Songwe, Vera2012-08-132012-08-132011-11https://hdl.handle.net/10986/10071The 2008 food price crisis was an integral part of the financial crisis. In fact, the food price crisis was the second crisis in a chain of events that began in 2007 with the mortgage crisis, and culminated in the worst financial crisis since the Great Depression. Contrary to what was generally believed in 2008, developing countries, particularly food-importing countries, were part of the early wave of the financial crisis via food price increases, and later suffered another wave via the real sector. The events leading up to the food crisis were global and complex in nature. As a result, as the G-20 discusses solutions to the financial crisis, any new framework must include developing countries, especially low-income countries. In addition, developing countries, especially in Africa, must pay close attention to the work of the Financial Stability Board (FSB) and its recommendations on financial market reform, and over-the-counter (OTC) derivatives in particular, because these reforms will have important consequences for their housing, food, fuel, financial markets, and ultimately their growth and poverty reduction objectives.CC BY 3.0 IGOACCESS TO INFORMATIONACCOUNTINGAGRICULTURAL COMMODITIESAGRICULTUREASSET CLASSASSET CLASSESAVERAGE PRICEBALANCE OF PAYMENTSBANK GOVERNORSBANK POLICYBANKING SECTORBANKSBIDCENTRAL BANKCEREALSCOMMODITYCOMMODITY EXPORTSCOMMODITY PRICECOMMODITY PRICESCONSUMER PRICESCORNCORN PRICESCORPORATE FINANCECREDIT DEFAULTCREDIT DEFAULT SWAPCREDIT DEFAULT SWAPSCREDIT DERIVATIVESCREDIT RISKCREDITWORTHINESSCURRENT ACCOUNT BALANCECURRENT ACCOUNT DEFICITDAIRYDEBTDEBT INSTRUMENTSDEBT OBLIGATIONSDEFAULTSDEPOSITORYDEPOSITORY INSTITUTIONSDERIVATIVEDERIVATIVE CONTRACTSDERIVATIVE INSTRUMENTSDERIVATIVE MARKETDERIVATIVESDERIVATIVES MARKETDERIVATIVES MARKETSDEVELOPING COUNTRIESDEVELOPING COUNTRYDEVELOPING ECONOMIESDEVELOPMENT ASSISTANCEDIVERSIFICATIONDRIED FRUITSECONOMIC CRISESECONOMIC CRISISECONOMIC GROWTHECONOMIC STRUCTUREEMERGING ECONOMIESEXCHANGE RATEEXCHANGE RATE REGIMESEXPENDITUREEXPORT GROWTHEXPORT SHAREFARMERSFEDERAL HOUSINGFEDERAL HOUSING ENTERPRISEFEDERAL RESERVEFEDERAL RESERVE BANKFINANCIAL CONTRACTSFINANCIAL CRISESFINANCIAL CRISISFINANCIAL DERIVATIVEFINANCIAL INNOVATIONFINANCIAL INSTITUTIONSFINANCIAL INSTRUMENTSFINANCIAL MARKETFINANCIAL MARKETSFINANCIAL PRODUCTFINANCIAL PRODUCTSFINANCIAL REFORMFINANCIAL SECTORFINANCIAL SECTORSFINANCIAL SERVICESFINANCIAL STABILITYFINANCIAL SYSTEMFISCAL POLICIESFOOD CONSUMPTIONFOOD IMPORTSFOOD INSECURITYFOOD POLICYFOOD POLICY RESEARCHFOOD PRICEFOOD PRICE SUBSIDIESFOOD PRICESFOOD SECURITYFOOD STOCKSFOOD SUBSIDIESFOODSFOREIGN DIRECT INVESTMENTFOREIGN EXCHANGEFOREIGN EXCHANGE RESERVESFREEZINGFRUITSFUTURESFUTURES MARKETFUTURES MARKETSGLOBAL DEVELOPMENT FINANCEGLOBAL ECONOMIC PROSPECTSGLOBAL ECONOMYGLOBAL FINANCIAL SYSTEMGLOBAL GROSS DOMESTIC PRODUCTGLOBAL INFLATIONGLOBAL MARKETSGLOBAL STANDARDSGLOBALIZATIONGOVERNMENT POLICIESGOVERNMENT POLICYGRAINSGROSS DOMESTIC PRODUCTGROWTH RATEHEDGE FUNDSHOME LOANHOMEOWNERSHOUSEHOLDSHOUSING FINANCEHOUSING MARKETIFPRIILLIQUIDITYINCOMEINCOMESINFLATIONINFORMATION SYSTEMINSTITUTIONAL INVESTORSINSTRUMENTINSURANCEINTEREST RATEINTEREST RATESINTERNATIONAL ECONOMICSINTERNATIONAL FOOD POLICY RESEARCH INSTITUTEINTERNATIONAL MARKETSINTERNATIONAL SETTLEMENTSLOW INTEREST RATESLOW-INCOME COUNTRIESMACROECONOMIC INSTABILITYMAIZEMARKET DEVELOPMENTSMARKET INFORMATIONMARKET REFORMMARKET REGULATIONMARKET RISKMARKET SURVEILLANCEMARKET SURVEILLANCE SYSTEMMARKET VALUEMEATMONETARY FUNDMONETARY POLICYMONEY SUPPLYMORTGAGEMORTGAGE INSTRUMENTSMORTGAGE INTERESTMORTGAGE INTEREST RATEMORTGAGE LOANSMORTGAGE MARKETMORTGAGE-BACKED SECURITYMORTGAGESOIL PRICESPAYMENT HISTORYPOLICY ENVIRONMENTPOLICY RESPONSESPOLITICAL ECONOMYPORTFOLIOPRICE CHANGESPRICE INCREASEPRICE INCREASESPRICE INDEXPRICE RISKSPRICE SUBSIDIESPRICE VOLATILITYPROFITABILITYPROMISSORY NOTESPUBLIC SECTOR BORROWINGPURCHASINGPURCHASING POWERRAPID GROWTHRECESSIONREGULATORSREGULATORY AGENCIESREGULATORY ENVIRONMENTREGULATORY FRAMEWORKREGULATORY POLICIESREGULATORY POLICYRENEWABLE ENERGYRETURNSRISK MANAGEMENTSAFETY NETSAFETY NETSSHORT-TERM INTEREST RATESSOVEREIGN DEBTSOYBEANSOYBEANSSPREADSTOCKSSYSTEMIC RISKTAXTELECOMMUNICATIONSTRADESTRADINGTRADING PLATFORMSTRADING SYSTEMTRADING SYSTEMSTRANSPARENCYTREASURYTREASURY BILLTREASURY BILL RATEUNDERLYING ASSETUNDERLYING ASSETSVALUATIONSVEGETABLESWAREHOUSEWAREHOUSE RECEIPTSWFPWHEATWORLD DEVELOPMENT INDICATORSWORLD ECONOMIESWORLD ECONOMYWORLD FOOD PROGRAMMEWORLD MARKETSWORLD TRADEWorld Bank10.1596/10071