Employing a unique panel of 691 private firms that accounted for 26% of total value-added in manufacturing in Turkey, the paper explores the impacts of exchange rate volatility on employment growth during the period of 1983 - 2005. The empirical analysis using a variety of specifications,...

The recent developments in the theory of industrial organisation have underlined the importance of small scale industry. Small industry can be equally competitive in the fast changing global economy provided it exploits economies of scale and scope while locating itself in clusters along with...

This paper asks whether external shocks (U.S. interest rates, U.S. industrial production, U.S. stocks prices and world industrial material price) have asymmetric effects on European relative prices (real exchange rates). On 1979-1993 period, the paper finds that two groups of countries may be...

This paper investigates the effects of real exchange rate uncertainty on manufactures exports from 28 emerging economies, representing 82\% of all developing country manufactures exports, and explores the sources of heterogeneity in the uncertainty effects by controlling for the direction of...

The aim of this paper is to apply recently developed panel cointegration techniques proposed by Pedroni (1999, 2004) to evaluate the effectiveness of various regional trade agreements by examine the goods market integration between trading partners using purchasing power parity (PPP). The...

Using annual data (1970-2004), this study re-examined the hypothesis that exchange rate volatility may dampen export demand in Malaysia and Turkey. In particular, this study attempts to investigate the impact of exchange rate volatility on exports after taking into consideration the presence of...

The past attempts to investigate whether the Marshall-Lerner condition is fulfilled by using aggregate data in Bangladesh suffer from aggregation bias. This paper estimates trade elasticities using bilateral data between Bangladesh and its major trading partners. The results, using data covering...

There are various benefits which countries could derive from the renouncement of a national currency hallmarked by unstable external and internal values. The most evident one is the reduction of a long-term inflation rate. The objective of this paper is to test the hypothesis of the positive...

In this paper, we study the trilemma configuration of the Turkish economy. The paper starts by empirically testing the Mundell-Fleming theoretical concept of an “impossible trinity” (trilemma) for Turkey, following the Aizenman, Chinn and Ito (ACI) approach. This includes calculating the...

This paper estimates using econometric techniques the equilibrium exchange rate in Romania based on fundamentals. The cointegration technique lead to the conclusion that an increase in relative prices differential between Romania and Euro zone and an increase in net foreign assets of the banking...