Index Investment and the Financialization of Commodities

By Ke Tang. 2012

1,612 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Renewable Energy, Sustainability and the Environment

View Paper: https://www.semanticscholar.org/paper/dcfcaa14ec64ce14028d34cb9c9611333eee0348

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Citations in the corpus

Investor Flows and the 2008 Boom/Bust in Oil Prices (2014, background): “So this figure can, at best, only give a partial picture of (16)Tang and Xiong (2011) conclude that “the price of an individual commodity is no longer simply determined by its supply and demand. Instead, prices are also determined by ... the risk appetite for financial assets, and investment behavio”
Dynamic spillover effects among crude oil, precious metal, and agricultural commodity futures markets (2017, background): “Finally, the financialization of commodity markets appears to have increased the degree of integration across the energy, metal, and agricultural commodity markets (Tang and Xiong, 2012; Nazlioglu et al., 2013).”
Commodity market based hedging against stock market risk in times of financial crisis: The case of crude oil and gold (2018, background): “In addition, recent empirical literature has provided evidence that the correlations across commodity prices and returns have increased actually starting from 2004 (see e.g, Tang & Xiong, 2012).”
Has the U.S. Finance Industry Become Less Efficient? on the Theory and Measurement of Financial Intermediation (2015, positive): “For commodity prices, some practitioners (e.g., Hadas 2011) seem to argue that prices have become less informative (see also Tang and Xiong (2011)).”
Assessing contagion risk from energy and non-energy commodity markets (2017, background): “Recognition of the potential diversification benefits of investing in commodity markets stimulated, in fact, the rapid growth of commodity index investments and triggered a process of financialization among commodity markets (Tang and Xiong, 2012).”
Financialization and Structural Change in Commodity Futures Markets (2012, background): “Tang and Xiong (2010) argue that commodity markets were not fully integrated with financial markets prior to the development of commodity index investments and, "The increasing presence of index investors in commodities markets precipitated a fundamental process of financialization amongst the commo”
Time-Varying Impact of Geopolitical Risks on Oil Prices (2020, methodology): “…in oil, due to their null or negative correlation with stock returns, were used as a diversification and a hedging tool (Babalos et al., 2015), while after the global crisis oil prices became more correlated with each other and with stock prices (Tang and Xiong, 2012; Silvennoinen and Thorp, 2013).”
Energy, precious metals, and GCC stock markets: Is there any risk spillover? (2019, background): “As expectations have become the major price determinant, this financialization of commodities has led to even greater price volatility and intermittently greater informational connections with other risky assets (Tang and Xiong, 2012; Buyuksahin and Robe, 2013; Arezki et al., 2013).”
The Impact of Index and Swap Funds on Commodity Futures Markets: Preliminary Results (2010, background): “Some of these studies find evidence that commodity index funds have impacted commodity futures prices (Gilbert, 2009; Einloth, 2009; Tang and Xiong, 2010).”