Sub-Saharan Africa (SSA) accounts for a third of the countries on the Financial Action Task Force (FATF) grey list. In the Money Laundering and Terrorist Financing (ML/TF) Ranking and Risk Assessment Tool, the region performed poorly in terms of resilience to ML/TF, with more than 60% of...

L’Afrique subsaharienne (ASS) représente un tiers des pays figurant sur la liste grise du Groupe d’action financière (GAFI). Dans l’outil de classement et d’évaluation des risques du blanchiment d’argent et du financement du terrorisme (BC/FT), la région a obtenu de mauvais...

This paper proposes a framework to analyze the functioning of the inter-bank liquidity market and the occurrence of liquidity crises. The model relies on three key assumptions: (i) liquidity provisioning is not verifiable -it cannot be contracted upon-, (ii) banks face moral hazard when...

The causes of 2007’s financial perturbations and mainly of the subprime crisis are well known at the beginning of 2008. Nevertheless, the specialists pay little attention to capital markets global crisis and to its consequences. In this study, we demonstrate that we are already in the middle...

A theory of incomplete preferences under uncertainty is proposed, according to which a decision maker's preferences are indeterminate if and only if her confidence in the relevant beliefs does not match up to the stakes involved in the decision. We use the model of confidence in beliefs...

French Abstract: L'indice boursier est parmi les principaux indicateurs auxquels les investisseurs se réfèrent pour analyser l'état de santé d'une place donnée. Ainsi, la création d'un indice boursier islamique conforme à la Shari'a peut constituer une référence utile pour les...

French Abstract: L’impact investing s’est progressivement développé en réponse à une prise de conscience collective engendrée par les mutations économiques et sociales qui ont marqué le XXème siècle. Le marché a encore du mal à se structurer, en partie en raison du flou qui règne...

Developing a model with a switching mechanism, we show how complex dynamics can be generated even though heterogeneity arises among agents with the same trading rules (fundamentalists). We assume that there are two experts which are imitated by other operators. We show that (i) market...

The present study proposes to examine the link between the organisational policies of the investment management companies and the performance of the managed funds. This study is based on about fifteen exploratory talks organized with persons in charge of investment management companies, and on...