气候风险冲击如何与农业市场联系起来?

IF 3.7 4区 经济学 Q1 BUSINESS, FINANCE
Kun Guo , Yichong Li , Yunhan Zhang , Qiang Ji , Wanli Zhao
{"title":"气候风险冲击如何与农业市场联系起来?","authors":"Kun Guo ,&nbsp;Yichong Li ,&nbsp;Yunhan Zhang ,&nbsp;Qiang Ji ,&nbsp;Wanli Zhao","doi":"10.1016/j.jcomm.2023.100367","DOIUrl":null,"url":null,"abstract":"<div><p><span>In the climate-sensitive agricultural sector, product prices are particularly susceptible to climate risks. In this study, we constructed three novel climate risk perception indices—a climate policy uncertainty index, a climate physical risk index, and a climate concern index—using </span>natural language processing and text mining to investigate their differential effects on bulk agricultural prices. The findings indicate that the responses of agricultural product prices to climate risk perceptions are more pronounced in the short term than in the long term. Moreover, the impacts of climate-related concerns and physical risks have stronger impacts than climate policy uncertainty. The dynamic analysis results also indicate that climate-related events have a great impact on investors and financial markets. Overall, the findings suggest that climate risk perceptions have become a significant factor in agricultural product price changes, which has important implications for policy regulators and market investors.</p></div>","PeriodicalId":45111,"journal":{"name":"Journal of Commodity Markets","volume":"32 ","pages":"Article 100367"},"PeriodicalIF":3.7000,"publicationDate":"2023-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"How are climate risk shocks connected to agricultural markets?\",\"authors\":\"Kun Guo ,&nbsp;Yichong Li ,&nbsp;Yunhan Zhang ,&nbsp;Qiang Ji ,&nbsp;Wanli Zhao\",\"doi\":\"10.1016/j.jcomm.2023.100367\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><p><span>In the climate-sensitive agricultural sector, product prices are particularly susceptible to climate risks. In this study, we constructed three novel climate risk perception indices—a climate policy uncertainty index, a climate physical risk index, and a climate concern index—using </span>natural language processing and text mining to investigate their differential effects on bulk agricultural prices. The findings indicate that the responses of agricultural product prices to climate risk perceptions are more pronounced in the short term than in the long term. Moreover, the impacts of climate-related concerns and physical risks have stronger impacts than climate policy uncertainty. The dynamic analysis results also indicate that climate-related events have a great impact on investors and financial markets. Overall, the findings suggest that climate risk perceptions have become a significant factor in agricultural product price changes, which has important implications for policy regulators and market investors.</p></div>\",\"PeriodicalId\":45111,\"journal\":{\"name\":\"Journal of Commodity Markets\",\"volume\":\"32 \",\"pages\":\"Article 100367\"},\"PeriodicalIF\":3.7000,\"publicationDate\":\"2023-10-20\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Journal of Commodity Markets\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S2405851323000570\",\"RegionNum\":4,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"BUSINESS, FINANCE\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Commodity Markets","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S2405851323000570","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
引用次数: 0

摘要

在气候敏感型农业部门,产品价格特别容易受到气候风险的影响。在这项研究中,我们构建了三个新的气候风险感知指数——气候政策不确定性指数、气候物理风险指数和气候关注指数,并使用自然语言处理和文本挖掘来研究它们对大宗农产品价格的差异影响。研究结果表明,农产品价格对气候风险认知的响应在短期内比在长期内更为明显。此外,气候相关问题和物理风险的影响比气候政策不确定性的影响更大。动态分析结果还表明,气候相关事件对投资者和金融市场的影响较大。总体而言,研究结果表明,气候风险认知已成为农产品价格变化的一个重要因素,这对政策监管机构和市场投资者具有重要意义。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
How are climate risk shocks connected to agricultural markets?

In the climate-sensitive agricultural sector, product prices are particularly susceptible to climate risks. In this study, we constructed three novel climate risk perception indices—a climate policy uncertainty index, a climate physical risk index, and a climate concern index—using natural language processing and text mining to investigate their differential effects on bulk agricultural prices. The findings indicate that the responses of agricultural product prices to climate risk perceptions are more pronounced in the short term than in the long term. Moreover, the impacts of climate-related concerns and physical risks have stronger impacts than climate policy uncertainty. The dynamic analysis results also indicate that climate-related events have a great impact on investors and financial markets. Overall, the findings suggest that climate risk perceptions have become a significant factor in agricultural product price changes, which has important implications for policy regulators and market investors.

求助全文
通过发布文献求助,成功后即可免费获取论文全文。 去求助
来源期刊
CiteScore
5.70
自引率
2.40%
发文量
53
期刊介绍: The purpose of the journal is also to stimulate international dialog among academics, industry participants, traders, investors, and policymakers with mutual interests in commodity markets. The mandate for the journal is to present ongoing work within commodity economics and finance. Topics can be related to financialization of commodity markets; pricing, hedging, and risk analysis of commodity derivatives; risk premia in commodity markets; real option analysis for commodity project investment and production; portfolio allocation including commodities; forecasting in commodity markets; corporate finance for commodity-exposed corporations; econometric/statistical analysis of commodity markets; organization of commodity markets; regulation of commodity markets; local and global commodity trading; and commodity supply chains. Commodity markets in this context are energy markets (including renewables), metal markets, mineral markets, agricultural markets, livestock and fish markets, markets for weather derivatives, emission markets, shipping markets, water, and related markets. This interdisciplinary and trans-disciplinary journal will cover all commodity markets and is thus relevant for a broad audience. Commodity markets are not only of academic interest but also highly relevant for many practitioners, including asset managers, industrial managers, investment bankers, risk managers, and also policymakers in governments, central banks, and supranational institutions.
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
确定
请完成安全验证×
copy
已复制链接
快去分享给好友吧!
我知道了
右上角分享
点击右上角分享
0
联系我们:info@booksci.cn Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号:481959085
Book学术官方微信