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We empirically test the dependence of the Russian stock market on the world stock market and world oil prices in the … well as two markets outside Europe (Turkey and South Africa). We apply a rolling regression to identify periods when oil … prices or stock indices in the US and Japan were important. Surprisingly, oil prices are not significant for the Russian …
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The unravelling of the Middle-East peace process continues to baffle the pundits. The early optimism of the Oslo peace accord has now turned into despair. Prime minister Rabin was assassinated by a Jewish extremist. The Palestinians have embarked on a new Intifada. And Israel has re-occupied...
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Over the past century, Israel has been transformed from an agricultural colony, to a welfare-warfare state, to a globally integrated “market economy” characterised by great income disparities. What lies behind this transformation? Why the shift in emphasis from “war profits” to “peace...
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The purpose of this article is to offer an alternative analytical framework for understanding the long term transformation in Israel. First, we argue against the conventional separation between the “political system” and the “economic system.” This separationist approach has been popular...
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A theoretical and historical account of the global political economy of oil, armament and capital accumulation in the …
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