The
extreme volatility of commodity prices
in world trade over the past year in particular
is one more reflection of the turbulence
in the global economy. While some of these
price changes may have their origin in
financial markets rather than in changes
in real demand and supply, they nonetheless
have major effects upon producers and
consumers.The authors examine trends in
prices of some major commodities in international
trade in the past two years and discuss
their implications.
December 30, 2008.
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