This five-chapter introduction into international money and foreign exchange markets covers all the basics, theoretical, institutional, as well as empirical. After a brief review of the money market, we discuss the size and structure of the foreign exchange markets. This information is then used...

A recent report from the Center for Economic Policy Research (CEPR) has advocated that fixed conversion rates for the start of EMU should be preannounced as soon as possible. The aim of this short paper is to focus on the potential dangers of such a decision. Indeed, the CEPR report propositions...

Arrangements (agreements, contracts, projects, etc.) are widespread economic events and are the fundamental concept of the economic theory. Infringements (breaches, modifications, changes, etc.) of arrangements are common and have a significant importance for the economic theory. For many years...

Dollarization is becoming a viable option for a number of countries, but the loss of seigniorage is a major obstacle. The paper looks at the major seigniorage sharing arrangements available and issues that arise in the design of the new arrangements.

A major and long-standing focus of scholarly research in the international business area is the identification and evaluation of the determinants of the location of international production. Empirical studies are primarily carried out at the country and industry levels and generally concentrate...

The paper compares the costs and benefits of dollarization for the dollarizing country and the 'anchor' country.

This paper examines the statistical importance of governance infrastructure as a determinant of U.S. foreign direct investment. In broad terms, governance infrastructure represents attributes of legislation, regulation, and legal systems that condition freedom of transacting, security of...