That Ghana derives her foreign exchange earnings mainly from cocoa and gold exports cannot be over emphasised. There is therefore the need to forecast these commodities prices as accurately as possible for proper planning and execution of major policies, since the prices have been notoriously volatile during the past two decades and attempts to stabilize especially the price of the beans (which contributes about 60% of the country's foreign exchange) through the system of buffer stock and export restrictions have not been successful. In this regard, autoregressive integrated moving averages models are built and used to generate short run forecasts for the beans and the precious metal price series. These models are simple to build and appear not only to describe the behaviour of the series but provide good forecasts of the prices.

This thesis examines the relationship between spot prices, futures prices, and ending stocks for storable commodities. We used Granger causality and DAGs to determine causal relationships and cointegration tests to determine long-run relationships. We use VAR/VECM and consider innovation accounting techniques to see how volatility in one market affects the price behavior and volatility in the other market. Results suggest that for agricultural commodities, innovations in futures price permanently increase the level of spot prices while accounting for much of spot price variance over time. For national oil, shocks to futures price decrease the level of spot price in the long run. In regional oil markets, there are transitory impulse responses. Futures price plays a small role in the volatility of spot prices for oil over time. Overall results are mixed, with oil suggesting futures markets may have a price stabilizing effect and agriculture commodities indicating spot price destabilization.

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Su Qian. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2005. / Includes bibliographical references (leaves 66-70). / Abstracts in English and Chinese. / Abstract --- p."i,ii" / Acknowledgements --- p.iii / Table of Content --- p.iv / List of Tables and Figures --- p.v / List of Abbreviation --- p.vi / Chapter Chapter 1. --- Introduction --- p.1 / Chapter Chapter 2. --- Literature Review --- p.4 / Chapter 2.1 --- Benefits of Cross-listing --- p.4 / Chapter 2.2 --- The Price-discovery process of cross-listed stocks --- p.8 / Chapter 2.3 --- Previous studies on Chinese cross-listed stocks --- p.2 / Chapter Chapter 3. --- China Overseas Listing --- p.15 / Chapter 3.1 --- The history of overseas listing --- p.15 / Chapter 3.2 --- Methods of overseas listing --- p.17 / Chapter 3.3 --- The motivation for Chinese firms to list overseas --- p.18 / Chapter 3.4 --- The prospects of China Overseas listing --- p.21 / Chapter Chapter 4. --- Price-discovery contributions to China-backed stocks cross-listed on SEHK and NYSE --- p.23 / Chapter 4.1 --- Data --- p.23 / Chapter 4.2 --- Methodology --- p.25 / Chapter 4.3 --- Empirical Results and Interpretation --- p.31 / Chapter 4.4 --- Cross-Sectional analysis of NYSE contributions to the price-discovery process --- p.40 / Chapter Chapter 5. --- Price-discovery contributions to the cross-listed H share and A share --- p.45 / Chapter 5.1 --- Data and Sample details --- p.46 / Chapter 5.2 --- Methodology --- p.49 / Chapter 5.3 --- Empirical results and interpretation --- p.54 / Chapter 5.4 --- A brief analysis of cointegration determinants --- p.57 / Chapter 5.5 --- The cointegration between H share and A share- Daily analysis --- p.61 / Chapter Chapter 6. --- Conclusion --- p.64 / Reference --- p.66 / Tables --- p.71

by Kam Ka Yan, Karen, Tan Wai Hon. / Thesis (M.B.A.)--Chinese University of Hong Kong, 2000. / Includes bibliographical references (leaf 50). / ABSTRACT --- p.ii / TABLE OF CONTENTS --- p.iii / LIST OF ILLUSTRATIONS --- p.iv / LIST OF TABLES --- p.v / Chapter / Chapter I --- INTRODUCTION --- p.1 / Red Wine from the French Bordeaux --- p.1 / Top five Bordeaux wine --- p.2 / Chapter II --- ABOUT WINE AUCTION --- p.4 / Wine auction --- p.4 / Factors affecting the hammer price in wine auction --- p.5 / Chapter III --- METHODOLOGY --- p.7 / Objective and hypothesis --- p.7 / Data collection and translation --- p.12 / Chapter IV --- FINDINGS --- p.15 / Regression analysis of model1 --- p.15 / Chateau Lafite --- p.15 / Chateau Latour --- p.17 / Chateau Haut Brion --- p.19 / Chateau Margaux --- p.21 / Chateau Mouton Rothschild --- p.23 / Combined Data --- p.25 / Regression analysis of Model2 --- p.27 / Chateau Haut Brion --- p.27 / Chateau Latour --- p.29 / Chateau Margaux --- p.31 / Chapter V --- CONCLUSION AND IMPLICATIONS --- p.33 / APPENDIX --- p.35 / BIBILIOGRAPHY --- p.50

Cheng Wing Yan. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2002. / Includes bibliographical references (leaves 115-122). / Abstracts in English and Chinese. / Abstract --- p.i-ii / Acknowledgements --- p.iii / Table of Contents --- p.iv / List of Tables --- p.v / List of Figures --- p.vi-vii / List of Charts --- p.viii / Chapter Chapter 1. --- Introduction --- p.1 / Chapter Chapter 2. --- Literature Review --- p.4 / Chapter Chapter 3. --- Methodology --- p.8 / Chapter Chapter 4. --- Data Description --- p.18 / Chapter Chapter 5. --- Empirical Results --- p.29 / Chapter 5.1 --- Simple Regression Results --- p.29 / Chapter 5.2 --- Structural Break Test Results --- p.31 / Chapter 5.3 --- Regression Results for Housing Attributes' Coefficients on Macroeconomic Variables --- p.32 / Chapter Chapter 6. --- Conclusion --- p.34 / Appendix 1. Limitation --- p.35 / Appendix 2. Tables --- p.37 / Appendix 3. Figures --- p.77 / Appendix 4. Charts --- p.107 / Appendix 5. Regression Results for Housing Attributes from Literature --- p.113 / Bibliography --- p.115

In this thesis the relationship between Brent oil prices, LME copper prices, Turkish gold and silver spot prices, XU100 index, interest rate and exchange rate is examined. Their long run Granger causality relationship is investigated by looking at Wald statistics. The short run relationship between them is examined by using generalized impulse responses. The data range is from January 2, 2002 to February 24, 2011. Due to the oil crisis in 2008, we divide the data into three periods: January 2, 2002 to December 31 as first period, 2007, from January 1, 2008 to December 31 as second period, 2008 and January 1, 2009 and February 24, 2011 as third period. We conduct each test separately for these periods but in third period we use Toda-Yamamoto procedure since maximum order of integration is 1.

Research on house prices and housing markets has traditionally been concerned with the modelling of house price determinants using hedonic regression equations and other methods of data interpretation. While this research has unveiled some useful insights into the relationships between housing supply, housing demand, and selling price, more recent work has focused on the "specialness" of housing as a commodity and the subsequent dismissal of regression techniques that only serve to throw us into a "statistical soup". Recent research is different in two key respects. First, forces other than macro-level variables (eg. interest rates and the availability of finance) and micro-level variables (household income, size, proximity to work) are believed to contribute to the fluctuations in housing prices over time and through space: specifically, more subjective evaluations of locational amenity, identity construction, and community are now considered in the valorisation of housing. Furthermore, newer research also understands that exogenous influences (eg. immigration, foreign investment) now play a key role in the determination of residential value. This research on residential real estate markets in Canada engages in discussions revolving around the latter of the two approaches using both qualitative and quantitative methods. At the inter-urban scale, analysis of house price movements in Canada's largest cities shows the divergence of Toronto and Vancouver from other CMAs, a trend that coincides with the increasing globalisation of both cities over the last 15 years. Further, intra-urban analyses of both Toronto and Vancouver demonstrate differential impacts of globalisation and economic restructuring within each city with particular neighbourhoods being placed on more of a "global" real estate market (eg. gentrified neighbourhoods, residential areas experiencing offshore investment, and areas of settlement for wealthy immigrants). The particular impacts of globalisation are, however, very different in each city and is dependant upon the nature of the global flows that converge there. Moreover, these results are not politically mute; considerable effort has been expended in Vancouver at least to obscure the actual effects of internationalisation on the regional housing market.

Research on house prices and housing markets has traditionally been concerned with the modelling of house price determinants using hedonic regression equations and other methods of data interpretation. While this research has unveiled some useful insights into the relationships between housing supply, housing demand, and selling price, more recent work has focused on the "specialness" of housing as a commodity and the subsequent dismissal of regression techniques that only serve to throw us into a "statistical soup". Recent research is different in two key respects. First, forces other than macro-level variables (eg. interest rates and the availability of finance) and micro-level variables (household income, size, proximity to work) are believed to contribute to the fluctuations in housing prices over time and through space: specifically, more subjective evaluations of locational amenity, identity construction, and community are now considered in the valorisation of housing. Furthermore, newer research also understands that exogenous influences (eg. immigration, foreign investment) now play a key role in the determination of residential value. This research on residential real estate markets in Canada engages in discussions revolving around the latter of the two approaches using both qualitative and quantitative methods. At the inter-urban scale, analysis of house price movements in Canada's largest cities shows the divergence of Toronto and Vancouver from other CMAs, a trend that coincides with the increasing globalisation of both cities over the last 15 years. Further, intra-urban analyses of both Toronto and Vancouver demonstrate differential impacts of globalisation and economic restructuring within each city with particular neighbourhoods being placed on more of a "global" real estate market (eg. gentrified neighbourhoods, residential areas experiencing offshore investment, and areas of settlement for wealthy immigrants). The particular impacts of globalisation are, however, very different in each city and is dependant upon the nature of the global flows that converge there. Moreover, these results are not politically mute; considerable effort has been expended in Vancouver at least to obscure the actual effects of internationalisation on the regional housing market. / Arts, Faculty of / Geography, Department of / Graduate

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