BACK TO J. M. KEYNES IN REGULATING INTERNATIONAL COMMODITY MARKETS: AN EXTENDED NOTE ON THE «TRANSPARENCY AGENDA»

Author:

WOHLMUTH Karl1

Affiliation:

1. University of Bremen Germany

Abstract

In this paper weak and strong forms of global governance of raw materials markets are compared. This is done by comparing the «transparency agenda» with the «structural reform agenda». John Maynard Keynes has worked for decades academically on commodity markets, on speculation and storage, on forward markets and buffer stocks etc., but he has also practised commercial trading activity on various commodity markets, and he has written and/or influenced the Post-World War Two ICU/ITO (International Clearing Union/International Trade Organization) agendas which are containing detailed provisions for establishing a world order on commodity markets. He was very much interested in the relation between price volatility of raw materials and its impacts on global macroeconomics, but he was also convinced that appropriate regulations of commodity markets and sectors impact positively on peace and development. He was convinced that strong global governance must be based on simple, stable, effective, consensual and binding rules. Now the «transparency agenda» with regard of raw materials is so much debated but it is a rather weak form of global governance, while the «structural reform agenda» represents a rather strong form of global governance of the resources sectors. The «transparency agenda» is discussed in great detail in this paper while the «structural reform agenda» is considered in the Conclusions and Outlook section but needs further elaboration in a follow-up paper.

Publisher

Ternopil National Economic University

Reference144 articles.

1. Acosta, Andres Mejia, 2010, Review of Impact and Effectiveness of Transparency and Accountability Initiatives: Annex 4, Natural Resource Governance, Prepared for the Transparency and Accountability Initiative Workshop, October 14 - 15, 2010, Brighton, Sussex, IDS/Institute of Development Studies, October 2010, 18 pages; Web Access: http://www.ids.ac.uk/files/dmfile/IETAAnnex4NatResGovMejiaAcostaFinal28Oct2010.pdf.

2. ADB/African Development Bank/IACC/International Anti-Corruption Conference, 2010, Fuelling Transparency and Accountability in the Natural Resources and Energy Markets, by Alexandra Gillies, 14Th International Anti-Corruption Conference, 10 – 13 November 2010, Bangkok, Thailand, 11 pages; Web Access: http://14iacc.org/wp-content/uploads/AlexandraGillesNaturalResourcesIACC.pdf.

3. African Development Bank (AfDB)/Development Centre Of The Organization For Economic Co-operation And Development (OECD)/United Nations Development Programme (UNDP)/United Nations Economic Commission For Africa (UNECA), 2013, African Economic Outlook 2013, Special Theme: Structural Transformation and Natural Resources, Paris: OECD Publishing 2012, pages: 357; Web Access: http://www.africaneconomicoutlook.org/en/J o u r n a l o f E u r o p e a nE c o n o m y Vol. 17. 4 (67). October–December 2018 ISSN 2519-4070 391

4. African Development Bank (AfDB)/Development Centre Of The Organization For Economic Co-operation And Development (OECD)/United Nations Development Programme (UNDP)/United Nations Economic Commission For Africa (UNECA), 2012, African Economic Outlook 2012, Special Theme: Promoting Youth Employment, Paris: OECD Publishing, 2012, 291 pages; Web Access (with detailed Country Notes): http://www.africaneconomicoutlook.org/en/

5. Argandona, Antonio, 2006, The United Nations Convention Against Corruption And Its Impact On International Companies, Working Paper, WP no. 656, October 2006, IESE Business School, University of Navarra, «la Caixa» Chair of Corporate Responsibility and Corporate Governance, 22 pages; Web Access: http://www.iese.edu/research/pdfs/DI-0656-E.pdf.

同舟云学术

1.学者识别学者识别

2.学术分析学术分析

3.人才评估人才评估

"同舟云学术"是以全球学者为主线,采集、加工和组织学术论文而形成的新型学术文献查询和分析系统,可以对全球学者进行文献检索和人才价值评估。用户可以通过关注某些学科领域的顶尖人物而持续追踪该领域的学科进展和研究前沿。经过近期的数据扩容,当前同舟云学术共收录了国内外主流学术期刊6万余种,收集的期刊论文及会议论文总量共计约1.5亿篇,并以每天添加12000余篇中外论文的速度递增。我们也可以为用户提供个性化、定制化的学者数据。欢迎来电咨询!咨询电话:010-8811{复制后删除}0370

www.globalauthorid.com

TOP

Copyright © 2019-2024 北京同舟云网络信息技术有限公司
京公网安备11010802033243号  京ICP备18003416号-3