The Role of Market Commodities in the Global Economy and Trade
Markets for commodities play a crucial role in the world economy. Designing policy frameworks that support the economic goals of sustainable growth, inflation stability, poverty reduction, food security, and climate change mitigation requires an understanding of what drives developments in these markets. This study is the first in-depth examination of market and policy developments for all commodity groups over the last century, including energy, metals, and agriculture. The study discovers that although the number of commodities consumed has increased significantly due to population and income growth, their relative importance has changed over time as a result of new uses for some materials made possible by technological advancement and the ease with which commodities could be substituted. What is the Commodity Market? Because stocks and shares are so prevalent in the lives of most investors, everyone today has some understanding of the stock market. Many people who are unaware of t