This paper analyzes the effects of capital controls and crises on financial integration, using stocks from emerging economies that trade in both domestic and international markets. The cross-market premium (the ratio between the domestic and the international market price of cross-listed stocks)...

This paper considers the general equilibrium relationship between exchange rates and global imbalances. It emphasizes that the exchange rate is not a primitive but an equilibrium price determined by the policy mix. It uses extensions of the two-country Obstfeld-Rogoff model to analyze the...

This study is the first attempt to investigate the patterns of imports and exports between the Russian Federation and East Asian economies, namely, the People's Republic of China; Hong Kong, China; Macau, China; Japan; the Republic of Korea; and Mongolia. To this end, a panel-gravity trade model with...