Previous studies on commodity price bubbles mainly focused on futures markets and ignored the performance of spot markets. Using the price data for corn and soybeans in China, this study identifies the exact bubble dates for the futures and spot markets, and finds asynchronous price bubbles...

Substantial danger exists that politically prescribed market interventions, designed to counter a supposed failure of the markets, will leave markets functioning worse rather than better. This is particularly true of Eastern European transition countries, where institutional regulations function...