Food, Financial Crises, and Complex Derivatives : A Tale of High Stakes Innovation and Diversification
The 2008 food price crisis was an integral part of the financial crisis. In fact, the food price crisis was the second crisis in a chain of events that began in 2007 with the mortgage crisis, and culminated in the worst financial crisis since the G...
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| Format: | Brief |
| Language: | English |
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World Bank, Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2011/11/15462067/food-financial-crises-complex-derivatives-tale-high-stakes-innovation-diversification http://hdl.handle.net/10986/10071 |
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okr-10986-10071 |
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oai_dc |
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Digital Repository |
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Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
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World Bank |
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English |
| topic |
ACCESS TO INFORMATION ACCOUNTING AGRICULTURAL COMMODITIES AGRICULTURE ASSET CLASS ASSET CLASSES AVERAGE PRICE BALANCE OF PAYMENTS BANK GOVERNORS BANK POLICY BANKING SECTOR BANKS BID CENTRAL BANK CEREALS COMMODITY COMMODITY EXPORTS COMMODITY PRICE COMMODITY PRICES CONSUMER PRICES CORN CORN PRICES CORPORATE FINANCE CREDIT DEFAULT CREDIT DEFAULT SWAP CREDIT DEFAULT SWAPS CREDIT DERIVATIVES CREDIT RISK CREDITWORTHINESS CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT DAIRY DEBT DEBT INSTRUMENTS DEBT OBLIGATIONS DEFAULTS DEPOSITORY DEPOSITORY INSTITUTIONS DERIVATIVE DERIVATIVE CONTRACTS DERIVATIVE INSTRUMENTS DERIVATIVE MARKET DERIVATIVES DERIVATIVES MARKET DERIVATIVES MARKETS DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPING ECONOMIES DEVELOPMENT ASSISTANCE DIVERSIFICATION DRIED FRUITS ECONOMIC CRISES ECONOMIC CRISIS ECONOMIC GROWTH ECONOMIC STRUCTURE EMERGING ECONOMIES EXCHANGE RATE EXCHANGE RATE REGIMES EXPENDITURE EXPORT GROWTH EXPORT SHARE FARMERS FEDERAL HOUSING FEDERAL HOUSING ENTERPRISE FEDERAL RESERVE FEDERAL RESERVE BANK FINANCIAL CONTRACTS FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL DERIVATIVE FINANCIAL INNOVATION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL PRODUCT FINANCIAL PRODUCTS FINANCIAL REFORM FINANCIAL SECTOR FINANCIAL SECTORS FINANCIAL SERVICES FINANCIAL STABILITY FINANCIAL SYSTEM FISCAL POLICIES FOOD CONSUMPTION FOOD IMPORTS FOOD INSECURITY FOOD POLICY FOOD POLICY RESEARCH FOOD PRICE FOOD PRICE SUBSIDIES FOOD PRICES FOOD SECURITY FOOD STOCKS FOOD SUBSIDIES FOODS FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE RESERVES FREEZING FRUITS FUTURES FUTURES MARKET FUTURES MARKETS GLOBAL DEVELOPMENT FINANCE GLOBAL ECONOMIC PROSPECTS GLOBAL ECONOMY GLOBAL FINANCIAL SYSTEM GLOBAL GROSS DOMESTIC PRODUCT GLOBAL INFLATION GLOBAL MARKETS GLOBAL STANDARDS GLOBALIZATION GOVERNMENT POLICIES GOVERNMENT POLICY GRAINS GROSS DOMESTIC PRODUCT GROWTH RATE HEDGE FUNDS HOME LOAN HOMEOWNERS HOUSEHOLDS HOUSING FINANCE HOUSING MARKET IFPRI ILLIQUIDITY INCOME INCOMES INFLATION INFORMATION SYSTEM INSTITUTIONAL INVESTORS INSTRUMENT INSURANCE INTEREST RATE INTEREST RATES INTERNATIONAL ECONOMICS INTERNATIONAL FOOD POLICY RESEARCH INSTITUTE INTERNATIONAL MARKETS INTERNATIONAL SETTLEMENTS LOW INTEREST RATES LOW-INCOME COUNTRIES MACROECONOMIC INSTABILITY MAIZE MARKET DEVELOPMENTS MARKET INFORMATION MARKET REFORM MARKET REGULATION MARKET RISK MARKET SURVEILLANCE MARKET SURVEILLANCE SYSTEM MARKET VALUE MEAT MONETARY FUND MONETARY POLICY MONEY SUPPLY MORTGAGE MORTGAGE INSTRUMENTS MORTGAGE INTEREST MORTGAGE INTEREST RATE MORTGAGE LOANS MORTGAGE MARKET MORTGAGE-BACKED SECURITY MORTGAGES OIL PRICES PAYMENT HISTORY POLICY ENVIRONMENT POLICY RESPONSES POLITICAL ECONOMY PORTFOLIO PRICE CHANGES PRICE INCREASE PRICE INCREASES PRICE INDEX PRICE RISKS PRICE SUBSIDIES PRICE VOLATILITY PROFITABILITY PROMISSORY NOTES PUBLIC SECTOR BORROWING PURCHASING PURCHASING POWER RAPID GROWTH RECESSION REGULATORS REGULATORY AGENCIES REGULATORY ENVIRONMENT REGULATORY FRAMEWORK REGULATORY POLICIES REGULATORY POLICY RENEWABLE ENERGY RETURNS RISK MANAGEMENT SAFETY NET SAFETY NETS SHORT-TERM INTEREST RATES SOVEREIGN DEBT SOYBEAN SOYBEANS SPREAD STOCKS SYSTEMIC RISK TAX TELECOMMUNICATIONS TRADES TRADING TRADING PLATFORMS TRADING SYSTEM TRADING SYSTEMS TRANSPARENCY TREASURY TREASURY BILL TREASURY BILL RATE UNDERLYING ASSET UNDERLYING ASSETS VALUATIONS VEGETABLES WAREHOUSE WAREHOUSE RECEIPTS WFP WHEAT WORLD DEVELOPMENT INDICATORS WORLD ECONOMIES WORLD ECONOMY WORLD FOOD PROGRAMME WORLD MARKETS WORLD TRADE |
| spellingShingle |
ACCESS TO INFORMATION ACCOUNTING AGRICULTURAL COMMODITIES AGRICULTURE ASSET CLASS ASSET CLASSES AVERAGE PRICE BALANCE OF PAYMENTS BANK GOVERNORS BANK POLICY BANKING SECTOR BANKS BID CENTRAL BANK CEREALS COMMODITY COMMODITY EXPORTS COMMODITY PRICE COMMODITY PRICES CONSUMER PRICES CORN CORN PRICES CORPORATE FINANCE CREDIT DEFAULT CREDIT DEFAULT SWAP CREDIT DEFAULT SWAPS CREDIT DERIVATIVES CREDIT RISK CREDITWORTHINESS CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT DAIRY DEBT DEBT INSTRUMENTS DEBT OBLIGATIONS DEFAULTS DEPOSITORY DEPOSITORY INSTITUTIONS DERIVATIVE DERIVATIVE CONTRACTS DERIVATIVE INSTRUMENTS DERIVATIVE MARKET DERIVATIVES DERIVATIVES MARKET DERIVATIVES MARKETS DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPING ECONOMIES DEVELOPMENT ASSISTANCE DIVERSIFICATION DRIED FRUITS ECONOMIC CRISES ECONOMIC CRISIS ECONOMIC GROWTH ECONOMIC STRUCTURE EMERGING ECONOMIES EXCHANGE RATE EXCHANGE RATE REGIMES EXPENDITURE EXPORT GROWTH EXPORT SHARE FARMERS FEDERAL HOUSING FEDERAL HOUSING ENTERPRISE FEDERAL RESERVE FEDERAL RESERVE BANK FINANCIAL CONTRACTS FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL DERIVATIVE FINANCIAL INNOVATION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL PRODUCT FINANCIAL PRODUCTS FINANCIAL REFORM FINANCIAL SECTOR FINANCIAL SECTORS FINANCIAL SERVICES FINANCIAL STABILITY FINANCIAL SYSTEM FISCAL POLICIES FOOD CONSUMPTION FOOD IMPORTS FOOD INSECURITY FOOD POLICY FOOD POLICY RESEARCH FOOD PRICE FOOD PRICE SUBSIDIES FOOD PRICES FOOD SECURITY FOOD STOCKS FOOD SUBSIDIES FOODS FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE RESERVES FREEZING FRUITS FUTURES FUTURES MARKET FUTURES MARKETS GLOBAL DEVELOPMENT FINANCE GLOBAL ECONOMIC PROSPECTS GLOBAL ECONOMY GLOBAL FINANCIAL SYSTEM GLOBAL GROSS DOMESTIC PRODUCT GLOBAL INFLATION GLOBAL MARKETS GLOBAL STANDARDS GLOBALIZATION GOVERNMENT POLICIES GOVERNMENT POLICY GRAINS GROSS DOMESTIC PRODUCT GROWTH RATE HEDGE FUNDS HOME LOAN HOMEOWNERS HOUSEHOLDS HOUSING FINANCE HOUSING MARKET IFPRI ILLIQUIDITY INCOME INCOMES INFLATION INFORMATION SYSTEM INSTITUTIONAL INVESTORS INSTRUMENT INSURANCE INTEREST RATE INTEREST RATES INTERNATIONAL ECONOMICS INTERNATIONAL FOOD POLICY RESEARCH INSTITUTE INTERNATIONAL MARKETS INTERNATIONAL SETTLEMENTS LOW INTEREST RATES LOW-INCOME COUNTRIES MACROECONOMIC INSTABILITY MAIZE MARKET DEVELOPMENTS MARKET INFORMATION MARKET REFORM MARKET REGULATION MARKET RISK MARKET SURVEILLANCE MARKET SURVEILLANCE SYSTEM MARKET VALUE MEAT MONETARY FUND MONETARY POLICY MONEY SUPPLY MORTGAGE MORTGAGE INSTRUMENTS MORTGAGE INTEREST MORTGAGE INTEREST RATE MORTGAGE LOANS MORTGAGE MARKET MORTGAGE-BACKED SECURITY MORTGAGES OIL PRICES PAYMENT HISTORY POLICY ENVIRONMENT POLICY RESPONSES POLITICAL ECONOMY PORTFOLIO PRICE CHANGES PRICE INCREASE PRICE INCREASES PRICE INDEX PRICE RISKS PRICE SUBSIDIES PRICE VOLATILITY PROFITABILITY PROMISSORY NOTES PUBLIC SECTOR BORROWING PURCHASING PURCHASING POWER RAPID GROWTH RECESSION REGULATORS REGULATORY AGENCIES REGULATORY ENVIRONMENT REGULATORY FRAMEWORK REGULATORY POLICIES REGULATORY POLICY RENEWABLE ENERGY RETURNS RISK MANAGEMENT SAFETY NET SAFETY NETS SHORT-TERM INTEREST RATES SOVEREIGN DEBT SOYBEAN SOYBEANS SPREAD STOCKS SYSTEMIC RISK TAX TELECOMMUNICATIONS TRADES TRADING TRADING PLATFORMS TRADING SYSTEM TRADING SYSTEMS TRANSPARENCY TREASURY TREASURY BILL TREASURY BILL RATE UNDERLYING ASSET UNDERLYING ASSETS VALUATIONS VEGETABLES WAREHOUSE WAREHOUSE RECEIPTS WFP WHEAT WORLD DEVELOPMENT INDICATORS WORLD ECONOMIES WORLD ECONOMY WORLD FOOD PROGRAMME WORLD MARKETS WORLD TRADE Songwe, Vera Food, Financial Crises, and Complex Derivatives : A Tale of High Stakes Innovation and Diversification |
| relation |
Economic Premise; No. 69 |
| description |
The 2008 food price crisis was an
integral part of the financial crisis. In fact, the food
price crisis was the second crisis in a chain of events that
began in 2007 with the mortgage crisis, and culminated in
the worst financial crisis since the Great Depression.
Contrary to what was generally believed in 2008, developing
countries, particularly food-importing countries, were part
of the early wave of the financial crisis via food price
increases, and later suffered another wave via the real
sector. The events leading up to the food crisis were global
and complex in nature. As a result, as the G-20 discusses
solutions to the financial crisis, any new framework must
include developing countries, especially low-income
countries. In addition, developing countries, especially in
Africa, must pay close attention to the work of the
Financial Stability Board (FSB) and its recommendations on
financial market reform, and over-the-counter (OTC)
derivatives in particular, because these reforms will have
important consequences for their housing, food, fuel,
financial markets, and ultimately their growth and poverty
reduction objectives. |
| format |
Publications & Research :: Brief |
| author |
Songwe, Vera |
| author_facet |
Songwe, Vera |
| author_sort |
Songwe, Vera |
| title |
Food, Financial Crises, and Complex Derivatives : A Tale of High Stakes Innovation and Diversification |
| title_short |
Food, Financial Crises, and Complex Derivatives : A Tale of High Stakes Innovation and Diversification |
| title_full |
Food, Financial Crises, and Complex Derivatives : A Tale of High Stakes Innovation and Diversification |
| title_fullStr |
Food, Financial Crises, and Complex Derivatives : A Tale of High Stakes Innovation and Diversification |
| title_full_unstemmed |
Food, Financial Crises, and Complex Derivatives : A Tale of High Stakes Innovation and Diversification |
| title_sort |
food, financial crises, and complex derivatives : a tale of high stakes innovation and diversification |
| publisher |
World Bank, Washington, DC |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2011/11/15462067/food-financial-crises-complex-derivatives-tale-high-stakes-innovation-diversification http://hdl.handle.net/10986/10071 |
| _version_ |
1764411718005424128 |
| spelling |
okr-10986-100712021-04-23T14:02:48Z Food, Financial Crises, and Complex Derivatives : A Tale of High Stakes Innovation and Diversification Songwe, Vera ACCESS TO INFORMATION ACCOUNTING AGRICULTURAL COMMODITIES AGRICULTURE ASSET CLASS ASSET CLASSES AVERAGE PRICE BALANCE OF PAYMENTS BANK GOVERNORS BANK POLICY BANKING SECTOR BANKS BID CENTRAL BANK CEREALS COMMODITY COMMODITY EXPORTS COMMODITY PRICE COMMODITY PRICES CONSUMER PRICES CORN CORN PRICES CORPORATE FINANCE CREDIT DEFAULT CREDIT DEFAULT SWAP CREDIT DEFAULT SWAPS CREDIT DERIVATIVES CREDIT RISK CREDITWORTHINESS CURRENT ACCOUNT BALANCE CURRENT ACCOUNT DEFICIT DAIRY DEBT DEBT INSTRUMENTS DEBT OBLIGATIONS DEFAULTS DEPOSITORY DEPOSITORY INSTITUTIONS DERIVATIVE DERIVATIVE CONTRACTS DERIVATIVE INSTRUMENTS DERIVATIVE MARKET DERIVATIVES DERIVATIVES MARKET DERIVATIVES MARKETS DEVELOPING COUNTRIES DEVELOPING COUNTRY DEVELOPING ECONOMIES DEVELOPMENT ASSISTANCE DIVERSIFICATION DRIED FRUITS ECONOMIC CRISES ECONOMIC CRISIS ECONOMIC GROWTH ECONOMIC STRUCTURE EMERGING ECONOMIES EXCHANGE RATE EXCHANGE RATE REGIMES EXPENDITURE EXPORT GROWTH EXPORT SHARE FARMERS FEDERAL HOUSING FEDERAL HOUSING ENTERPRISE FEDERAL RESERVE FEDERAL RESERVE BANK FINANCIAL CONTRACTS FINANCIAL CRISES FINANCIAL CRISIS FINANCIAL DERIVATIVE FINANCIAL INNOVATION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL PRODUCT FINANCIAL PRODUCTS FINANCIAL REFORM FINANCIAL SECTOR FINANCIAL SECTORS FINANCIAL SERVICES FINANCIAL STABILITY FINANCIAL SYSTEM FISCAL POLICIES FOOD CONSUMPTION FOOD IMPORTS FOOD INSECURITY FOOD POLICY FOOD POLICY RESEARCH FOOD PRICE FOOD PRICE SUBSIDIES FOOD PRICES FOOD SECURITY FOOD STOCKS FOOD SUBSIDIES FOODS FOREIGN DIRECT INVESTMENT FOREIGN EXCHANGE FOREIGN EXCHANGE RESERVES FREEZING FRUITS FUTURES FUTURES MARKET FUTURES MARKETS GLOBAL DEVELOPMENT FINANCE GLOBAL ECONOMIC PROSPECTS GLOBAL ECONOMY GLOBAL FINANCIAL SYSTEM GLOBAL GROSS DOMESTIC PRODUCT GLOBAL INFLATION GLOBAL MARKETS GLOBAL STANDARDS GLOBALIZATION GOVERNMENT POLICIES GOVERNMENT POLICY GRAINS GROSS DOMESTIC PRODUCT GROWTH RATE HEDGE FUNDS HOME LOAN HOMEOWNERS HOUSEHOLDS HOUSING FINANCE HOUSING MARKET IFPRI ILLIQUIDITY INCOME INCOMES INFLATION INFORMATION SYSTEM INSTITUTIONAL INVESTORS INSTRUMENT INSURANCE INTEREST RATE INTEREST RATES INTERNATIONAL ECONOMICS INTERNATIONAL FOOD POLICY RESEARCH INSTITUTE INTERNATIONAL MARKETS INTERNATIONAL SETTLEMENTS LOW INTEREST RATES LOW-INCOME COUNTRIES MACROECONOMIC INSTABILITY MAIZE MARKET DEVELOPMENTS MARKET INFORMATION MARKET REFORM MARKET REGULATION MARKET RISK MARKET SURVEILLANCE MARKET SURVEILLANCE SYSTEM MARKET VALUE MEAT MONETARY FUND MONETARY POLICY MONEY SUPPLY MORTGAGE MORTGAGE INSTRUMENTS MORTGAGE INTEREST MORTGAGE INTEREST RATE MORTGAGE LOANS MORTGAGE MARKET MORTGAGE-BACKED SECURITY MORTGAGES OIL PRICES PAYMENT HISTORY POLICY ENVIRONMENT POLICY RESPONSES POLITICAL ECONOMY PORTFOLIO PRICE CHANGES PRICE INCREASE PRICE INCREASES PRICE INDEX PRICE RISKS PRICE SUBSIDIES PRICE VOLATILITY PROFITABILITY PROMISSORY NOTES PUBLIC SECTOR BORROWING PURCHASING PURCHASING POWER RAPID GROWTH RECESSION REGULATORS REGULATORY AGENCIES REGULATORY ENVIRONMENT REGULATORY FRAMEWORK REGULATORY POLICIES REGULATORY POLICY RENEWABLE ENERGY RETURNS RISK MANAGEMENT SAFETY NET SAFETY NETS SHORT-TERM INTEREST RATES SOVEREIGN DEBT SOYBEAN SOYBEANS SPREAD STOCKS SYSTEMIC RISK TAX TELECOMMUNICATIONS TRADES TRADING TRADING PLATFORMS TRADING SYSTEM TRADING SYSTEMS TRANSPARENCY TREASURY TREASURY BILL TREASURY BILL RATE UNDERLYING ASSET UNDERLYING ASSETS VALUATIONS VEGETABLES WAREHOUSE WAREHOUSE RECEIPTS WFP WHEAT WORLD DEVELOPMENT INDICATORS WORLD ECONOMIES WORLD ECONOMY WORLD FOOD PROGRAMME WORLD MARKETS WORLD TRADE The 2008 food price crisis was an integral part of the financial crisis. In fact, the food price crisis was the second crisis in a chain of events that began in 2007 with the mortgage crisis, and culminated in the worst financial crisis since the Great Depression. Contrary to what was generally believed in 2008, developing countries, particularly food-importing countries, were part of the early wave of the financial crisis via food price increases, and later suffered another wave via the real sector. The events leading up to the food crisis were global and complex in nature. As a result, as the G-20 discusses solutions to the financial crisis, any new framework must include developing countries, especially low-income countries. In addition, developing countries, especially in Africa, must pay close attention to the work of the Financial Stability Board (FSB) and its recommendations on financial market reform, and over-the-counter (OTC) derivatives in particular, because these reforms will have important consequences for their housing, food, fuel, financial markets, and ultimately their growth and poverty reduction objectives. 2012-08-13T10:20:07Z 2012-08-13T10:20:07Z 2011-11 http://documents.worldbank.org/curated/en/2011/11/15462067/food-financial-crises-complex-derivatives-tale-high-stakes-innovation-diversification http://hdl.handle.net/10986/10071 English Economic Premise; No. 69 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research :: Brief Publications & Research |