This paper applies a time-varying cointegration (TVC) model to study regional financial integration, measured by the drifting cointegration coefficient of the long-term interest rates between Singapore and Malaysia. Conditioned on long-run exchange rate equilibrium, the evolving relation can be...

Attracting foreign direct investment (FDI) has been an important policy agenda under institutional and regulatory reforms toward the decentralized system in Indonesia. Infrastructure development has been acknowledged as a crucial condition to attract foreign direct investment. This study...