We examine the impact, on commodity derivative markets, of two financial crises: the Subprime crisis and the bankruptcy of Lehman Brothers. These crises are "external" for commodity markets: they appeared in the financial sphere. Still, because now commodity markets are highly integrated,...

This paper proposes a new empirical methodology for computing a cross-market index – coined CMI – based on the Factor DCC-model. This approach solves both problems of treating high-dimensional data and estimating time-varying conditional correlations. We provide an application to a...

We consider a demand based theory along the lines of Murphy et al. (1989) to study the interaction between income inequalities and trade patterns. We analyze the effect of redistributive policies on the production patterns and welfare. We distinguish an intensive and an extensive channels...

This article achieves to assess the impact of Poland’s accession to the European Union (EU) on factor and product markets, household consumption, economic growth and also on welfare. To explore the effects of regional integration in this specific transition economy, we implement an applied...

For many years, African countries have experienced slow economic growth. A major policy tool used to address this issue has been preferential market access whereby, certain developed countries have lowered and sometimes eliminated tariffs on imports from Africa. Despite this special treatment,...

In this issue, El Mouhoub Mouhoud addresses the complexity of the different forms of migrations within the current globalisation of capitalism and brings out the paradoxes arising from them. Without migrants, the countries which are the least well placed in this international competition would...