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DURHAM ECONOMICS DIGEST
Markets
Bears and bulls: All the latest insights on the highs and lows of financial markets.


Dropping Cocoa Prices: Sweet for Consumers, Bitter for Farmers
With Valentine’s Day approaching, the prices of fancy chocolates and flowers skyrocket with the sudden influx of lovers demanding these goods to gift to their partners. In Ghana – the world’s second largest producer of cocoa – unpaid cocoa farmers are finding it difficult to put food on the table and pay for their children’s schooling. In 2024, Ghana ranked 81 out of 193 in terms of GDP, with most of its trade (16B) dependent on the export of gold (5.90B), cocoa (1.46B) and

Gabby Wong
6 days ago4 min read


South Africa Eyes ECB Repo Lines to Shield Against Financial Stress
Many emerging markets have shown increased interest in using the expanded euro repo operations launched by the European Central Bank as a way of dealing with their financial liquidity and economic stability concerns. South African Reserve Bank Governor Lesetja Kganyago recently suggested that South Africa would be “keen to utilise” these operations, symbolising a notable shift in the way emerging economies seek economic stability and how they can cope against market volatili

James Smith
Feb 82 min read


There’s Only One Solution Ahead for the Russian Economy. It’s A Corridor.
On the much anticipated 25th of December , 1991, the indifferent Kremlin observes the Soviet flag lowered as Mr. Gorbachev’s televised resignation speech marks an end to the soaring inflation, unprofitable private businesses and sarcastic fixed prices of the USSR’s planned economy. Whilst stagnation is at its worst, the government insists on its high military spending. These qualities might resemble Russia’s troubled economy today, as the war in Ukraine continues. This res

Ali Hashemifara
Feb 65 min read


Why Box Office “Success” Doesn’t Mean Profit
Wait, Do Films Actually Make Money? Recently, I read an article that described acclaimed film Hamnet as a runaway success. In some aspects, this is correct. After all, eight Oscar nominations is nothing to sniff at. When I saw it at Vue – along with about half the middle-aged women of Norfolk – I was not the only one in floods of tears. What I held issue with was it’s describing Hamnet , more specifically, as a commercial success. As I will describe later, a film simply ear

Emily Hatwell
Feb 24 min read


Intel’s Supply Bottlenecks Expose the High Cost of a Manufacturing Comeback
Intel is one of the world’s largest semiconductor companies, designing and manufacturing chips that power personal computers, data centres, and critical digital infrastructure. Long dominant in PC processors, the company is now attempting a costly revival of its manufacturing capabilities to compete at the cutting edge of advanced chip production in the US. Recent market reactions show how difficult and economically risky that effort remains. Supply Constraints and Revenue P

Gayathri Sunil Pushpangadan
Jan 252 min read


The EU-Mercosur Agreement: A New Chapter in Global Trade
After more than 25 years of negotiations, the European Union and the Mercosur trade bloc, consisting of Argentina, Bolivia, Brazil, Paraguay and Uruguay, have taken a historic step towards a trade pact that could reshape global commerce. On January 9th 2026, the EU Council authorised the signature of the EU-Mercosur Partnership Agreement and an interim Trade Agreement, marking a breakthrough in discussions dating back to 1999. The agreement was formally signed in mid-January

James Smith
Jan 252 min read


The Economy of Iran Needs a Monetary Cooldown, not Another Revolution
The Economy of Iran Needs a Monetary Cooldown, Not Another Revolution. When Mr. Khomeini stepped out of that famous chartered Air France Boeing 747 flight on February 1, 1979 in Tehran, it did not cross anyone’s mind for a second that forty-seven years later, the children of those who so ardently rioted against their banished King, would indeed riot again to have their olden days back. Revolution, they so emphatically hold, would bring those days back. I believe, however, tha

Ali Hashemifara
Jan 134 min read


The EU’s Reparations Loan Is Risky. Here's An Alternative.
On December 18th , the day I am nervously looking forward to, the European Council in Brussels will make a decision either too prudent or too fatal. Europe has now reached a stage where it needs only one last push to deter Russian aggression. The push however, is not anymore affordable. That is why you and I have recently heard too much about what Brussels calls “reparations loan” which I must admit I hope it be not implemented. The EU is short of Ukraine’s new budget require

Ali Hashemifara
Dec 14, 20255 min read


Buy Now, Pay Later: is financing that Black Friday burrito really worth it?
Buy Now, Pay Later (BNPL) providers have rapidly taken over online checkouts. Now, it’s become impossible to visit any online vendor without seeing the soft pastel colours of Klarna or Afterpay; slowly dominating and becoming the primary method of payment for the younger shoppers. The prospect of paying four small instalments – no interest charged, if paid on time. This makes the hard pill of the total price much easier to swallow. BNPL providers like Klarna, Affirm, Afterpay

Gabby Wong
Dec 7, 20254 min read


Winner of the 2022/23 Undergraduate Essay Competition: Sonia Lee
Sonia Lee discusses the economic and geopolitical implications of the recent US-imposed tariffs on semiconductors in China

Sonia Lee
Feb 11, 20236 min read


Uncertainty; Spreads Like Wildfire
An investigation into the relationship between uncertainty and credit spreads

Bailey Rawden
Jan 2, 20238 min read


Memecoins: A harmless joke or something far more sinister?
On 6th December 2013, Dogecoin was launched as a proof of work cryptocurrency, based upon the existing protocols of Litecoin and...

Samuel Buchan
Jan 18, 20223 min read


Stealing from the Poor to Endow the Rich: The Robinhood Irony
On March 23, 2016, Robinhood, a little-known brokerage app at the time, tweeted “Let the people trade.” By 2018, the app was on the...

Legacy Writer
Sep 23, 20214 min read


Insider Trading: Do the banks really care?
Jonathan is a 2nd year Finance/Econometrics PhD student at Durham University Business School, has an MBA in Finance from Durham and a PhD...

Legacy Writer
Sep 23, 20214 min read



Legacy Writer
Sep 23, 20214 min read
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