The objective of this paper is to explore the effect of financial crisis on trade flows of steel industries in the major Asian-Pacific steel producing countries. Using a static and dynamic panel data analysis, we test the hypothesis that the global financial crisis has a negative effect on Asia-Pacific bilateral steel trade flows. We also examine the role of regional trade integration in bilate...

We study a dynamic asset allocation problem in which expected stock returns are predictable, focusing on an investor with a medium-term horizon of up to five years. At these horizons, both return continuation (momentum) and mean-reversion are of central importance in the asset allocation problem. Researchers have extensively investigated the impact of mean-reversion on optimal portfolio choice,...

We present an artificial stock market in which simple trading agents enter an asynchronous double auction market to trade in a single stock. Beginning with a population of random trading agents drawing their bid prices from a normal distribution around the current price, we compare the statistical properties of the emergent stock price return distribution to that observed on a real price series...

one of the unique characteristic of agricultural agreement is to order the countries to accept the commitments in three different areas such as domestic support, market access and export subsidy. although the main goal of this type of classification is the reduction of distortion interventions of trade, but indicates that the agricultural agreement has special attention to political tools again...

The aim of this paper is to surround the volatility dynamics on the Tunisian stock market via an approach founded on the detection of persistence phenomenon and longterm memory presence. More specifically, our object is to test whether long-term dependent processes are appropriated for modelling Tunisian stock market volatility. The empirical investigation has been driven on the two Tunisian st...