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Do Overseas investments create or replace trade? New insights from a macro-sectoral study on Japan
Chiappini, Raphaël - HAL - 2013
This paper investigates the relationship between outward foreign direct investment (FDI) and both exports and imports … overseas investments substitute for exports in chemicals products and for both exports and imports in general machinery. … between FDI and exports is overestimated when using the Ordinary Least Square (OLS) estimator. The PPML method also allows …
Persistent link: https://www.econbiz.de/10010899357
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Capacity Investment under Demand Uncertainty. An Empirical Study of the US Cement Industry, 1994‐2006
Ponssard, Jean-Pierre; Thomas, Catherine - HAL - 2010
this sector have the ability to deliver cement either from domestic plants or from imports. Since cement is costly to … transport via land, the difference in marginal cost between local production and imports varies across local markets. The … marginal cost of imports is lower in areas with access to a sea port, decreasing the relative value of investing in local …
Persistent link: https://www.econbiz.de/10008793774
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Shift-Volatility Transmission in East Asian Equity Markets
Aloy, Marcel; Truchis, Gilles De; Dufrénot, Gilles; … - HAL - 2013
This paper attempts to provide evidence of "shift-volatility" transmission in the East Asian equity markets. By shift-volatility, we mean the volatility shifts from a low level to a high level, corresponding respectively to tranquil and crisis periods. We examine the interdependence of equity...
Persistent link: https://www.econbiz.de/10010933832
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Business Cycles Synchronization in East Asia: A Markov-Switching Approach
Dufrénot, Gilles; Keddad, Benjamin - HAL - 2013
This paper attempts to analyze the relationships between the ASEAN-5 countries' business cycles. We examine the nature of business cycles correlation trying to disentangle between regional spillover effects (expansion and recession phases among the ASEAN-5 are correlated) and global spillovers...
Persistent link: https://www.econbiz.de/10010933854
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The use of accounting and stock market data to predict bank financial distress: the case of East Asian banks
Distinguin, Isabelle; Tarazi, Amine; Trinidad, Jocelyn - HAL - 2011
This paper investigates whether market information could add to accounting information in the prediction of bank financial distress in Asia. A stepwise logit model is first estimated to isolate the optimal set of accounting indicators and then extended to include market indicators. Dummy...
Persistent link: https://www.econbiz.de/10010607934
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The impact of external shocks in East Asia : lessons from a structural VAR model with block exogeneity
Allegret, Jean-Pierre; Couharde, Cécile; Guillaumin, Cyriac - HAL - 2012
In this paper, we examine the relative importance of external shocks in domestic fluctuations of East Asian countries and check if these shocks lead to asymmetric or symmetric reactions between the considered economies. To this end, we estimate, over the period 1990.1-2010.4, a structural VAR...
Persistent link: https://www.econbiz.de/10010898573
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Are early market indicators of financial deterioration accurate for Too Big To Fail banks? Evidence from East Asia
Distinguin, Isabelle; Tarazi, Amine - HAL - 2010
This paper investigates whether market information is reliable to predict financial deterioration of large Too Big To Fail banks in Asia. A stepwise logit model is first estimated to isolate the optimal set of accounting indicators to predict rating downgrades. The model is then extended to...
Persistent link: https://www.econbiz.de/10010820702
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The determinants of bank stock return's co-movements in East Asia
Bautista, Carlos; Rous, Philippe; Tarazi, Amine - HAL - 2009
We examine co-movements of bank stock returns in eight East Asian countries after the 1997 crisis and attempt to determine the factors that influence them. Unlike Bautista and al (2008) who focus on a measure of the contribution of banks to systemic risk, we consider the return correlations...
Persistent link: https://www.econbiz.de/10010821010
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The use of accounting and stock market data to predict bank financial distress: the case of East Asian banks
Distinguin, Isabelle; Tarazi, Amine; Trinidad, Jocelyn - HAL - 2008
This paper investigates whether market information could add to accounting information in the prediction of bank financial distress in Asia. A stepwise logit model is first estimated to isolate the optimal set of accounting indicators and then extended to include market indicators. Dummy...
Persistent link: https://www.econbiz.de/10010821430
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Export Behaviour and Propensity to Innovate in a Developing Country: The Case of Tunisia
Rahmouni, Mohieddine; Yildizoglu, Murat; Ayadi, Mohamed - HAL - 2011
The relation between export behaviour and the propensity to innovate is an important question for a developing economy. This article dedicated to this question through the analysis of the first innovation survey of Tunisian firms. We analyze the relationship between the export behaviour and the...
Persistent link: https://www.econbiz.de/10009211253