’scontribution to the price discovery process. In general, the market that has a stronger priceimpact and a stronger volatility … spillover tends to be the market that has greater contribution orleadership in price discovery. …

. Additionally, I estimate a market’s contribution to the price discovery process. In general, the market that has a stronger price … impact and a stronger volatility spillover tends to be the market that has greater contribution or leadership in price …

. Derivative markets spread globally in the last quarter century spreading form just two to some 50 in 2007. But the role of … derivative markets to economic development has yet been studied. This paper reports new findings on the relationship between … derivative market development and (a) economic growth and (b) spot market factors. The results provide very scant support to a …

The fruit and vegetable industry does not have a risk management instrument or a well-structured price discovery system …, such as commodity futures contracts, to aid in the marketing and management of its price risk. Since the 1980s, financial …

limited competition. The United States–China price linkage is observed to be closer after China’s World Trade Organization …

, although influenced in small part by past price changes, are not driven by past price changes. The third test consists of …

cocoa price risk using futures contracts. …

In recent years a number of market participants called into question the efficiency of the price discoverymechanism in … apprehension ofpractitioners and market analysts. This paper evaluates the efficiency of the price discovery mechanism incocoa … futures markets. Results show that the price discovery mechanism in both LIFFE and NYBOT cocoafutures markets is efficient. In …

market are lower than without futures, demonstrating the price discovery role of the futures markets. The results also show …