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All Outputs (29)

Skills Training, Corruption and Organisational Capabilities: An Analysis of Bangladesh’s Garment Industry (2025)
Journal Article
Khan, M., Kabir, S., & van Huellen, S. (online). Skills Training, Corruption and Organisational Capabilities: An Analysis of Bangladesh’s Garment Industry. The Journal of Development Studies, 1-23. https://doi.org/10.1080/00220388.2025.2521491

Skills training programmes are critical for job creation and structural transformation in developing countries. However, they often achieve poor results because of corruption. By looking at evidence of fraud in a group of training providers in Bangla... Read More about Skills Training, Corruption and Organisational Capabilities: An Analysis of Bangladesh’s Garment Industry.

Algorithmic Modelling of Financial Conditions for Macro Predictive Purposes: Pilot Application to USA Data (2022)
Journal Article
Qin, D., van Huellen, S., Wang, Q. C., & Moraitis, T. (2022). Algorithmic Modelling of Financial Conditions for Macro Predictive Purposes: Pilot Application to USA Data. Econometrics, 10(2), Article e22. https://doi.org/10.3390/econometrics10020022

Aggregate financial conditions indices (FCIs) are constructed to fulfil two aims: (i) The FCIs should resemble non-model-based composite indices in that their composition is adequately invariant for concatenation during regular updates; (ii) the conc... Read More about Algorithmic Modelling of Financial Conditions for Macro Predictive Purposes: Pilot Application to USA Data.

Regional Developmentalism in West Africa: The Case for Commodity-based Industrialization through Regional Cooperation in the Cocoa–Chocolate Sector (2021)
Journal Article
Bashi Rudahindwa, J., & van Huellen, S. (2021). Regional Developmentalism in West Africa: The Case for Commodity-based Industrialization through Regional Cooperation in the Cocoa–Chocolate Sector. Journal of African trade, 8(1), 82-95. https://doi.org/10.2991/jat.k.211130.001

Regional integration occupies a prominent place in the economic policies of most sub-Saharan African countries. However, despite different waves of initiatives across the African continent, the majority of African regional schemes have not managed to... Read More about Regional Developmentalism in West Africa: The Case for Commodity-based Industrialization through Regional Cooperation in the Cocoa–Chocolate Sector.

Profitability without investment: how financialization undermines structural transformation in South Africa (2021)
Book Chapter
Andreoni, A., Robb, N., & van Huellen, S. (2021). Profitability without investment: how financialization undermines structural transformation in South Africa. In A. Andreoni, P. Mondliwa, S. Roberts, & F. Tregenna (Eds.), Structural Transformation in South Africa: The Challenges of Inclusive Industrial Development in a Middle-Income Country (213-236). Oxford University Press. https://doi.org/10.1093/oso/9780192894311.003.0010

Sustained investment in productive capabilities and fixed-capital formation is a key driver of inclusive and sustainable structural transformation. Both historically and compared to other middle-income countries, South Africa has performed poorly in... Read More about Profitability without investment: how financialization undermines structural transformation in South Africa.

Potential for Upgrading in Financialised Agri-Food Chains: The Case of Ghanaian Cocoa (2021)
Journal Article
van Huellen, S., & Abubakar, F. M. (2021). Potential for Upgrading in Financialised Agri-Food Chains: The Case of Ghanaian Cocoa. The European Journal of Development Research, 33(2), 227-252. https://doi.org/10.1057/s41287-020-00351-3

We revisit functional upgrading opportunities for developing and emerging market companies in the context of highly financialised food systems. We argue that the assessment of upgrading potential within the global value chain literature lacks conside... Read More about Potential for Upgrading in Financialised Agri-Food Chains: The Case of Ghanaian Cocoa.

Commodity Exporter’s Vulnerabilities in Times of COVID-19: The Case of Ghana (2021)
Journal Article
Asante-Poku, N. A., & van Huellen, S. (2021). Commodity Exporter’s Vulnerabilities in Times of COVID-19: The Case of Ghana. Canadian Journal of Development Studies, 42(1/2), 122-144. https://doi.org/10.1080/02255189.2020.1857225

The measures put into place to mitigate the COVID-19 health crisis around the world have disrupted global supply chains and sent commodity prices tumbling. We argue that, while the nature of the COVID-19 crisis is unprecedented, the unfolding consequ... Read More about Commodity Exporter’s Vulnerabilities in Times of COVID-19: The Case of Ghana.

Regional Developmentalism in West Africa: The Case for Commodity-Based Industrialisation through Regional Cooperation in the Cocoa-Chocolate Sector (2020)
Preprint / Working Paper
Bashi Rudahindwa, J., & van Huellen, S. Regional Developmentalism in West Africa: The Case for Commodity-Based Industrialisation through Regional Cooperation in the Cocoa-Chocolate Sector. London

Regional integration occupies a prominent place in the economic policies of most SubSaharan African countries. However, despite different waves of initiatives across the African continent, the majority of African regional schemes have not managed to... Read More about Regional Developmentalism in West Africa: The Case for Commodity-Based Industrialisation through Regional Cooperation in the Cocoa-Chocolate Sector.

Modelling Opportunity Cost Effects in Money Demand due to Openness (2020)
Journal Article
van Huellen, S., Qin, D., Lu, S., Wang, H., Wang, Q. C., & Moraitis, T. (2022). Modelling Opportunity Cost Effects in Money Demand due to Openness. International Journal of Finance & Economics, 27(1), 697-744. https://doi.org/10.1002/ijfe.2175

We apply a novel model-based approach to constructing composite international financial indices (CIFIs) as measures of opportunity cost effects that arise due to openness in money demand models. These indices are tested on the People’s Republic of Ch... Read More about Modelling Opportunity Cost Effects in Money Demand due to Openness.

Approaches to Price Formation in Financialised Commodity Markets (2019)
Journal Article
van Huellen, S. (2020). Approaches to Price Formation in Financialised Commodity Markets. Journal of Economic Surveys, 34(1), 219-237. https://doi.org/10.1111/joes.12342

A recent debate about the financialisation of commodity markets has stimulated the development of new approaches to price formation which incorporate index traders as a new trader category. I survey these new approaches by retracing their emergence t... Read More about Approaches to Price Formation in Financialised Commodity Markets.

Compulsory Schooling and Returns to Education: A Re-Examination (2019)
Journal Article
van Huellen, S., & Qin, D. (2019). Compulsory Schooling and Returns to Education: A Re-Examination. Econometrics, 7(3), Article 36. https://doi.org/10.3390/econometrics7030036

This paper re-examines the instrumental variable (IV) approach to estimating returns to education by use of compulsory school law (CSL) in the US. We show that the IV-approach amounts to a change in model specification by changing the causal status o... Read More about Compulsory Schooling and Returns to Education: A Re-Examination.

Cereal Offenders (2019)
Digital Artefact
van Huellen, S. (2019). Cereal Offenders

Price Discovery in Commodity Futures and Cash Markets with Heterogeneous Agents (2019)
Journal Article
van Huellen, S. (2019). Price Discovery in Commodity Futures and Cash Markets with Heterogeneous Agents. Journal of International Money and Finance, 95, 1-13. https://doi.org/10.1016/j.jimonfin.2019.03.003

Since 2004, commodity futures markets have seen an unprecedented liquidity inflow linked to noise traders that follow global liquidity cycles rather than market fundamentals. This paper develops a price discovery model for commodity futures markets t... Read More about Price Discovery in Commodity Futures and Cash Markets with Heterogeneous Agents.

Too much of a good thing? Speculative effects on commodity futures curves (2018)
Journal Article
van Huellen, S. (2020). Too much of a good thing? Speculative effects on commodity futures curves. Journal of Financial Markets, 47, Article 100480. https://doi.org/10.1016/j.finmar.2018.12.001

The increasing inflow of index traders into commodity futures markets has been linked to anomalies in futures curves. At the same time, these investors have been welcomed as liquidity providers. In this paper, I reconcile the apparent dissent. Using... Read More about Too much of a good thing? Speculative effects on commodity futures curves.