Research on the Impact of Economic Policy Uncertainty on Commodity Prices

Abstract

Global economic environment has an important impact on commodity prices. Economic policy uncertainty is an important indicator of global economic environment and an important factor affecting commodity prices. Through empirical research on the impact of global economic policy uncertainty index on global commodity composite index, it is found that Economic policy uncertainty on global commodities comprehensive index, the index of the commodities except gold (energy), fuel prices, oil prices index, the index of fossil fuel, food and beverage prices index, the food price index, industrial base of raw materials prices, agricultural prices index, the index of base metal prices, in addition to the gold metal price index, agriculture as the foundation of raw material The effect of material price index was significant, but not on beverage price index, metal price index, precious metal price index, fertilizer price index, natural gas price index and coal price index. The results show that the increase of economic policy uncertainty will lead to the decline of commodity price index. Therefore, the establishment and implementation of economic policies should consider its influence on the economic base -- commodities, which will have certain reference value for our economic reform.