How do domestic policies affect the integration of Ethiopian fertiliser markets with world markets?

Frequent shifts in policy on fertiliser markets have occurred in Ethiopia with the aim of facilitating both physical and economic access of farmers to fertiliser. The last shift was the introduction of a monopoly on each stage of the supply chain in 2008. Furthermore, government control of prices and margins as well as stockholding programmes are also present on the markets. This paper evaluates the effect of these policies on the integration of domestic with world markets of fertiliser, using cointegration methods. Time series data of diammonium phosphate (DAP) and urea prices on world, import and retail markets between 1971 and 2012 are used. The findings show high transmission of price signals from world markets to import prices for both DAP and urea. However, between import and retail prices there is no evidence of cointegration for urea, while for DAP full price transmission is concluded. In the retail market, domestic transaction costs associated with storing large volumes of fertiliser act as a buffer between import and retail prices, especially for urea. Therefore, economic benefits could be achieved by reducing the size of stocks and revising the demand estimation process.

Oilseeds, world markets and trade /

Title from caption.

Tobacco, world markets & trade /

Title from cover.

American products/world markets.

Mode of access: Internet.

The US position in world markets.

"ER 79-10305."

World soybean trade : growth and sustainability

Soybeans can be consumed directly as food, and in China hey are the major ingredient in food products such as tofu and soy milk, but direct consumption is small relative to their wider use in animal feed, and it is the requirement for livestock feed that drives international trade. Rapid growth of economies and population, especially in Asia, has led to increased demand for animal protein and cooking oil. This paper analyses the recent growth in supply of soybeans from North and South America to China, and considers the factors that may affect this trade in future; a contrast is made with supply from North and South America to Europe, which has not been increasing. The constraints preventing an increase in supply of soybeans to Europe are reviewed. The paper concludes with brief discussion of the factors which will affect world markets for soybeans and soybean products in future.

International portfolio diversification: evidence from emerging markets

Taking into account previous research we could assume to be beneficial to diversify investments in emerging economies. We investigate in the paper International Portfolio Diversification: evidence from Emerging Markets if it still holds true, given the assumption of larger world markets integration. Our results suggest a wide spread positive time-varying correlations of emerging and developed markets. However, pair-wise cross-country correlations gave evidence that emerging markets have low integration with developed markets. Consequently, we evaluate out-of-sample performance of a portfolio with emerging equity countries, confirming the initial statement that it has a better a risk-adjusted performance over a purely developed markets portfolio.

Latin America and the Caribbean in the World Economy 2002-2003

Includes bibliography

Latin America and the Caribbean in the World Economy 2004: 2005 trends

Includes bibliography

Cultural convergences in world wine consumption

This paper addresses the dynamics of world wine consumption over the past 50 years in 26 countries, verifying whether or not there is a macro-tendency towards a common consumption style, despite differences in taxation, economic policies and distribution systems among countries. From an empirical point of view, the σ and β convergence hypotheses were formally tested. Model results confirm the existence of both types of convergences. Per capita consumption of wine first experienced a reduction in differences between countries and then converged toward a central value. "Traditional" countries, with historically high levels of consumption, showed a decrease in wine consumption, while emerging countries with historically lower consumption levels showed an increase. These findings not only provide further support to the theory of international convergence of wine consumption on a volume basis, as already observed by other researchers in the European market, but they also offer support for the theory in major world markets. Furthermore, convergence appears to be happening not only at a quantitative level but at qualitative level as well, and this phenomenon may very well reflect the changing tastes of worldwide consumers towards a generalized structure of wine consumption.

A Data Picture of Australia's Arts and Entertainment Sector 2010

Australia’s Arts and Entertainment Sector underpins cultural and social innovation, improves the quality of community life, is essential to maintaining our cities as world class attractors of talent and investment, and helps create ‘Brand Australia’ in the global marketplace of ideas (QUT Creative Industries Faculty 2010). The sector makes a significant contribution to the Australian economy. So what is the size and nature of this contribution? The Creative Industries Faculty at Queensland University of Technology recently conducted an exercise to source and present statistics in order to produce a data picture of Australia’s Arts and Entertainment Sector. The exercise involved gathering the latest statistics on broadcasting, new media, performing arts, and music composition, distribution and publishing as well as Australia’s performance in world markets.

Going out and the search for originality in China

Can China improve the competitiveness of its culture in world markets? Should it focus less on quantity and more on quality? How should Chinese cultural producers and distributors target audiences overseas? These are important questions facing policy makers today. In this paper I investigate how China might best deploy its soft power capabilities: for instance, should it try to demonstrate that it is a creative, innovative nation, capable of original ideas? Or should it put the emphasis on validating its credentials as an enduring culture and civilisation? In order to investigate these questions I introduce the cultural innovation timeline, a model that explains how China is adding value. There are six stages in the timeline but I will focus in particular on how the timeline facilitates cultural trade. In the second part of the paper I look at some of the challenges facing China, particularly the reception of its cultural products in international markets.