Abstract I show that a disruption to the financial sector can reshape patterns of global trade for decades. study first modern banking crisis originating in London 1866 and collect archival loan records link multinational banks headquartered there their lending abroad. Countries exposed bank failures immediately exported significantly less did not recover lost growth relative unexposed places. ...

The sharing of different stages of manufacturing processes between countries is of major and growing importance. However, due to previous deficiencies in the Standard International Trade Classification (SITC) Revision 1 system it was not possible to differentiate between two key elements of this process that involving international trade in components and parts as opposed to the exchange of ful...

Abstract In this paper, we analyze the relationship between economic complexity and environmental performance using annual data on 88 developed developing countries for period of 2002–2012. We use Economic Complexity Index, which links a country’s productive structure with amount knowledge know-how embodied in goods it produces, Environmental Performance Index as measure performance. show that ...

Counterfeit pharmaceutical products are a real threat to the health of patients, and to the reputation and commercial success of legitimate producers of genuine products. NIR chemical imaging provides a rapid method for detecting and comparing suspected counterfeit products with no sample preparation. With appropriate choice of operating conditions, multiple samples can be compared simultaneous...

We consider a (not necessarily complete) continuous-time security market with semimartingale prices and general information filtration. In such a setting, we show that the first-order conditions for optimality of an agent maximizing a ‘smooth’ (but not necessarily additive) utility can be formulated as the martingale property of prices, after normalization by a ‘state-price’ process. The latter...

This article looks at the negative images on cash trades of in-game assets in Taiwan, through interview of participants in this activity, we believe the blurring of boundaries between work and play, adulthood and adolescence, real and virtual is what distinguishes this market from previous markets of virtual goods, resulting in its social stigma. We then discuss how the participants confront th...

Abstract The focus of this research is on analysing the effects institutional quality and trade agreements Indonesia bilateral in four commodity groups era global value chain (GVC). Employing a panel data gravity model Indonesian export commodities to Indonesia’s trading partners from 2000 2018 estimating Feasible Generalized Least Squares (FGLS) Poisson Pseudo Maximum Likelihood Method (PPML),...

Abstract This study focuses on used motorcycles (UMCs) that are exported from Japan, observes identifiable characteristics of each destination country's UMC exports, and categorizes their distribution flows. Based the findings precedent research, results compiled data trade statistics, field surveys, this reveals following characteristics. (1) UMCs continuously to United Arab Emirates (UAE), bu...