this report uses the 2021 Global Opportunity Index and its different categories to provide an overview of Latin America's attractiveness to foreign investors, especially when compared to other emerging markets and developing economies (EMDE). It also offers an in-depth look at Latin America's...

This report summarizes the recent key regulatory changes in the US, Europe, and China. It shows these jurisdictions have different regulatory approaches while being confronted with similar challenges. They all seek the right regulatory balance between: • promoting market efficiency while...

The potential of algal biomass as a source of liquid and gaseous biofuels is a highly topical theme, but as yet there is no successful economically viable commercial system producing biofuel. However, the majority of the research has focused on producing fuels from microalgae rather than from...

This report uses the 2021 Global Opportunity Index and its different categories to provide an overview of Latin America's attractiveness to foreign investors, especially when compared to other emerging markets and developing economies (EMDE). It also offers an in-depth look at Latin America's...

For decades, farmers in the most marginalised regions of Mexico have depended for survival on the illicit cultivation of opium poppy for the US heroin market. In 2017 they could earn up to 20,000 pesos ($950-$1,050 dollars) per kilo of opium, which channelled around 19 billion pesos ($1 billion...

Classic treatments of both the opium industry and the international drug trade tend to leave out Mexico’s opium production. Yet the industry, which emerged in the 1920s, both fulfilled U.S. demands and shaped the Mexican narcotics trade.

We compute a sharp small-time estimate for implied volatility under a general uncorrelated local-stochastic volatility model, with mild linear growth conditions on the drift and vol-of-vol. For this we use the Bellaiche\cite{Bel81} heat kernel expansion combined with Laplace's method to...

This note studies an issue relating to essential smoothness that can arise when the theory of large deviations is applied to a certain option pricing formula in the Heston model. The note identifies a gap, based on this issue, in the proof of Corollary 2.4 in \cite{FordeJacquier10} and describes...