Changes in the Commodities Market - Part 2: What is the role for international trading companies?

The continuous and reinforced process of accumulating physical capital, in which Morocco has embarked since the early 2000s, has helped to preserve the stability of the fundamental equilibrium and cushion the economy from various external and exogenous shocks. However, these accumulation efforts have not led to a significant increase in productivity gains or to an accelerated transformation of the productive base. This Policy Brief aims to describe the underpinnings of the capital a ...

This paper retraces Brazil and Morocco’s economic strategies towards Sub-Saharan Africa since the beginning of the century, highlighting the characteristics and evaluating the performance of the instruments used to promote the flows of trade, investment and cooperation between each of the two countries and the Sub-Saharan region. The paper also includes an assessment of these policies, as well as conclusions and recommendations. ...

The world economy – and emerging market and developing economies in particular – display a gap between infrastructure needs and its finance (Canuto, 2014). On the one hand, infrastructure investment has fallen far short of what would be necessary to support potential growth. On the other hand, abundant financial resources in world markets have been facing very low and decreasing interest rates, whereas opportunities of higher return from potential infrastructure assets are missed. H ...

Brazil’s labor and total-factor productivity (TFP) have featured anemic increases in the last decades (Canuto, 2016). As we illustrate here, contrary to common view, sector structures of the Brazilian GDP and employment cannot be singled out as major determinants of productivity performance. Horizontal, cross-sector factors hampering productivity increases seem to carry more weight. Brazil’s productivity performance has been dismal Since the end of the 1970s, the Brazilian labor p ...

The United States and Europe share a common interest in addressing the growing terrorist threats from North Africa. The emergence of ISIL as a force in the region — notably in Libya, but also in Egypt and to a lesser degree in Tunisia, Algeria, and Mali — is cause for genuine concern. The ISIL challenge is compounded by the persistence of older terrorist organizations, both local ones such as the region’s various Ansar al Sharias as well as al Qaeda in the Islamic Maghreb (AQIM), al ...

Le débat sur la défense est plus que jamais d’actualité dans un contexte mondial évolutif animé par la reconfiguration continue des équilibres géostratégiques et par le poids des conséquences de la crise économique et financière sur le budget des Etats : les politiques de défense seront-elles adaptées à leurs taches de demain ? Les stratèges des Etatsmajors auront-ils les moyens suffisants pour négocier efficacement le processus d’adaptation ? Outre la modernisation des systèmes d’a ...

The debate on defense is more relevant than ever in an evolving global context that is driven by the constant reconfiguration of geostrategic equilibriums and by the importance of the impacts of the economic and financial crisis on States’ budgets leading to pertinent questions such as: will defense policies be adapted to their future tasks? Will the military leaders’ strategists have sufficient means to effectively negotiate the adaptation process? In addition to the modernization ...