The Capital Markets, Emerging Economies and Commodities Cluster (CMEEC)

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The Capital Markets, Emerging Economies and Commodities (CMEEC) cluster is a vibrant research community composed of academic researchers working across the departments of the Faculty of Management at Bournemouth University.

The cluster covers a wide range of topics in the area of finance, economics, international business and agriculture reflecting the background of its membership. While the cluster puts a strong emphasis on research leading to publication in refereed academic journals, the members research over a broad spectrum of issues in relation to the functioning of financial markets, labour markets, innovation, emerging-transition economies, strategy, commodities, international trade as well as global and corporate governance.



The cluster members have published books and articles in major refereed journals, including:


  • Jens Hӧlscher and Horst Tomann (Eds.): Palgrave Dictionary of Emerging Markets and Transition Economics, London and New York, Palgrave (Macmillan’s Global Publishing), 2015

Journal publications:

  • Apostolakis, C., 2013. Strategy for Social Enterprises or Never Say Never. International Journal of Innovation and Regional Development.
  • Botchie, D., Sarpong, D. and Bi, J., 2016. Technological inclusiveness: Northern versus Chinese induced technologies in the garment industry. Technological Forecasting and Social Change.
  • Sarpong, D., Tjong-A-Hung, I. and Botchie, D., 2016. Breaking new grounds: Deployment of electronic data capture (EDC) for clinical trials in China. Strategic Change.
  • Ackah, C.G., Aryeetey, E., Botchie, D. and Osei, R., 2012. The Transmission of World Commodity Prices to Domestic Markets: Household welfare effects in Ghana, in Ackah, C. and E. Aryeetey (ed), Globalisation, Trade and Poverty Reduction in Ghana. International Development Research Centre (Canada).
  • Chowdhury, M. and Mukherjee, A., 2016. Labour Market Integration and Innovation: The Implications on Consumers. Manchester School, 84 (6), 771-794.
  • Chowdhury, M., 2016. Migration policies and international labour market competition. Migration and Development.
  • Djalilov, K. and Holscher, J., 2016. Regulations, market power and stability in the banking sector of transition countries. LIMES Plus: Journal of Social Sciences and Humanities, 77-94.
  • Djalilov, K. and Piesse, J., 2016. Determinants of bank profitability in transition countries: What matters most? Research in International Business and Finance, 38, 69-82.
  • Djalilov, K. and Hölscher, J., 2016. Comparative analyses of the banking environment in transition countries. Economic Annals, 61 (208), 7-25.
  • Antonakakis, N., Chatziantoniou, I. and Filis, G., 2017. Oil shocks and stock markets: Dynamic connectedness under the prism of recent geopolitical and economic unrest. International Review of Financial Analysis.
  • Hassani, H., Silva, E.S., Antonakakis, N., Filis, G. and Gupta, R., 2017. Forecasting Accuracy Evaluation of Tourist Arrivals. Annals of Tourism Research.
  • Antonakakis, N., Chatziantoniou, I. and Filis, G., 2017. Energy Consumption, CO2 Emissions, and Economic Growth: An Ethical Dilemma. Renewable & Sustainable Energy Reviews, 68, 808-824.
  • Degiannakis, S., Filis, G. and Palaiodimos, G., 2017. Investments and uncertainty revisited: the case of the US economy. Applied Economics, 1-9.
  • Boldanov, R., Degiannakis, S. and Filis, G., 2016. Time-varying correlation between oil and stock market volatilities: Evidence from oil-importing and oil-exporting countries. International Review of Financial Analysis, 48, 209-220.
  • Hölscher, J., Nulsch, N. and Stephan, J., 2017. State Aid in the New EU Member States. Journal of Common Market Studies.
  • Holscher, J., Perugini, C. and Collie, S., 2015. Inequality, credit and financial crises. Cambridge Journal of Economics, 1-31.
  • Khorana, S., Ferguson-Boucher, K. and Kerr, W.A., 2015. Governance Issues in the EU’s e-Procurement Framework. Journal of Common Market Studies, 53 (2), 292-310.
  • Khorana, S. and Garcia, M., 2014. Procurement liberalization diffusion in EU agreements: Signalling stewardship? Journal of World Trade, 48 (3), 481-500.
  • Khorana, S., Mishra, N. and Kerr, W.A., 2014. Transforming Vietnam: A quest for improved efficiency and transparency in central government procurement. Policy and politics, 42 (1), 109-129.
  • Lan, H., Lloyd, T. and Morgan, C.W., 2015. Supermarket Promotions and Food Prices: A Note. Journal of Agricultural Economics, 66 (2), 555-562.
  • Lloyd, T.A., McCorriston, S., Morgan, C.W., Poen, E. and Zgovu, E., 2014. Retail price dynamics and retailer heterogeneity: UK evidence. Economics Letters, 124 (3), 434-438.
  • Davidson, J., Halunga, A., Lloyd, T., McCorriston, S. and Morgan, W., 2016. World Commodity Prices and Domestic Retail Food Price Inflation: Some Insights from the UK. Journal of Agricultural Economics, 67 (3), 566-583.
  • Homberg, F., McCarthy, D. and Tabvuma, V., 2015. A Meta-Analysis of the Relationship between Public Service Motivation and Job Satisfaction. PUBLIC ADMINISTRATION REVIEW, 75 (5), 711-722.
  • Stojcic, N. and Orlic, E., 2016. Foreign Direct Investment and structural transformation of exports. Ekonomska misao i praksa, 11 (2), 355-378.
  • Afrifa, G., Tauringana, V. and Tingbani, I., 2015. Working capital management and performance of listed SMEs. Journal of Small Business & Entrepreneurship, 27 (6).
  • Hassani, H., Webster, A., Silva, E.S. and Heravi, S., 2015. Forecasting U.S. Tourist arrivals using optimal Singular Spectrum Analysis. Tourism Management, 46, 322-335.
  • Okafor, G., Piesse, J. and Webster, A., 2015. The motives for inward FDI into Sub-Saharan African countries. JOURNAL OF POLICY MODELING, 37 (5), 875-890.

Externally funded projects

Projects with external funding include the following:

  1. 2014-2016, Project title: ‘Access to Finance for SMEs’, ESRC project ES/M002462/1 (Principal Investigator Prof. Jens Hӧlscher). Status: Completed.
  2. 2014, Project title: GIFTA: Governance and Economic Integration through Free Trade Agreements (Investigator Prof. Sangeeta Khorana). ESRC. Status: Awarded.
  3. 2015, Project title: TTIP Negotiations: Caught between Myth and Reality? (Investigator Prof. Sangeeta Khorana) Council for Europe through CIDOB. Status: Completed.
  4. 2016, Project title: Supermarket Promotions, Obesity and Food Demand (Investigator Prof. Tim Lloyd). BU-SRUC Matched Funded Ph.D. Studentship (2016-2019). Partner: Scotland’s Rural College, Edinburgh. Status: Awarded.
  5. 2016, Project title: Public Procurement Initiative (Investigator Prof. Sangeeta Khorana). Directorate-General for Development and Cooperation – EuropeAid. Status: Awarded.
  6. 2017, Project title: ‘Objective-Based Forecast Evaluations for Crude Oil Volatility’ (Investigator Dr. G. Filis). Funded by the European Union’s Horizon 2020 research and innovation programme, under the Marie Sklodowska-Curie Fellowship (H2020-MSCA-IF-2016). Status: Awarded.


Dr Khurshid Djalilov
Cluster Lead


Our PhD students

  • Amre Arslan
  • Frazer Ball
  • Spencer Barnett
  • Danquah Boakye
  • Joseph Chenchehene
  • Thanh Chu
  • Jan Cormans
  • Zara Ghodsi
  • Salem Gheit
  • Peter Howard-Jones
  • Wansu Hu
  • Xu Huang
  • Renata Konadu
  • Man Ngugen
  • Noah Nzeribe
  • Azadeh Pazouki
  • Olivia Placzek
  • Yu Trang
  • Onyedikachi Uwakwem
  • Fang Yang
  • Mehmet Yarlik


Tagged:Capital marketsCommoditieseconomyEmerging economies

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