The Impacts of Trade Restrictions, Market Imperfections, and Green Finance
13-15 May 2019 Paris (France)

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Exemption of submission fees:

 Are exempted of submission fees:

- the residents of IDB borrowing member countries

- the residents of countries listed “LDCs,” “Other Low Income”, or “Lower Middle-Income” in the most recent “DAC List of ODA Recipients” (OECD)

 

NB:

Online registration will be open soon.

The Conference program will be available by Spring 2019.

 

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The conference will cover commodity pricing and risk management, viewed through the prisms of market imperfections and environmental concerns. The main focus is on agricultural and energy markets, with specific themes intended to shine light on what the organizers and members of the scientific, industry, and policy advisory committees believe will be prominent issues in the near future. 

We are aiming for a total of 12 high-quality research papers plus business panels, with an audience that will bring together academics, industry executives, and policy makers. To be held on May 14 and 15, 2019, the conference will comprise a mix of invited papers (to anchor the conference and set the bar on quality) and submitted papers, plus several panels—all featuring prominent industry practitioners and policy makers. While the principal focus will be on agricultural markets, there will also be components on energy or other commodities, climate, and shipping. 

The number of participants will be kept small (max 50 + up to 20 selected students), and sessions will be run in series (no parallel tracks) in order to maximize the interaction between/ exposure to participants. Priority for conference registration will be given to paper presenters, panel members, and discussants. 

The specific issues, which the conference seeks to tackle, connect finance and the environment: 

1. New takes on derivatives design/effectiveness: risk management in the organic agricultural sector; basis risk and the impact of nearby futures-spot convergence issues on the term structure of grains and oilseed futures prices; effectiveness of US-based derivatives in a world where trade wars and climate change are shifting the geography of agricultural production and trade; modeling catastrophic risk. 

2. Political risk: links between commodity price volatility andtraderestrictions; using crop insurancevs. market-based (derivatives) risk management; implications of the unfolding trade war for basis risk and trading in commodity derivatives markets. 

3. Environmental risk: pricing climate risk; measuring and managing price risk in organic agricultural markets; dealing with stranded energy assets. 

4. Links between technology and commodity market quality(including risks linked to machine trading and liquidity provision in derivatives markets). 

5. Environmental, Social, Governance: ESG-proofing of investments; distributional effects of energy efficiency rules; poverty & energy theft/consumption in developing countries. 

An optional one-day seminar, targeted at select students and industry professionals, will take place on the day prior to the conference (Monday, May 13). The morning on that day will be devoted to the fundamentals of risk management in agricultural markets, with lectures by Professor Delphine Lautier (PSL-Paris Dauphine). The afternoon will feature an intensive practical seminar for current (European business people) and future (students from Illinois and Paris) “fans” of commodity risk management. Professors Lautier and Robe (U of Illinois) will join policy experts (Dr. Mike Adjemian from the USDA) and other academics (Prof. Bruce Sherrick from the U of Illinois, Prof. Joost Pennings from Wageningen U, Prof. Josh Woodard from Cornell U) to discuss crop insurance in the United States and in Europe. 

 

Sponsors

The conference is organized and supported by:

  • "MiMO" Oilseed Markets Research Initiative 
  • InterAmerican Development Bank (IDB)

with additional financial support from: 

  • PSL—Paris-Dauphine Research University (DRM-Finance and LEDA, France)
  • TCCCF—The Clearing Corporation Charitable Foundation 
  • (through the University of Illinois’s CCCF Endowed Professorship in Derivatives Trading)
  • MFRL—Marketing-Finance Research Lab (University of Maastricht, Netherlands)
  • CORMEC—Commodity Risk Management Expertise Center (a joint initiative of Wageningen University, Maastricht University, and the University of Illinois at Urbana-Champaign)
  • LABEX "Finance & Sustainable Growth"—Louis Bachelier Institute
  • Risks and Financial Protection of Agriculture Research Initiative
  • Chair Finance and Sustainable Development
  • FiME Lab Research Initiative

 

Organizers and scientific committee

Organizers: Michel Robe, Delphine Lautier, Joost Pennings, Clémence Alasseur, Damien Fessler 

Scientific Committee: 

  • Mike Adjemian, University of Georgia
  • Yacine Aït-Sahalia, Princeton U
  • Kathy Baylis, U of Illinois  
  • Eugenio Bobenrieth, UC Chile
  • Colin Carter, UC Davis                                    
  • Mike Cook, U of Missouri                              
  • Ivar Ekeland, UBC  
  • Kris Jacobs, U of Houston
  • Will Martin, IFPRI
  • Erica Myers, U of Illinois                                
  • Joëlle Miffre, Audencia Business School         
  • Nikos Nomikos, Cass Business School 
  • Anna Pavlova, London Business School 
  • Bruce Sherrick, U of Illinois   
  • K. Geert Rouwenhorst, Yale U    
  • Duane Seppi, Carnegie Mellon U 
  • Betty Simkins, OK State U 
  • Andres Trujillo-Barrera, U of Idaho
  • Rick van der Ploeg, Oxford U  
  • Kumar Venkataraman, SMU          
  • Josh Woodard, Cornell U                                             

 Regulatory/policy advisory committee & panel members: 

  • Chair: Andrew PowellPrincipal Research Advisor, IADB
  • John Baffes, Senior Economist, World Bank
  • Tassos Haniotis, Director, DG Agriculture, EU
  • Scott Mixon, Associate Director of Research, CFTC
  • Lynda Williams, Deputy Director, Customer Risk, CFTC

 Industry advisors and panel members:

  • Chair: Clémence Alasseur, Heald of Fime Lab, EDF R&D
  • Christophe Beaunoir, CCO, Groupe Avril-Saipol
  • Marie Brière, Head of Investor Research Center, Amundi
  • Bahattin Büyükşahin, Head of Energy Research, ADIA
  • Ron Filler, NYLS; Public Director, NFA and NYSE-Liffe US
  • Nicholas Kennedy, Head of Commodities, Euronext
  • Jeff Kuijpers, Exec. Director, CME Group – Commodities E/ME/A
  • Charles-Albert Lehalle, Capital Fund Management
  • Jean-Michel Lasry, Data Lab – Institut Louis Bachelier

 

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