Depuis 1995 le processus euroméditerranéen est en panne. Ce retard pourrait être facteur de tensions économiques, mais surtout politique et sociales. Débat sur la feuille de route des 5 pays du nord et des 5 pays du sud de la Méditerranée qui pourraient constituer la charpente d'une...

Because IPO mechanisms determine both the initial trading price and the allocation of newly-listed firms' shares, they have financial and strategic consequences for shareholders. For that reason, it is of interest to analyse the relative advantages and disadvantages of the different procedures...

The purpose of this paper is to analyze the impact of the Bank of Japan's official interventions on the JPY/USD parity during the period 1992–2004. The novelty of our approach is to combine two recent advances of the empirical literature on foreign exchange interventions: (i) drawing on...

The World Bank and the International Monetary Fund launched a joint initiative in September 1999, setting the fight against poverty at the heart of development policies. Under this initiative, developing countries wishing to apply for financial aid from either of the organizations, or for debt...

This paper examines jointly the empirical relevance of the mean-reversion and the PPP hypotheses in the exchange rate dynamics under the EMS. Given the non-stationarity and the non-linearities characterizing the foreign exchange rate dynamics, this question is studied using a MS-ECM model: it...

In the late 1990s, controversies among academics and policymakers were focused to a large extent on the "pros and cons" of adopting a monetary regime of complete and official dollarization in many emerging countries. Conversely, towards the mid-2000s de-dollarization is one of the main themes of...