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Global commodity market disruption and the fallout
Author(s) -
Ferguson Shon,
Ubilava David
Publication year - 2022
Publication title -
australian journal of agricultural and resource economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.683
H-Index - 49
eISSN - 1467-8489
pISSN - 1364-985X
DOI - 10.1111/1467-8489.12497
Subject(s) - commodity , resilience (materials science) , economics , psychological resilience , commodity market , perspective (graphical) , empirical evidence , economy , market economy , development economics , business , finance , psychology , philosophy , physics , epistemology , artificial intelligence , computer science , psychotherapist , thermodynamics
The war in the breadbasket of Europe, which spawned at the heels of the once‐in‐a‐lifetime pandemic, sent major cereal prices spiralling upward. The unprecedented sequence of events leading to and including the war has tested the resilience of global commodity markets and the craftsmanship of policymakers. While the circumstances may differ, the disruption of global commodity markets is not exactly uncharted territory, with many examples and experiences from near and distant history. By showcasing anecdotal and empirical evidence from the past, this study puts the current crisis and its consequences in perspective and offers an outlook with a specific focus on low‐ and middle‐income countries.