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dc.contributor.authorCHADWICK, Anna Elizabeth
dc.date.accessioned2018-11-28T13:13:39Z
dc.date.available2018-11-28T13:13:39Z
dc.date.issued2017
dc.identifier.citationInternational & comparative law quarterly, 2017, Vol. 66, No. 3, pp. 625-655
dc.identifier.issn0020-5893
dc.identifier.issn1471-6895EN
dc.identifier.urihttps://hdl.handle.net/1814/59684
dc.descriptionPublished online: 26 April 2017
dc.description.abstractEvidence suggests that commodity derivatives speculation contributed to extraordinary patterns of grain price volatility that led to a global food crisis in 2007-11. People in countries throughout the world are increasingly dependent on international commodity markets for access to food. Almost everywhere, now, the value of food is determined by a single condensed symbol of its worthits price. Persuaded of the need to ensure that this measure of value is not put at risk of distortion in the pursuit of financial profit, governments in the US and in the EU are now implementing new regulations designed to curb excessive' levels of speculation in derivative markets. Carrying out an analysis of these regulatory measures, the article demonstrates that both sets of reforms suffer from a critical limitation: They are predicated on an inaccurate understanding of how activity in commodity derivative markets can impact on underlying food prices. If the new regulations for commodity derivative markets are not up to the task, as this article argues that they are not, a more fundamental revision of global economic structures may be required if the basic needs of human beings are not to be subsumed to the interests of financial capital in the years to come.
dc.publisherCambridge University Pressen
dc.relation.ispartofInternational & comparative law quarterly
dc.titleRegulating excessive speculation : commodity derivatives and the global food crisis
dc.typeArticle
dc.identifier.doi10.1017/S0020589317000136
dc.identifier.volume66
dc.identifier.startpage625
dc.identifier.endpage655
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dc.identifier.issue3


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