Commodities, Volume 4, Issue 1 (March 2025) – 3 articles

Secondhand clothing has undergone a significant transformation from a vital household asset in the pre-industrial era to a dynamic segment of global trade in the 21st century. However, the advent of fast fashion has led to overproduction and mass consumption of inexpensive garments, fueling a surge in the secondhand clothing trade. Between 2002 and 2022, the market value of this industry quadrupled, with exports accounting for 1.17% of total global clothing exports in 2022. This study examines global secondhand clothing exports using export competitiveness tools such as revealed comparative advantage (RCA), the index of export market penetration (IEMP), the trade intensity index (TII), unit values, market shares, and the compound annual growth rate (CAGR). The top eleven secondhand clothing exporting countries are analyzed for a ten year period (2013 to 2022) using the United Nations Commodity Trade Statistics Database. The analysis reveals notable trends: the United States and China dominate the market, while Pakistan and the UAE exhibit the highest growth rates. The study also reaffirmed that trade patterns for secondhand clothing continue to flow from the Global North—including China—to the Global South, a trend observed since the early 2000s. This research provides a comprehensive, current analysis of the ever growing secondhand clothing export market within the sustainable management of the secondhand clothing context. Full article

The article analyzes the Granger-based causal relationship between two major crude oil markets, namely Brent and West Texas Intermediate (WTI), by using the standard vector autoregression (VAR) framework. In this regard, the effects of the COVID-19 pandemic and the Russia–Ukraine war on causality between Brent and WTI are examined. The empirical results from Granger-causality tests show (a) strong causality from Brent to WTI during the period prior to the COVID-19 pandemic and Russia–Ukraine war, (b) no causality from WTI to Brent during the period prior to the COVID-19 pandemic and Russia–Ukraine war, (c) no causality from Brent to WTI during the COVID-19 pandemic, (d) evidence of causality from WTI to Brent during the COVID-19 pandemic, and (e) no evidence of causality from both markets during the period of Russia–Ukraine war. In addition, causality tests in quantiles support results from the linear Granger causality tests in general. However, contrary to the standard linear causality test, the quantile-in-regression causality test shows that Brent returns cause WTI returns during the pandemic period and WTI returns cause Brent returns before the pandemic. Furthermore, the results from the time-varying Granger causality tests support all conclusions from the standard linear (and static) Granger causality test, except the hypothesis that Brent causes WTI during the pandemic. Moreover, the time-varying Granger tests show evidence that causality between Brent and WTI clearly varies across the pandemic and war periods. Revealing the causalities between Brent and WTI across periods of economic and political stability, pandemic, and war would help policymakers develop appropriate energy policy and help investors determine appropriate risk management actions. Full article