The recent events triggered by the Global Financial Crisis (GFC) have led to calls for regulation of financial (particularly derivative) markets to prevent “destabilizing speculation”. Given that such regulation may involve opportunity costs, this paper examines whether tighter futures price...

In this study, we investigate the existence of long-term co-movements among the prices of commodity futures contracts. We use a cointegration test, which accounts for the presence of a structural break. We show that while there is a long-term relationship among agricultural and among...