• Korea Trade Review
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• v.47 no.4
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• pp.177-195
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• 2022

This study analyzed the volatility spillover effect between international non-ferrous metal futures markets using the BEKK-GARCH model. Statistical data are futures price data of copper (CU), aluminum (AL), nickel (NI), tin (SN) from Shanghai Futures Exchange (SHFE) and London Metal Exchange (LME) from April 1, 2015 to December 31, 2021. Combining the research results, first, in the case of copper, aluminum, and nickel, it was found that there was a two-way volatility spillover effect between the Shanghai and London markets, and the international influence of the London market was greater. Second, in the case of the tin, it was found that the Shanghai market has a volatility spillover effect on the London market from stage I, and it is strengthened in stage II. Third, in the case of nickel, it was found that there was a two-way volatility spillover effect in the first stage, but in the second stage, the London market had a unidirectional volatility spillover effect with respect to the Shanghai market. This study confirmed that China's influence in the international non-ferrous metal futures market is gradually increasing. In addition, it suggested that international investors can engage in arbitrage and hedging using China's non-ferrous metal futures market.

• Acta Via Serica
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• v.8 no.2
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• pp.53-78
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• 2023

The paper presents some new results illustrating some developments related to the concept of the Silk Road and subsequent methodological reflections. New laboratory results of scientific analyses of plants, minerals, and human remains in combination with more conventional methods of research contribute to a better understanding of the multidirectionality of exchanges in Pre- and Protohistory. Unsuspected long-distance transfers of items, especially of metals (tin) and biological materials (plants, pathogens, etc.) are discovered. Adding ancient DNA and petroglyphs to the vexed question of the Indo-European migrations across Eurasia complexifies the familiar linguistic, historical, and archaeological research landscape. Recent excavations show the impact of the adoption of artistic elements adapted from the Achaemenid arts, far in the steppe world, and up to China. Multidirectional (including North-South lanes) and multidisciplinary approaches leave space and hope for more rigorous scientific modelizations for the archaeology of Eurasia and the Silk Road.