Repository logo
  • English
  • Deutsch
Log In
or
  1. Home
  2. HSG CRIS
  3. HSG Publications
  4. Have Commodities Become a Financial Asset? Evidence from Ten Years of Financialization
 
  • Details

Have Commodities Become a Financial Asset? Evidence from Ten Years of Financialization

Journal
Energy Economics
Type
journal article
Date Issued
2020-06
Author(s)
Kartsakli, Maria  
Adams, Zeno  
Collot, Solène Marine Sophie  
DOI
https://doi.org/10.1016/j.eneco.2020.104769
Abstract
The financialization of commodity markets over the last decade has changed the behavior of commodity prices in fundamental ways. In this paper, we uncover the gradual transformation of commodities from a physical to a financial asset. Although economic demand and supply factors continue to play an important role, recent indicators associated with financialization have emerged since 2008. We show that financial variables have become the main driving factors explaining the variation in commodity returns and volatility today. Our findings have important implications for portfolio analysis and for the effectiveness of hedging in commodity markets.
Language
English
Keywords
Crude oil
commodities
financialization
R-squared decomposition
HSG Classification
contribution to scientific community
HSG Profile Area
SOF - System-wide Risk in the Financial System
Refereed
Yes
Publisher
Elsevier
Volume
Volume 89, June 2020, 104769
Number
89
Pages
20
Official URL
https://www.sciencedirect.com/science/article/pii/S0140988320301092
URL
https://www.alexandria.unisg.ch/handle/20.500.14171/112072
Subject(s)

economics

business studies

finance

Division(s)

s/bf - Swiss Institut...

SoF - School of Finan...

Contact Email Address
zeno.adams@unisg.ch
Eprints ID
250782
File(s)
Loading...
Thumbnail Image

open.access

Name

1-s2.0-S0140988320301092-main.pdf

Size

2.41 MB

Format

Adobe PDF

Checksum (MD5)

d157bae617839d2e4b9708d3221c899a

here you can find instructions and news.

Built with DSpace-CRIS software - Extension maintained and optimized by 4Science

  • Privacy policy
  • End User Agreement
  • Send Feedback