee on Investigations.
  • Vayanos, D., and D. Gromb. 2010a. “Limits of Arbitrage.” Annual Review of Financial Economics, Annual Reviews, 2, no. 1: 251–75.
  • ———. 2010b. “The “Limits of Arbitrage” Agenda.” CEPR Policy Portal, April 10, 2010. http://www.voxeu.org/article/limits-arbitrage-agenda (accessed January 18, 2016).

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.