Trading Activity Research Articles

Financial Literacy of Women: Insights from Fair-Trade Craft Producers, Kathmandu, Nepal

The study emphasized on the critical role of fair-trading practices in promoting women’s economic empowerment in the handicraft sector of Nepal. The aim of this study is to assess the financial literacy of women working in fair trade activities led by Association for Craft Producers. This study anchored on human capital theory. Methodologically the paper looks at the phenomenon objectively and employed scientific methods to generate knowledge. For this, natural data were gathered through administered self-questionnaires from 101 employed women involved in fair-trade economic ventures under association of craft products in Kathmandu valley including home-based and in-house producers. Descriptive statistical tools, such as frequency distribution, tabulation, percentage and diagrams were used for data analysis. The finding indicate that that financial literacy positively affects economic entrepreneurship, employment opportunities, household decision making process, and overall women economic empowerment. This paper has approved the notion of both empowerment and capability approach to development. For women economic empowerment, the supporting key factors such as, entrepreneurship, employment, training, educating, family support, and organizational backing can escalate the financial literacy and economic empowerment. Acquiring the essential skill, training, knowledge, and support in terms of financial issues enable women to meet their socio-economic needs and influx the individual capacity. The finding could be very useful to planners, policy makers, and women centric development practitioners to escalate the financial knowledge and support the women economic empowerment. This study suggests subsequent researchers to conduct similar issues considering longitudinal studies and comparative study between rural and urban areas.

The Relationship Between Financial Development and Logistics Performance Index: A Panel ARDL Approach in Emerging Markets

The term "emerging markets" refers to countries that are undergoing economic and financial development. As financial development progresses in these nations, the capital available for international trade and the expansion of logistics infrastructure grows as well. This increased capital enables the financing of international trade activities and facilitates the execution of necessary logistics operations efficiently and effectively. Additionally, with enhanced financial development, it becomes easier to secure the capital required to improve logistics infrastructure and make it more functional. In this study, analyses are conducted using the Panel autoregressive distributed lag method in emerging market countries to evaluate the direct and indirect effects of financial development on logistics performance. The results reveal that increased access to financial institutions and markets positively affects logistics performance in both the short and long term. Among financial variables, the depth of financial institutions exhibits the strongest long-term influence, suggesting that a stable financial system is crucial for logistics efficiency. These insights provide valuable guidance for decision-makers aiming to strengthen logistics infrastructure and trade capabilities. By recognizing the role of financial development in supporting logistics performance, policymakers can craft strategies that support sustainable economic growth through improved logistics processes.

The Impact of Green Finance Policies on Carbon Emission Trading

In the context of increasingly severe global climate change, the international community's demand for reducing greenhouse gas emissions is urgent. This paper explores the critical role of green finance policies in guiding capital flows to green and low-carbon areas. In order to achieve carbon reduction goals under the global climate change context. The main content of this paper includes how green finance, through green credit and green bonds, promotes the activity and efficiency of carbon emission trading, thus significantly affecting carbon emission intensity. Additionally, it details the policy background, development process, and challenges faced by the carbon emission trading system, including issues such as limited industry coverage and insufficient market liquidity. Finally, it proposes policy recommendations and future prospects, such as improving laws and regulations, promoting technological innovation, and expanding market coverage, and strengthening international cooperation to further optimize the carbon emission trading market and help achieve sustainable development goals.

The economic rise of China – an analysis of China’s growth drivers

The economic rise of China has changed the global economy. The authors explore China’s transformation from a low-cost manufacturing hub to an increasingly innovation- and service driven economy. Major growth drivers for the period 2010–2025 are analysed, including the paradigms of “Made in China” and the “Dual Circulation Strategy”. The export intensity of China’s economy is declining overall, with a tendency towards greater regional diversification and a gradual decoupling from North America and the European Union. At the same time, trade and investment activities are increasingly geared to the Belt and Road Initiative. Furthermore, labour and energy cost advantages for manufacturing operations in China are likely to diminish in the coming years, calling into question China’s attractiveness as a global manufacturing hub. In this regard, the further development of regional and industrial clusters is pivotal for China to enhance its global competitiveness and remain an attractive destination for foreign direct investment (FDI) in the medium term. On the other hand, high productivity in science and technology and rich deposits of critical minerals put China in a favourable position in advanced industries. Important challenges include the still wide development gap between rural and urban areas, the structural mismatch in the labour market, with persistently high youth unemployment, and the race to achieve carbon neutrality by 2060.

The Entrepreneurial Mindset: Views and Perspectives of Cacao Entrepreneurs on Innovation and Entrepreneurship in Bicol Region, Philippines

Innovation and entrepreneurship are fundamental drivers of economic growth. Oftentimes, sustainable development is equated with these two indices where untapped potential and emerging industries are available that present countless opportunities for the people. A research study was conducted composed of cacao farmers, farmers/processors and farmers/processors/traders residing in various towns in the Bicol region, Philippines aimed at determining their perception, innovation and entrepreneurial initiatives and strategies. A survey-questionnaire was designed and administered to 70 cacao farmers and entrepreneurs and qualitative data analysis techniques, such as thematic coding and content analysis was employed to analyze result of the interview and focus group discussions. Findings of the study showed that farming is the primary focus for the majority of respondents (67%), with only a minority involved in processing or trading activities. The most highly recommended innovative cacao-based products with potential market success are primarily in the food and confectionery categories, with substantial interest in beverages and skincare products. Ninety-one percent (91%) are willing to pay a premium for innovative cacao products because they value supporting local entrepreneurship and a good sign of a strong community support for local businesses with high level of willingness to invest in locally developed products. Job creation and empowerment of small-scale farmers are considered as top benefits of a community-based value-added cacao products enterprise. Limited financial investment/capital is the most significant problem faced, followed closely by unstable demand and low and unregulated farm gate price of agricultural commodities.

Pengaruh Ekspor Batu Bara terhadap Kurs Rupiah

The major of exchange grade was an crucial macroeconomic indicator for a country, and its fluctuations can greatly influence the course of trade activities in a country and the price of a commodity. The reseach purposelly to quantitatively estimating toward impact of coal exports, inflation, also coal production towards rupiah exchange grades from 1996-2022 both the little run also the long proceed uses the Partial Adjustment Model (PAM) regression. The yields shown that coal exports have no impact towards exchange grades both are short or long proceed, also inflation also coal production has positive impact towards exchange grades. The government was expecting hight coal exports and reduce its imports in order to turn the trade balance deficit into a surplus and it is hoped that rupiah will appreciate. The government also needs to make regulations regarding coal import limits so that they dont excide tha count of its exports. Inflation rate should also be maintained through monetary policies especially interest rates to make sure that Indonesians’ consumption and purchasing power are stable.

Trade and Economic Activity: Nonlinear Modeling and Forecasting

ABSTRACTMotivated by the increasing role of trade in global economic developments, this paper derives novel econometric methods to forecast global trade by exploiting the relationship between economic activity and trade itself. We empirically document that the relation between trade and economic activity changes along the business cycle—the stronger the cycle, the larger their elasticity. Consistently with theoretical predictions, such cyclicality depends on two key factors: (i) the high pro‐cyclicalilty of the demand for intensively traded items and (ii) the presence of low‐frequency (“trend”) components in trade and GDP series. We show that the latter is key to generate a cyclical income elasticity of trade and that a linear relationship holds once those components are filtered out. These empirical findings are exploited in two original empirical approaches to map GDP forecasts, for which rather accurate and timely projections are available, into world trade forecast. In an out‐of‐sample real‐time forecasting exercise, with both the proposed methods, we obtain predictions that are vividly more accurate than naive linear models and nearly halve the forecast error of the IMF‐WEO.

Penerapan Prinsip-Prinsip Ekonomi Syariah Pada Pasar Tradisional Di Kota Bengkulu

Every step in the production chain must adhere to sharia ideals and principles in order for producers to fulfill their duty to optimizing benefits. Avoiding forbidden items in transactions and applying the suggested Islamic standards are the primary Islamic values in manufacturing. The purpose of this study is to determine and examine how sharia principles such as fairness, openness, and the proscription of usury are applied in typical market transactions. This study employed a qualitative methodology, gathering data through observations and interviews at a number of conventional marketplaces. The study's findings indicate that traditional and contemporary markets are essentially the same, with the only exception being the manner in which transactions take place. Traditional markets serve as both a tangible representation of the variety of the Indonesian people and a tiny version of their cosmopolitan society. Through just and honest dealings, markets in Islam seek to bring about wealth for both the earth and the hereafter (Al-Falah). As a result, Islam differs from other economic systems in a number of ways. Many traders from different areas have incorporated sharia economic ideas into their conventional market trading activity in Bengkulu. In this instance, the government's participation is crucial in educating traders about sharia economic principles, particularly in traditional marketplaces, in order to build a thriving economy founded on people's honesty and justice.

A rapid quarantine approach for the pathogenic and invasive Phytophthora species associated with imported fruits in China.

Phytophthora spp. represent a pivotal genus of plant pathogens with a global distribution, exerting significant deleterious effects on food safety and forestry ecosystems. Numerous pathogenic and invasive Phytophthora species, introduced through imported fruits, have been frequently detected at Chinese ports. With the rise in global trade activities, the plant quarantine of imported fruits is becoming increasingly important but challenging. Fast, simple, and labor-saving techniques are necessary and anticipated. A polymerase chain reaction restriction fragment length polymorphism capillary electrophoresis (PCR-RFLP-CE) technology-based quarantine approach was developed for 16 Phytophthora species associated with the imported fruits in China. The Ypt1 gene, exhibiting abundant interspecific variations, was selected as the marker gene for PCR. The restriction endonuclease AluI was proven to be capable and compatible in simultaneously separating different Phytophthora species during CE. By combining with a fast and efficient DNA extraction kit, the developed PCR-RFLP-CE technique was successfully applied to identify Phytophthora species in artificially infested fruits. We provide a quick, practical, and high-throughput detection approach for hazardous and invasive Phytophthora species associated with imported fruits in China. This strategy can give good convenience and technological support for carrying out massive quarantine activities at Chinese ports. © 2024 Society of Chemical Industry.

Anomaly Pattern Detection in High-Frequency Trading Using Graph Neural Networks

This paper presents a new method for detecting abnormal patterns in high-frequency trading (HFT) using graph neural networks (GNNs). The increasing sophistication of trading algorithms and the large volume of data have often created unprecedented challenges for traditional market analysis. Our framework addresses these challenges by introducing a GNN-based architecture that takes advantage of the physical and structural properties of business data. The proposed method transforms HFT data into graphical models where the nodes represent market conditions and the edges capture their physical and price relationships. A specialized GNN architecture, incorporating attention mechanisms and temporal convolution modules, is developed to learn complex trading patterns and identify potential anomalies. The model is evaluated on high-frequency trading data from five major stocks listed on NASDAQ, spanning six months of trading activity with over 10 million events. Experimental results demonstrate superior performance compared to existing approaches, achieving a 15% improvement in detection accuracy and maintaining robust performance across different market conditions. The framework exhibits particular strength in identifying complex manipulation patterns while maintaining low false positive rates. Our approach processes large volumes of trading data in real time with significantly reduced computational requirements compared to traditional methods. This research contributes to the development of more effective market surveillance systems and provides valuable insights for regulatory authorities in maintaining market integrity.

The Magnet Effect of Price Limits: An Agent-Based Approach

ABSTRACT In this paper, we study the magnet effect within the context of circuit breaker events that transpired in global stock markets during March 2020. Our analysis encompasses nine such events across six countries. Employing a time-distanced quadratic function to model trading activities leading up to limit hits, we observe a substantial acceleration in return movement and the convergence of traders’ behavior preceding limit hits. Furthermore, most circuit breaker events manifest a distinct reduction in trading volume and amplified market stability during this crucial phase. To gain deeper insights into the magnet effect, we employ an agent-based model of the stock market that incorporates price limits. Our model replicates the stylized facts associated with limit hit events and the magnet effect. Importantly, our simulation results closely align with empirical observations. We also emphasize the importance of market environment changes and shifts in traders’ behavior in influencing limit hit events and the magnet effect.

Does official media sentiment matter for the stock market? Evidence from China

We develop a novel official media sentiment index (NegGovOp) for China’ stock market using textual analysis combined with BERT. We find that NegGovOp predicts market return reversals. The return-reversal pattern is concentrated among difficult-to-arbitrage stocks, during recession period and the trading days which are not directly following weekends or holidays. We further find that official media sentiment primarily affects the trading activities of retail investors and significantly predicts market trading volume, market volatility and investor sentiment. Our findings are in line with the behavioral model that official media sentiment contributes to shaping irrational investor sentiment and resulting in temporary mispricing.

Cross-sectional interactions in cryptocurrency returns

We investigate interaction effects in cryptocurrency markets by constructing and evaluating double-sorted portfolios based on 40 different characteristics. Using a dataset of over 500 major coins and tokens from 2017 to 2023, we identify numerous significant interactions. The most pronounced effects arise from the interplay of liquidity, risk, and past return measures. An out-of-sample long-short strategy that selects the top and bottom interactions achieves a Sharpe ratio exceeding 1. However, network graph analysis and additional tests reveal that low liquidity, which raises transaction costs, can dampen trading activity and contribute to the persistence of these anomalies.

Technological advancement and inclusive finance: Dual influences on environmental quality in OECD countries

Employing the Method of Moments Quantile Regression alongside fixed effects (FE) for robustness and incorporating an interaction term between technological advancement (TA) and financial inclusion (FIN), the results reveal that while TA enhances environmental quality, the FIN∗TA weakens this positive effect across quantiles. GDP and TO consistently show negative impacts on LCF. EP, however, emerges as a significant positive factor, particularly in more advanced economies. Incorporating the log(FIN2) demonstrates that financial inclusion's environmental benefits intensify in higher quantiles. Findings emphasize the importance of sustainable technological innovation, strategically integrating financial inclusion, regulating trade and economic activities, and enhancing energy productivity to achieve environmental sustainability.

Temple Diplomacy, Sacred Rites, and Overseas Chinese During the Reign of Song Emperor Zhenzong (997–1022)

Throughout most of Chinese history, leaders viewed the migration and movement of their subjects beyond state borders as a symptom of poor governance. As a result, record keepers generally avoided addressing the topic of Chinese people traveling or residing overseas. There is, however, an exceptional moment in Chinese history that provides valuable insight into the early establishment of Chinese communities abroad. Facing political pressure after signing a humiliating peace treaty with foreign adversaries in 1005, the Song dynasty emperor Zhenzong (968–1022, r. 997–1022) utilized unconventional forms of religious diplomacy and revived ancient rites to shore up support for his rule. The Feng and Shan rites were the highest level of sacrifice that an emperor could undertake, and they were only carried out by several emperors prior to Zhenzong’s reign. One of the requirements of this complex ritual was for the sovereign to attract foreign peoples from afar by his virtuous character, and so Zhenzong’s reign witnessed major initiatives to attract foreign envoys from states such as Srivijaya (Sumatra), Dai Viet (northern Vietnam), Japan, and India. Zhenzong’s reign also incorporated forms of diplomacy that originated in South and Southeast Asia, namely, the construction of temples in foreign states to enhance his spiritual authority. This essay will demonstrate that Emperor Zhenzong relied on Chinese merchants residing overseas to work with foreign leaders to coordinate the participation of foreign emissaries in such forms of temple diplomacy and in the Feng and Shan sacrifices. The significance of these events brought the activities of Chinese people trading and residing overseas to the attention of the Song court and its chroniclers, and as a result, we are left with the earliest indications of Chinese communities abroad in official Chinese histories.

Effect of internet penetration on ICT export, economy, and employment in Bangladesh: Evidence from vector error correction and local projection

The advent of Industry 4.0 is imminent, with the internet emerging as a pivotal catalyst for this impending revolution as general-purpose technology (GPT). This study examines the transformative impact of internet penetration on economic development and employment dynamics in Bangladesh. Leveraging time series data from 1996 to 2022, and employing Vector Error Correction Model (VECM) and Linear Projections (LP) methodologies, the research reveals significant insights into the relationship between internet penetration, ICT exports, GDP growth, and employment trends. Findings indicate that a 10% increase in internet penetration led to a notable 4.7% rise in ICT exports and a marginal 0.8% increase in GDP, albeit with a concerning 1.1% decline in formal sector employment. While highlighting the positive influence of internet connectivity on trade and economic activities, the study underscores the challenges of job displacement and the need for inclusive and equitable growth strategies in the face of technological big push.

The New Paradigm of Russia’s International Financial Relations

The objective of this study is to explore the fundamental features of the emerging international financial framework in Russia, to pinpoint potential risks and central issues in its development. The distinctive characteristics of Russian companies’ international trade activities are explored through a comparative and economic-statistical analysis. The identification of risks was done by creating checklists using logical and analytical methods to organize information about the research topic. The risk analysis was based on the Ishikawa method (“fish bone”). The framework of Russia’s international financial interactions from 1991 to 2014 was centred on the goal of swiftly integrating the country into the global monetary and financial framework, fully embracing the standards set by the global power, while also acknowledging the increasing reliance on the collective West, which could potentially compromise national interests. The New Paradigm envisions a balanced integration of diverse subsystems and individual components — nations and groups of nations — within a cohesive geographical context. This framework envisions the enhancement of mutually beneficial international collaboration with allied nations and the development of novel settlement and payment systems, which are based on the utilization of national currencies and/or cutting-edge digital instruments.

The dilemma and resolution of data circulation in China: Is data as consideration the solution?

The circulation of data presents a significant challenge to the development of China's digital economy. On data exchanges, trading activity has declined. Off-exchange, stringent barriers between data-sharing consortia have resulted in data silos, producing crises of trust and legitimacy. Treating personal data as consideration, by incentivising individuals' motivation to share data through both financial gain and the protection of their personal rights, can establish a robust and comprehensive legal basis for extensive commercial data processing. Accordingly, this connects primary and secondary data element markets, facilitates data circulation, and strengthens the real economy. In the legal framework of personal data as consideration, the agreement between users and enterprises constitutes a bilateral contract, wherein individuals are obliged to "provide personal data and/ or authorise processing" as counter-performance. Through this exchange, enterprises, predicated on user authorisation, can secure one or more rights to hold, use or operate the data, thereby achieving a separation of data property rights. The data property rights enterprises acquire are governed by the principle of registration confrontation. The data subject's inheritors, prior or subsequent parties in transactions, and infringers are all third parties that could be confronted absolutely, while a subsequent licensee's ability to confront a prior licensee hinges on whether the pre-existing data property rights have been registered. Even when data property rights derive from a non-exclusive licence, the enterprise can still confront the bankruptcy administrator and proceed with data processing.

Portugiesische und italienische Filiationen in der frühneuhochdeutschen Lexik des Indien-Handels

Abstract The “Bericht über Portugiesisch-Afrika und Ostindien”, which was probably written between 1512 and 1519, is one of the few German-language documents from the early period of European and especially Portuguese trading activities in India and Southeast Asia. With regard to the lexicon, the text is far richer than all other German-language reports from the early years of the Portuguese expansion. As a consequence of the complex historical interrelations between the various nations involved in the oriental trade, the “Orient-Bericht” contains numerous borrowings from Italian and Portuguese as well as – through Indo-Portuguese mediation – from Arabic, various Indian languages and Malay. As many of these words have not yet been examined in the light of modern research, the text is highly interesting for both German and Romance historical lexicology and lexicography.

Impact of the Belt and Road Initiative on Global Trade and Economic Growth Amid China’s Slowing Growth

Since the inception of the Belt and Road Initiative (BRI), China’s trade relations with participating nations have experienced substantial growth. This study utilises data from the World Trade Organization (WTO) covering the years 2003 to 2021 to explore the dynamics of China’s foreign trade and assess the impact of the BRI on trade interactions with China. One of the central objectives of our research is to determine whether participation in the BRI has significantly contributed to trade growth with China, thereby strengthening economic ties and fostering bilateral cooperation. Another important objective is to analyse the changes in the BRI’s role in driving global economic growth amid China’s slowing growth. Through empirical analysis using data from over 180 countries, we evaluate the heterogeneous effects of the BRI across different continents. Our findings indicate that the BRI has had the most pronounced trade-stimulating impact on the continents of America, Europe and Africa, while trade volumes with Asian countries have seen only marginal increases. The relatively smaller trade growth in Asian countries can be attributed to the already high volume of trade activities due to their geographical proximity to China, which diminishes the marginal impact of the BRI. Additionally, the significant infrastructure investments under the BRI have been predominantly directed towards Africa and Europe, further explaining the smaller trade-enhancing effects observed in Asia compared to other continents. Furthermore, we identified the spillover effects of the BRI on non-participating countries. Moreover, significant differences in the BRI’s impact on global economic growth were observed before and after China’s economic slowdown. This article offers actionable policy recommendations to inform future decisions based on these findings.