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...

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...

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.

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...

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...

We derive a small-time expansion for out-of-the-money call options under an exponential Levy model, using the small-time expansion for the distribution function given in Figueroa-Lopez & Houdre (2009), combined with a change of num\'eraire via the Esscher transform. In particular, we quantify...

In this paper we prove an approximate formula expressed in terms of elementary functions for the implied volatility in the Heston model. The formula consists of the constant and first order terms in the large maturity expansion of the implied volatility function. The proof is based on...