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Ewolucja działalności inwestorów finansowych na rynkach towarowych

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Dudziński J., Uniwersytet Szczeciński; Wydział Nauk Ekonomicznych i Zarządzania; Instytut Ekonomii
Acta Universitatis Lodziensis. Folia Oeconomica
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2012
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vol. 273
EN
The paper discusses the transformation of the structure of commodity investment, the changes in the strategies adopted by financial investors, and the effects of those changes on both price movements and the relationships between these investments and other financial assets (primarily stocks). In conclusion of the paper the changes in the CFTC classification of investors are presented, which should be considered as the institution’s attempt to adapt to the new economic reality. Based on the existing body of research it may be concluded that the financial crisis not only affected the scale of the involvement of financial investors in commodity markets but also transformed their strategies into more active ones. The structure of commodity investments underwent major changes, diminishing the role of the OTC market in favour of the ETFs. Furthermore, following the changes in the financial investors’ strategies, the prices of individual commodities within commodity groups (owing to index trading) became separated rather than related to the prices of other financial assets (stocks). In response to all the above-mentioned changes, attempts have constantly been made to improve the classifications of commodity investors to ensure more transparency of their operations.
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Nowe relacje cen w handlu międzynarodowym a kierunki rozwoju eksportu krajów Afryki

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Dudziński J., Narękiewicz J.
International Business and Global Economy
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2014
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vol. Volume 33
700–711
EN
The 21st century has witnessed new price relations in international trade, which are expressed by amuch more dynamic growth in prices of primary commodities than manufactured goods. It is related, among others, to the increasing role of China in the world’s economy. On the one hand, this country has been dramatically increasing its demand for primary commodities, while on the other hand – it has been dynamically raising its supply of manufactured goods, thus contributing to world-wide relative decreases in price levels. The new price relations also affect the international trade of African countries, accelerating the export of countries rich in resources and food, and increasing the role of these commodities in the total export of the entire continent. As a consequence, China becomes an ever more relevant player in Africa’s export and economy. The aforementioned processes are accompanied, however, by a phenomenon known in the literature as „deindustrialisation of developing economies” reflected in the increasing share of primary commodities in total export. An indirect effect of these tendencies is a more dynamic growth in export and GDP in countries having strong economic relations with China and a less dynamic economic growth of countries related economically and institutionally with more developed countries (particularly the European Union).
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