World prices and reforms of the global financial system

Abstract

The article analyzes the dynamics of world prices for basic goods and major factors that have impact on it. It is noted that financialization of commodity markets has a notable influence on the formation of world prices. Main trends in the movements of prices for raw materials and food that formed in the period after the global crisis are revealed. The author assesses the possible changes in prices in the medium perspective as well as estimates the possibility of coordinated regulation of commodity and financial markets in order to reduce frequent and bi-directed fluctuations in them. The steps taken by international economic organizations in order to prevent large-scale inflows and outflows of speculative capitals to and from exchange markets are considered.