000012592 001__ 12592
000012592 005__ 20180122194726.0
000012592 037__ $$a1800-2016-142326
000012592 041__ $$aen
000012592 245__ $$aDeveloped Speculation and Under Developed Markets - The Role of Futures Trading on Export Prices in Less Developed Countries
000012592 260__ $$c2004
000012592 269__ $$a2004
000012592 270__ $$mfortenbery@aae.wisc.edu$$pFortenbery,   T. Randall
000012592 300__ $$a31
000012592 336__ $$aWorking or Discussion Paper
000012592 446__ $$aEnglish
000012592 490__ $$aStaff Paper Series No. 470
000012592 520__ $$aThis paper examines the relationship between New York coffee futures and cash export prices in Guatemala and Honduras . Cointegration tests suggest that the futures market is serving its price discovery function, and provides a vehicle by which to manage the domestic price risk in export countries. However, further analysis finds that as the percent of speculative open interest increases in the coffee futures market, price volatility increases. This suggests that cash market price risk in exporting countries may actually increase as a result of futures trading activity in developed country futures exchanges.
000012592 650__ $$aInternational Relations/Trade
000012592 700__ $$aFortenbery, T. Randall
000012592 700__ $$aZapata, Hector O.
000012592 8564_ $$s550972$$uhttp://ageconsearch.umn.edu/record/12592/files/stpap470.pdf
000012592 887__ $$ahttp://purl.umn.edu/12592
000012592 909CO $$ooai:ageconsearch.umn.edu:12592$$pGLOBAL_SET
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  Previous issue date: 2004
000012592 982__ $$gUniversity of Wisconsin-Madison>Department of Agricultural and Applied Economics>Staff Papers
000012592 980__ $$a1800