Brazil's first ethanol futures contract, which was implemented in 2000, failed to offer sufficient liquidity to attract market agents. The purpose of this study is to determine whether the new ethanol futures contracts launched by BMF-BOVESPA in 2010 meet the requirements to render them...

This paper investigates the effects of ethnic violence on export-oriented firms and their workers. Following the disputed 2007 Kenyan presidential election, export volumes of flower firms affected by the ensuing violence dropped by 38 percent and worker absence exceeded 50 percent. Large firms...

We present the case study of a fast growing agribusiness cooperative in Ethiopia, Oromia Coffee Farmers Cooperative Union (OCFCU). OCFCU was established in 1999 by 34 cooperatives and a capital of US$90,000. Nowadays, OCFCU has 240 cooperatives and a capital exceeding $12,000,000 USD. Well known...

El presente documento realiza un análisis del negocio del Gas Natural en Bolivia y de sus posibles impactos en las recaudaciones, exportaciones y el Producto Interno Bruto. Las principales conclusiones sugieren que, el sector de hidrocarburos se perfila como uno de los pilares para el...

This essay envisions a prism-like discovery of an asset's price spectrum. The discovery procedure matches, at a point in time, investors' shared value assessments as the constituent prices of the asset price spectrum. In this perspective, traditional price discovery allowing only a single asset...

Contrary to the assertions of de Meza and Webb (2006), we find that (i) there is no conflict between borrowing costs and the condition for rationing put forth in Stiglitz and Weiss (1981), and (ii) entrepreneurs finance production solely by debt. It is shown also that under the timing...

The article opens up a series of studies devoted to the financial system and its contemporary evolution. The aim of the articles is to review and systematize the most important issues connected with the financial system. The structure of the articles derives directly from their reviewing...

This article discusses the microstructure of the U.S. Treasury securities market. Treasury securities are nominally riskless debt instruments issued by the U.S. government. Microstructural analysis is a field of economics/finance that examines the roles played by heterogenous agents,...