Showing 1 - 10 of 18
The aim of this paper is to provide new empirical evidence on the impact of international financial integration on the long-run Real Exchange Rate (RER) in 39 developing countries belonging to three different geographical regions (Latin America, Asia and MENA). It covers the period 1979-2004,...
Persistent link: https://www.econbiz.de/10008529004
The aim of this paper is to apply recent advances in the econometrics of non-stationary dynamic panel methods to examine the robustness of the PPP concept for a sample of 73 developed and developing countries. Our investigations indicate that the strong PPP is verified for OECD and MENA...
Persistent link: https://www.econbiz.de/10005489909
This paper tests empirically the Balassa-Samuelson (BS) hypothesis using annual data for 6 Asian countries. We apply new panel data cointegration techniques recently developed by Pedroni (2000) and we compare the results with those obtained with conventional Johansen (1995)’s time series...
Persistent link: https://www.econbiz.de/10005652525
The main goal of this paper is to tackle the empirical issues of the real exchange rate litterature by applying recently developed panel cointegration techniques to a structural long-run real exchange rate equation. We consider here a sample of 45 developing countries, divided into three groups...
Persistent link: https://www.econbiz.de/10005677416
We investigate inflation convergence between the Euro Zone and its CEE partners using panel data methods that incorporate structural shifts. We find strong rejections of the unit root hypothesis, and therefore evidence of PPP, in the East-European countries for the 1995:1 to 2000:4 period.
Persistent link: https://www.econbiz.de/10005677477
The main objective of the following article is to present the key findings of the existent research in the field of the influence the introduction of the euro had on the trade of the member states of the Economic and Monetary Union (EMU). The intention of this article is also to inspire further...
Persistent link: https://www.econbiz.de/10008606466
We use partisan and opportunistic political business cycle (“PBC”) considerations to develop and test a framework for explaining election-period changes in credit spreads for developing country sovereign bonds. Pre-election bond spread trends are significantly linked both to the partisan...
Persistent link: https://www.econbiz.de/10005784660
We use partisan and opportunistic political business cycle (“PBC”) considerations to develop a framework for explaining election-period decisions by credit rating agencies (“agencies”) publishing developing country sovereign risk-ratings (“ratings”). We test six hypotheses derived...
Persistent link: https://www.econbiz.de/10005784745
Eastern German privatization and restructuring of firms is seen as a special case because of the peculiarities of … problems as other countries in transition when privatizing and restructuring firms: It had to decide about the aims, methods … and traditions, and it had to find a general economic policy toward restructuring. I argue that eastern German …
Persistent link: https://www.econbiz.de/10005784716
This paper examines the empirical evidence on the impact of reforms in the financial sector in Romania in the period 1993-1995. The methodological framework of the paper is based on a theoretical model of intertemporal bank lending in a transition country with uncertain prospects for...
Persistent link: https://www.econbiz.de/10005784723