Ewolucja działalności inwestorów finansowych na rynkach towarowych

• Autorzy: Jerzy Dudziński

Warianty tytułu

Evolution of Financial Investors' Operations in Commodity Markets

• Języki publikacji: PL

Abstrakty

Celem opracowania jest ukazanie kierunków i skutków ewolucji działalności inwestorów finansowych na rynkach towarowych. Zostaną w nim przedstawione kwestie przekształcenia struktury "aktywów towarowych" (commodity investment), zmiany strategii inwestorów finansowych i ich skutki w sferze ruchu cen i powiązań z innymi kategoriami aktywów finansowych (akcji). W końcowej części ukazano z kolei zmiany w klasyfikacji inwestorów - dokonywane przez CFTC - co należy traktować jako próbę przystosowania się tej instytucji do zmieniającej się rzeczywistości gospodarczej. (fragment tekstu)

EN

The paper discusses the transformation of the structure of commodity investment, the changes in the strategies adopted by financial investors, and the effects of those changes on both price movements and the relationships between these investments and other financial assets (primarily stocks). In conclusion of the paper the changes in the CFTC classification of investors are presented, which should be considered as the institution's attempt to adapt to the new economic reality. Based on the existing body of research it may be concluded that the financial crisis not only affected the scale of the involvement of financial investors in commodity markets but also transformed their strategies into more active ones. The structure of commodity investments underwent major changes, diminishing the role of the OTC market in favour of the ETFs. Furthermore, following the changes in the financial investors' strategies, the prices of individual commodities within commodity groups (owing to index trading) became separated rather than related to the prices of other financial assets (stocks). In response to all the above-mentioned changes, attempts have constantly been made to improve the classifications of commodity investors to ensure more transparency of their operations. (original abstract)

Słowa kluczowe

PL

Inwestor giełdowy; Giełdy towarowe; Rynki towarowe; Obrót towarowy; Inwestor finansowy

EN

Stock exchange investor; Commodity exchange; Commodity markets; Commodity turnover; Financial investor

• Czasopismo: Acta Universitatis Lodziensis. Folia Oeconomica
• Rocznik: 2012
• Tom: 273 Globalne aspekty kryzysu strefy euro
• Strony: 73--87

Twórcy

autor

Jerzy Dudziński

• Uniwersytet Szczeciński

Bibliografia

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Identyfikatory

DOI

11089/2061