Yves Jégourel

Yves Jégourel
Conservatoire National des Arts et Métiers | CNAM

About

32
Publications
3,062
Reads
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92
Citations
Citations since 2017
11 Research Items
55 Citations
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2017201820192020202120222023051015
2017201820192020202120222023051015

Publications

Publications (32)
Article
The Effects of War in Ukraine on Global Commodity Markets The war in Ukraine constitutes a major supply shock on the world commodities markets, which have already been under severe pressure since the beginning of 2021. The price dynamics induced are mainly explained by the combined share of the belligerents in world exports, but their transmission...
Chapter
The theme of the financialization of commodity markets generated a large scientific literature during the 2000s. Financialization is assimilated to financial speculation or to a particular form of it. Regardless of the product in question, a raw materials chain involves producers, processors, and users, as well as physical traders whose economic fu...
Chapter
L’augmentation constante de la consommation de ressources minérales ainsi que la prise de conscience croissante des nuisances occasionnées par leur exploitation provoquent une profonde inquiétude au sein de la communauté scientifique. Cette inquiétude est d’autant plus justifiée que la transition énergétique va aggraver la pression exercée sur ces...
Article
This article analyzes the impact of firms' workforce composition on cultural distance and export performance. On the one hand, empirical literature has shown that there are dark trade costs that hinder trade performance, among which is cultural distance; on the other hand, the literature has shown that firms' export performance is positively correl...
Article
Full-text available
Les matières premières minérales non énergétiques sont des intrants indispensables au fonctionnement des sociétés humaines. Cet article présente la structuration des chaînes de la valeur complexes et globalisées qui sont à l’origine de la production de la plupart des biens et services que les sociétés contemporaines utilisent au quotidien et illust...
Article
This article reviews how financialization has affected the iron ore market since the turn of the century. We account for the existence of a Chinese iron ore futures market, the emergence of which can be explained by the progressive inability of long-term commercial contracts to meet the needs of players in the value chain, in a context marked by ab...
Article
Empirical models of international commodity trade ows tend to show that exchange rate volatility has either no or negative impact on export volumes. This analysis has a number of limitations. In particular, it underestimates the role of physical traders and, consequently, the importance of future markets. In this context, this article aims to provi...
Article
Has the integration of European, North American and Asian natural gas markets been fostered over the last few years by growing LNG export capacities and an increasing market share of spot transactions? This is the key question that this article sets out to answer. For this purpose, we develop bivariate error correction models with structural breaks...
Article
Full-text available
Obviously, the fall in the price of raw materials observed since 2014 is not good news for producer countries, especially those in Africa. While some people are already invoking the ‘natural resource curse’ to explain the economic and political fragility that can result from excessive variability in the price of commodities, it should be borne in m...
Article
La très forte chute du prix des matières premières observée depuis 2014 n’est de toute évidence pas une bonne nouvelle pour les pays producteurs, notamment africains. Alors que certains évoquent déjà la malédiction des matières premières pour caractériser la fragilité économique et politique qui peut découler de la variabilité excessive du cours de...
Article
Given the recent attempts at reforming financial excesses, the issue of commodities trading is without a doubt one of the most essential and most sensitive. As opposed to arguments aiming to prove the subordination of commodity financial markets to speculative interests, we show that these markets can be helpful not only to deal with the price risk...
Article
Public stakeholders and the private equity industry. A critical appraisal The role played by government and regional public agencies hasn't been much discussed in existing academic literature. Our analysis brings to the fore that indirect public supports have a positive impact on private equity. Conversely, the role of support direct remains ambigu...
Article
Designated by the generic term of "sovereign wealth funds" (SWF), public investment vehicles offer a wide disparity, not only in their strategies and financial objectives but also in their institutional functioning. As a consequence, they can’t be considered as a homogeneous class of investors. A relevant geo-economic analysis of their actions ough...
Article
Full-text available
French but also European economies are driven by micro, small and medium enterprises. However, evidence shows that micro-enterprises, representing 99 per cent of all newly created businesses, suffer from a lack of external resources, especially those created by socially excluded persons. Traditional commercial banks are indeed often reluctant to sa...
Article
Full-text available
Reality of the microfinance at the regional level : The example of Aquitaine Based on a unique database including almost 4000 credit files from 33 microfinance institutions (MFIs) located in Aquitaine, this paper intents to fulfill three objectives : identify MFIs operating in the region, evaluate to what extent these MFIs satisfy social needs and...
Article
Full-text available
Social responsible investment is surging in all industrial countries, despite the conventional wisdom that the inclusion of extra-financial criteria in the stock selection process should arm the financial performance of these funds. As a consequence, many papers have attempted to measure the financial performance of SRI funds and compared it to the...
Article
This article investigates the factors that motivated sovereign wealth funds (SWFs) in their massive investment operations in European or US company equity, especially banking institutions. Considered to be investors with considerable financial clout, albeit passive and long-term, SWFs have long been seen as a restoring force in financial markets ab...
Article
Full-text available
Solidarity finance covers the so-called 90/10 funds, where 10% of resources are invested in government-recognized solidarity companies, and revenue sharing funds, where holders accept that all or part of their remuneration is given to an organization with a social or humanitarian purpose. Still a fringe element compared with socially responsible in...
Article
Full-text available
This article investigates the factors that motivated sovereign wealth funds (SWFs) in their massive investment operations in European or US company equity, especially banking institutions. Considered to be investors with considerable financial clout, albeit passive and long-term, SWFs have long been seen as a restoring force in financial markets ab...
Article
Full-text available
Social responsible investment is surging in all industrial countries, de-spite the conventional wisdom that the inclusion of extra-…nancial criteria in the stock selection process should arm the …nancial performance of these funds. As a consequence, many papers attempted to measure the …nancial performance of SRI funds and compared it to the perfor...
Article
Full-text available
Geopolitics of Finance For several months, the “sovereign wealth funds”, defined as state-owned funds, have troubled politicians of Western states. Unlike traditional investments, these funds are suspected of serving financial but also strategic interests, likely to threaten the economic security of the countries in which they invest. But the facts...
Article
FINANCIAL GLOBALIZATION AND THE AUTONOMY OF MONETARY POLICY: THE ROLE OF CAPITAL CONTROLS This article analyzes the effects of various capital controls on the autonomy of national monetary policy when a country tries to obtain simultaneously real exchange rate stability and price stability. First, we compare, on the basis of their effect on interna...
Article
This article analyzes the effects of various capital controls on the autonomy of national monetary policy when a country tries to obtain simultaneously real exchange rate stability and price stability. First, we compare, on the basis of their effect on international returns equalization, the Chilean non-remunerated deposit requirement and the Tobin...
Article
Full-text available
In response to demand from savers who are fully aware of the issues of sustainable development, so-called "green" mutual funds are a recent development within the finance ethic. Not the same as socially responsible funds (SRF), which set out to dovetail financial performance with respect for familiar ESG criteria (environment, social, governance) v...

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