This paper studies the impact of global financial turmoil on the exchange rate policies in emerging countries. Many emerging countries have loosened the link of their currencies to the US dollar since the bursting of the subprime crisis in July 2007. Spillovers from advanced financial markets to...

This paper studies the impact of global financial turmoil on the exchange rate policies in emerging countries. Many emerging countries have loosened the link of their currencies to the US dollar since the bursting of the subprime crisis in July 2007. Spillovers from advanced financial markets to...

The aim of this paper is to test whether a stable long-term relationship exists between oil prices and the US effective exchange rate, expressed in real terms. To this end, weproceed to a cointegration and causality study between the two variables. Our results indicate that causality runs from...

Avec la crise financière des subprimes, les pays d'Asie de l'Est ont renforcé leur coopération financière en signant un accord officialisant l'étape de multilatéralisation de l'initiative de Chiang Mai annoncée au début de 2009. Cette signature, qui témoigne de l'accélération de...

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...

The aim of this article is to study the vulnerability of the New-Caledonian economy from the analysis of the historical trajectories of genuine saving and its component linked to natural capital. To this end, we calculate New-Caledonia's genuine saving, in accordance with the World Bank's...

The aim of this article is to answer the following question: can the considerable rise in the volatility of the LAC stock markets in the aftermath of the 2007/2008 crisis be explained by the worsening financial environment in the US markets? To this end, we rely on a time-varying transition...

Cet article propose une synthèse de la littérature concernant les tests de racine unitaire en panel. Deux principales évolutions peuvent être mises en évidence dans cette voie de recherche depuis les travaux fondateurs de Levin et Lin (1992). D'une part, on a pu assister depuis la fin des...

We revisit the evidence of the existence of a long -run link between financial intermediation and economic growth, by testing of cointegration between the growth rate of real GDP, control variables and three series reflecting financial intermediation. We consider a model with a factor structure...

L'objet de ce papier est de dresser un panorama complet de la littérature relative aux tests de cointégration sur données de panel. Après un exposé des concepts spécifiques à la cointégration en panel, sont ainsi présentés les tests de l'hypothèse nulle d'absence de cointégration...