Despite experiencing rapid growth in their number and size, African stock markets remain highly segmented, small, illiquid and technologically bankrupt, severely affecting their informational efficiency. On this basis, with specific focus on the weak-form of the efficient markets hypothesis, we...

The aim of this work is to explain the magnitude of the trade flows for high quality wine from Italy to its main importing countries. This objective has been reached by establishing an appropriate econometric model derived from an extended form of the “Gravity Model”. This model has been...