In recent years, a growing literature has claimed that the market microstructure is sufficient to generate the so-called stylized facts without any reference to the behaviour of market players. Indeed, qualitative stylized-facts can be generated with zero-intelligence traders (ZITs) but we...

In the supply chain of investment services, trading activity is at the heart of several breakthroughs resulting from the rise of new forms of competition and new regulations. The Market in Financial Instruments Directive (MiFID) constitutes a major revolution in the organization of the trading...

Cet article propose d'analyser les conséquences de la mise en place de Solvency 2 sur le comportement de placement des compagnies d'assurance et, ce faisant, sur le financement de l'économie. Notre analyse revient sur l'opposition potentielle entre l'objectif de stabilité et celui...

This paper analyzes the capacity of mobile-payment solutions to improve financial inclusion in developing countries. It elaborates from rural East African countries experiences where mobile payment services have developed rapidly. With a simple dynamic model which rationalizes traders' adoption...

Space has only recently become a terrain of strenuous economic research. With the New Economic Geography (NEG) integrating into mainstream, many spatial subjects, including territorial, or regional, competitiveness are being increasingly inquired. In line with Krugman (2003), we argue that it is...

Le plan carrière de 2008 a permis une revalorisation des salaires des Maîtres de Conférences nouvellement recrutés ainsi qu'une hausse significative des taux de promotion, ce qui s'est traduit par un nouvel écrasement des hiérarchies salariales pour les enseignants-chercheurs. La...

This paper draws on the results of World Bank Enterprise surveys to investigate the relation between financials constraints and innovation performance for a sample of firms in 9 African nations: Ethiopia, Zimbabwe, Rwanda, the Central African Republic, Uganda, Zambia, Tanzania, Ghana and the...