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Does Fiscal Policy Matter for the Trade Account? : A Panel Cointegration Study

Nickel, Christiane - 2006

This paper analyzes the empirical relationship between fiscal policy and the trade account. Research prior to this paper did not consider that the components of private and public demand in the import demand equation exhibit different elasticities. Using pooled mean group estimation for annual...

Persistent link: https://www.econbiz.de/10014402247

Do asset price drops foreshadow recessions?

Bluedorn, John Christopher; Decressin, Jörg; Terrones, … - 2013

This paper examines the usefulness of asset prices in predicting recessions in the G-7 countries. It finds that asset price drops are significantly associated with the beginning of a recession in these countries. In particular, the marginal effect of an equity/house price drop on the likelihood...

Persistent link: https://www.econbiz.de/10012667489

Global Liquidity, Risk Premiums and Growth Opportunities

De Nicolò, Gianni - 2009

This paper constructs new indicators of liquidity for equity, bond and money markets in major advanced and emerging market countries, documents their evolution and comovements, and assesses the extent to which such measures are determinants of selected spreads and proxy measures of countries''...

Persistent link: https://www.econbiz.de/10014404263

China's bond market and global financial markets

Cerutti, Eugenio M.; Obstfeld, Maurice - 2018

A cross-country comparative analysis shows that there is substantial room for further integration of China into global financial markets, especially in the case of the international bond market. A further successful liberalization of the Chinese bond market would encompass not only loosening...

Persistent link: https://www.econbiz.de/10011978420

Cointegration of International Stock Market Indices

Chou, Ray Yeutien - 1994

In this paper, we derive evidence on the integration of international stock markets from the cointegration properties … of international stock market prices. Using the multivariate cointegration test of Johansen, we find that the set of six … subgroup analyses also indicate that the cointegration relationships have become stronger over time. This is consistent with …

Persistent link: https://www.econbiz.de/10014395829

Financial Market Integration and Exchange Rate Policy

Rojas-Suárez, Liliana - 1990

This paper examines how a country’s exchange rate policy should be adjusted when the degree of integration between domestic and external financial markets increases as a result of both domestic financial liberalization and the relaxation of capital controls. As the financial structure is...

Persistent link: https://www.econbiz.de/10014396254

Capital Market Integration : Progress Ahead of the East African Community Monetary Union

Yabara, Masafumi - 2012

Capital markets in the East African Community (EAC) face common challenges of low capitalization and liquidity, but to different degrees. EAC member countries have made noticeable progress in developing domestic capital markets through a regional approach, removing constraints on capital...

Persistent link: https://www.econbiz.de/10014396929

Capital market integration : progress ahead of the East African community monetary union

Yabara, Masafumi - 2012

Persistent link: https://www.econbiz.de/10009423914

Financial Sector Reforms and Prospects for Financial Integration in Maghreb Countries

Sole, Juan - 2007

A healthy and dynamic financial sector is essential to achieving high and sustainable economic growth in the Maghreb region-Algeria, Libya, Mauritania, Morocco, and Tunisia. Financial integration within the Maghreb region will help deepen financial markets, increase their efficiency, and enhance...

Persistent link: https://www.econbiz.de/10014400223

Financial Integration in the West African Economic and Monetary Union

Sy, Amadou N. R. - 2006

This study assesses the degree of financial integration in the West African Economic and Monetary Union (WAEMU). The structure of the financial sector and its institutional arrangements indicate that financial integration is well advanced in some aspects. Common and foreign ownership of banks is...

Persistent link: https://www.econbiz.de/10014400515