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Democracy and countries with Muslim majorities : a reply and update

Potrafke, Niklas - 2012

democratic. Hanusch takes issue with my results - and by inference with all past empirical results on the relation between Islam …. He establishes his conclusion by excluding the heartland of Islam from the estimation sample. For his estimates, Hanusch … in the heartland of Islam. -- political institutions ; Islam …

Persistent link: https://www.econbiz.de/10009687187

Donor ideology and types of foreign aid

Brech, Viktor; Potrafke, Niklas - 2013

We examine how donor government ideology influences the composition of foreign aid flows. We use data for 23 OECD countries over the period 1960]2009 and distinguish between multilateral and bilateral aid, grants and loans, recipient characteristics such as income and political institutions,...

Persistent link: https://www.econbiz.de/10009764976

How national and international financial development affect industrial R&D

Maskus, Keith E.; Neumann, Rebecca; Seidel, Tobias - 2011

We examine the impacts of both domestic and international financial market development on R&D intensities in 22 manufacturing industries in 18 OECD countries for the period 1990- 2003. We take account of such industry characteristics as the need for external financing and the amount of tangible...

Persistent link: https://www.econbiz.de/10009130154

Financial integration, globalization, and real activity

De Nicolò, Gianni; Juvenal, Luciana - 2012

Using data for a large number of advanced and emerging market economies during 1982-2009, this paper examines the distinct impact of financial integration and globalization on several dimensions of real activity. We find that: (a) financial integration has progressed significantly worldwide,...

Persistent link: https://www.econbiz.de/10009490605

A game-theoretic foundation for the Wilson equilibrium in competitive insurance markets with adverse selection

Mimra, Wanda; Wambach, Achim - 2011

We extend the seminal Rothschild and Stiglitz (1976) model on competitive insurance markets with asymmetric information in the spirit of Wilson (1977)'s 'anticipatory equilibrium' by introducing an additional stage in which initial contracts can be withdrawn after observation of competitors'...

Persistent link: https://www.econbiz.de/10009011830

Sovereign rating news and financial markets spillovers : evidence from the European debt crisis

Arezki, Rabah; Candelon, Bertrand; Sy, Amadou N. R. - 2011

This paper examines the spillover effects of sovereign rating news on European financial markets during the period 2007-2010. Our main finding is that sovereign rating downgrades have statistically and economically significant spillover effects both across countries and financial markets. The...

Persistent link: https://www.econbiz.de/10009011838

Equity risk premium and regional integration

Arouri, Mohamed; Teulon, Frédéric; Rault, Christophe - 2013

This article contributes to the literature on stock market integration by developing and estimating a capital asset pricing model with segmentation effects in order to assess stock market segmentation and its effects on risk premia at the regional level. We show that the estimated degrees of...

Persistent link: https://www.econbiz.de/10009722414

Market structure and the cost of capital

Arouri, Mohamed; Rault, Christophe; Sova, Robert; Sova, … - 2013

We contribute to the finance literature in two main ways. First, we present a theoretical capital asset pricing model (CAPM) to price assets in different market structures. Second, we use our model to analyze whether when markets are partially segmented using the local or the global CAPM yields...

Persistent link: https://www.econbiz.de/10009700297

Macro news and bond yield spreads in the Euro area

Caporale, Guglielmo Maria; Spagnolo, Fabio; Spagnolo, Nicola - 2014

This paper analyses the effects of newspaper coverage of macro news on the spread between the yield on the 10-year German Bund and on sovereign bonds in eight countries belonging to the euro area (Belgium, France, Greece, Ireland, Italy, the Netherlands, Portugal and Spain) using daily data for...

Persistent link: https://www.econbiz.de/10010417491

Macro news and stock returns in the euro Area : a VAR-GARCH-in-means analysis

Caporale, Guglielmo Maria; Spagnolo, Fabio; Spagnolo, Nicola - 2014

This paper analyses the effects of newspaper coverage of macro news on stock returns in eight countries belonging to the euro area (Belgium, France, Germany, Greece, Ireland, Italy, Portugal and Spain) using daily data for the period 1994 - 2013. The econometric analysis is based on the...

Persistent link: https://www.econbiz.de/10010383808