A Handbook of Primary Commodities in the Global Economy
Cambridge University Press, 2008-03-06
EAN 9780521880206, ISBN10: 0521880203
Hardcover, 244 pages, 23.4 x 16 x 2.2 cm
Language: English
The world is going through an exceptional commodity boom triggered by a global demand shock largely caused by the sudden emergence of China and India as sizeable raw material importers. Prices of numerous commodities tripled between 2003 and 2006, resulting in huge windfalls for producers and a financial squeeze on consumers. A Handbook of Primary Commodities in the Global Economy is a guide to the ins and outs of this increasingly crucial part of the world economy. Assuming nothing more from readers than a basic understanding of economics, Marian Radetzki introduces and explains pertinent issues surrounding international commodity markets such as the global geography of raw materials, price formation, price trends, the role of commodity exchanges, the threat of depletion, cartel action, state ownership and the new commodity nationalism.
‘Professor Radetzki has produced a magisterial account of primary commodities and their persistent and critical importance in the world economy. This timely, well-written, and accessible handbook covers the history and geography of the subject as well as the economics, institutions, and controversies involved, and deserves wide readership in industry and government offices as well as in academia.’ Thorvaldur Gylfason, Professor of Economics, University of Iceland
‘A treasure chest of information based on 40 years of research and experience. An essential resource for understanding how commodity markets behave and why.’ John E. Tilton, Research Professor, Colorado School of Mines
‘Markets have short memories. At a time when commodities are being heavily promoted to investors as a new asset class, Radetzki’s book brings a balanced and readable perspective to the analysis of what remain the workhorses of our industrial civilisation.’ David Humphreys, Chief Economist, Norilsk Nickel
'This book is essential reading for all those involved in any way with primary commodities. It provides a good perspective in which to place today's preoccupations, and demonstrates that the underlying issues never change although their relative importance varies over time.' The Ringsider
'It provides a very nice overview of a huge field, i.e., a worldwide scope and a focus on a large number of commodities. The most important strengths of the book include a solid economic analysis of commodity markets but with the avoidance of technical jargon, as well as the author’s ability to pedagogically address a mix of economic, political and historical factors shaping these markets.' Resources, Conservation and Recycling
'Provides several valuable contributions related to primary commodities in international markets. … The book comes at an opportune point in time, provides a wealth of information, and is useful as a guide to really understanding the themes addressed.' The Energy Journal
'A very timely and wide-ranging book.' Journal of Economic Literature
'Wonderfully comprehensive.' Resources Policy