FINANCIAL SPECULATION AND FOOD PRICE FLUCTUATIONS

March 19, 2009 at 10:37 pm | Posted in Development, Economics, Financial, Globalization, Research, Third World, World-system | Leave a comment

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FOOD PRICE FLUCTUATION DRIVEN

BY FINANCIAL SPECULATION – UN REPORT

UNNews UNNews@un.org

Thu, 19 Mar 2009

FOOD PRICE FLUCTUATION DRIVEN BY FINANCIAL

SPECULATION – UN REPORT

New York, Mar 19 2009

Both the surging food prices from 2007 to 2008 and their subsequent drop in some areas are a result of large-scale speculation by financial investors, according to a new report by the United Nations trade body, which called for greater regulation to protect millions of poor people worldwide.

Increased transparency is needed in futures markets for vital commodities such as food, said the report by the UN Conference on Trade and Development:

http://www.unctad.org/Templates/Startpage.asp?intItemID=2068〈=1 UNCTAD

which also stressed the importance of regulators having greater power to step in when speculation in futures drives up the price of food.

There have been speculative bubbles for certain commodities on some occasions, the publication, entitled “The Global Economic Crisis: Systemic Failures and Multilateral Remedies,” found.

It also said that speculation in housing, currencies and commodities led to a disconnect from the ‘real’ economy because appropriate prices could not be determined.

By the time these bubbles had burst, the current global economic crisis was inevitable, UNCTAD said.

The “herd” behaviour behind this kind of speculation went unregulated, the report stated, appealing for reforms of the international financial and monetary systems to allow for government intervention and international oversight.

It pegged greed as the reason for the severity of the current crisis, and said there should have been regulations and practical policies in place to anticipate short-sightedness.

Also to blame for the financial turmoil is the de-regulation, both within and between countries, the new publication said.

The “markets know best” approach failed to consider the possibility that markets can, in fact, fail, according to the report, which pointed out that existing economic risk indicators show low risk at the peak of the credit cycle, when risk levels are high.
Mar 19 2009

For more details go to UN News Centre at http://www.un.org/news

FOOD PRICE FLUCTUATION DRIVEN BY FINANCIAL SPECULATION – UN REPORT

UNNews UNNews@un.org

UN News Centre

Thu, 19 Mar 2009

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BANK FOR INTERNATIONAL SETTLEMENTS BIS REVIEW NO. 32: CENTRAL BANKS AND FINANCIAL STABILITY

March 19, 2009 at 4:15 pm | Posted in Economics, Financial, Globalization, Research | Leave a comment

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BIS Review

Bank for International Settlements

BIS Review No 32 available‏

Press, Service (Press.Service@bis.org)

Publications, Service (Publications@bis.org)

Thu 3/19/09

Please find BIS Review No 32 attached as an Adobe Acrobat (PDF) file.

Alternatively, you can access this BIS Review on the Bank for International Settlements’ website by clicking on http://www.bis.org/review/index.htm.

What’s included?

BIS Review No 32 (19 March 2009)

Mervyn King: Finance – a return from risk

T T Mboweni: Central banks and financial stability – some lessons for the future

Tarisa Watanagase: Aspects of optimal supervisory arrangements

Mary C Nkosi: Promoting the development and regulation of capital markets in Malawi

Yandraduth Googoolye: Maintaining the stability of the payments and financial system in Mauritius

please e-mail press.service@bis.org.

BIS Review

Bank for International Settlements

BIS Review No 32 available

Press, Service (Press.Service@bis.org)

Publications, Service (Publications@bis.org)

http://www.bis.org/review/index.htm

Thu 3/19/09

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IMF RESEARCH: FINANCIAL GLOBALIZATION

March 19, 2009 at 11:04 am | Posted in Development, Economics, Financial, Research, World-system | Leave a comment

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IMF Update: IMF Research Bulletin

NewContent@InternationalMonetaryFund.org

IMF Research Bulletin — March 2009

Wed 3/18/09

New item of interest:

IMF Research Bulletin — March 2009: IMF research summaries on measures of financial integration (by Martin Schindler) and on sovereign wealth funds and financial stability (by Tao Sun and Heiko Hesse); regional study on cross-border labor flows in new European Union member states (by Rudolfs Bems); listing of contents of Vol. 56 No. 1 of IMF Staff Papers, a special issue on frontiers of research on financial globalization; a listing of visiting scholars at the IMF during December 2008-March 2009; and a listing of recent IMF Working Papers.
http://www.imf.org/External/Pubs/FT/irb/2009/01/index.pdf

To view and print pdf files you need the free Adobe Acrobat Reader which is available at http://www.adobe.com/products/acrobat/readstep.html.

For tracking globalization and its impact on individual economies, please see the new IMF Survey magazine online at http://www.imf.org/external/pubs/ft/survey/so/home.aspx News, views, and analysis from the IMF.

IMF Update: IMF Research Bulletin

NewContent@InternationalMonetaryFund.org

IMF Research Bulletin — March 2009

Vol. 56 No. 1 of IMF Staff Papers a special issue on frontiers of research on financial globalization

Wed 3/18/09

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“SAVING THE AMERICAS”: ANDRES OPPENHEIMER BOOK

March 19, 2009 at 5:03 am | Posted in Books, Development, Economics, Financial, Globalization, Latin America, USA | Leave a comment

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Saving the Americas: The Dangerous Decline of Latin

America and What The U.S. Must Do

by Andres Oppenheimer (Author)

Editorial Reviews

Product Description

Once again, Pulitzer Prize-winning columnist Andres Oppenheimer shows his deep understanding of the dramatic changes in Latin America, and the impact of America’s ongoing indifference to the region. For anyone seeking to understand Latin America’s re-emerging populism and the effects of this administration’s disastrous foreign policy in the region, this book
is a must read. Oppenheimer gives his readers hope for a new vision in Latin America.”
—Bill Richardson, Governor of New Mexico

This new book out in October illustrates in detail how the current administration’s policy towards Latin America is actually creating the very immigration issues President Bush is fighting to solve. Saving the Americas: The Dangerous Decline of Latin America…and What the U.S. Must Do, by Pulitzer-prize co-winner and The Miami Herald syndicated columnist Andres Oppenheimer, highlights the Bush administration’s failure to reach out to its own neighbors in order to create a stable environment for the people of the United States.

“When it comes to everyday issues that affect most Americans —whether immigration, trade, the environment or, increasingly, energy— no region in the world has a bigger impact on the United States than Latin America,” writes Oppenheimer.

As an acknowledged expert on Latin America, Oppenheimer uses his experience and reporting skills to show how this region is becoming increasingly less important on the world stage, and the resulting negative effects on the lives of Americans. “This book began as a message to Latin Americans about the decline of their region into global irrelevance. But it soon became clear to me that what I was learning was equally
important to people in the United States,” says Oppenheimer. “Though less apparent to most Americans —and less costly— than its blunders elsewhere in the world, the Bush Administration was making major mistakes in Latin America, among other things by declaring the region a major U.S. priority while ignoring it almost entirely, and reflexively pushing free trade as if that alone would ensure hemispheric prosperity.”

Oppenheimer traveled to China, India, Poland, the Czech Republic, Ireland and more than a dozen Latin American countries to see first-hand what is pushing some nations ahead and others back. And in his characteristic style – mixing travel anecdotes, humor and political analysis – he came to surprising conclusion: that despite its current troubles, Latin America can rise from economic and political obscurity, to become a booming market and an influential player in world affairs.

The Spanish-language version of Saving the Americas: The Dangerous Decline of Latin America…and What the U.S. Must Do (Cuentos Chinos) has sold nearly 200,000 copies throughout Latin America and made the region to take a hard look at itself. Costa Rican President and Nobel Prize laureate Oscar Arias has called Oppenheimer’s book “A landmark work…that politicians, academics, journalists and other leaders will be citing for years to come,” and former Brazilian President Fernando Henrique Cardoso describred it as “a must-read.”
Now the English version is set to cause the same reaction within the United States.

About the Author

ABOUT THE AUTHOR

ANDRES OPPENHEIMER is the Latin American editor and foreign affairs columnist with The Miami Herald. His syndicated column, The Oppenheimer Report, appears twice a week in The Miami Herald and in more than 40 U.S. and Latin American newspapers, including La Nacion of Argentina and Reforma of Mexico. He is a regular political
analyst with CNN en Español, and a frequent guest at PBS’ Jim Lehrer News Hour. He also hosts his own television talk show in Spanish on current events, Oppenheimer Presenta.

His previous positions at The Miami Herald included Mexico City bureau chief, foreign correspondent, and business writer. He previously worked for five years with The Associated Press in New York, and has contributed on a free-lance basis to The New York Times, The Washington Post, The New Republic, CBS News, and the BBC.

Oppenheimer is the co-winner of the 1987 Pulitzer Prize as a member of The Miami Herald team that uncovered the Iran-Contra scandal. He won the Inter-American Press Association Award twice (1989 and 1994); the 1997 award of the National Association of Hispanic Journalists; the 1993 Ortega y Gasset Award of Spain’s daily El País; the 1998 Maria Moors Cabot Award of Columbia University; the 2001 King of Spain Award, given out by the Spanish news agency EFE and King Juan Carlos I of Spain; and an Overseas Press Club Award in 2002. The Ortega y Gasset and the King of Spain awards are the two most prestigious journalism awards in the Spanish-speaking world.

Born in Buenos Aires, Argentina, he studied law for four years at the University of Buenos Aires’ Law School, and moved to the United States in 1976 with a fellowship from the World Press Institute. After a year at Macalester College in St. Paul, Minnesota, he obtained a Master’s degree in Journalism from Columbia University in New York in 1978.

Oppenheimer was selected by the Forbes Media Guide as one of the “500 most important journalists” of the United States in 1993, and by Poder magazine as one of the “100 most powerful people” in Latin America in 2002.

For more information on Andres Oppenheimer: www.AndresOppenheimer.com

Product Details:

  • Hardcover: 300 pages

  • Publisher: Random House Mondadori

  • October 23, 2007

  • Language: English

  • ISBN-10: 0307391655

  • ISBN-13: 978-0307391650

Saving the Americas: The Dangerous Decline of

Latin America and What The U.S. Must Do

by Andres Oppenheimer (Author)

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“CHINA’S FINANCIAL MARKETS”: DB RESEARCH

March 19, 2009 at 2:08 am | Posted in China, Development, Economics, Financial, Globalization, History, Research, World-system | Leave a comment

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DEUTSCHE BANK RESEARCH

DB Research – China’s financial

markets – a future global force?‏

mailsystem.dbresearch@db.com

Mon 3/16/09

Dear reader,

We have just issued the following publication “Current Issues” – which is available at our website: http://www.dbresearch.com/PROD/DBR_INTERNET_EN-PROD/PROD0000000000238901.pdf

Current Issues:

China’s financial markets – a future global force?

China’s financial markets have enjoyed a period of strong growth since the early 1990s and China’s share in global financial markets is set to continue its growth in future years. However, it would be unrealistic to expect China to emerge unscathed from the global recession. All the more, granting greater market access to foreign financials will be a vital prerequisite for sustained development, and greater integration and regulatory convergence efforts, especially with the US and the EU, should be key policy objectives.

Internet: http://www.dbresearch.com

Pay us a visit!

If you have any further questions, please do not hesitate to contact us: marketing.dbr@db.com

In order to read our research you will require the Adobe Acrobat Reader which can be obtained free of charge from their website:
http://www.adobe.de/products/acrobat/download/readstep.html

DEUTSCHE BANK RESEARCH

DB Research – China’s financial markets

a future global force?‏

mailsystem.dbresearch@db.com

http://www.dbresearch.com

Mon 3/16/09

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“IS INFLATION UNAVOIDABLE?”: DB RESEARCH

March 19, 2009 at 1:49 am | Posted in Economics, Financial, Germany, Globalization, History, Research | Leave a comment

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Deutsche Bank Research

DB Research – Norbert Walter:

Money creation and no end –

is inflation unavoidable?‏

mailsystem.dbresearch@db.com

Fri 3/13/09

Dear reader,

We have just issued the following note which is available on our website under the heading “Talking point”:

Money creation and no end – is inflation unavoidable?

To limit the negative effects of the economic crisis, central banks worldwide are boosting the money supply. This expansionary monetary policy increases inflation worries. But it is as easy to reduce money supply as it is to increase it – if central banks are empowered and willing to do this….

Please find the complete text here:
http://www.dbresearch.com/PROD/DBR_INTERNET_EN-PROD/PROD0000000000238984.xhtml

DB Research commentaries are now available as podcasts:
http://www.dbresearch.com/podcast_en

If you have any further questions, please do not hesitate to contact us:
Deutsche Bank Research
Marketing
marketing.dbr@db.com
Internet:
http://www.dbresearch.com

Deutsche Bank Research

DB Research – Norbert Walter:

Money creation and no end – is inflation unavoidable?‏

mailsystem.dbresearch@db.com

http://www.dbresearch.com

Fri 3/13/09

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