Due to growing skepticism over the globalisation process across countries, economists in the emerging market economies (EMEs) are anxious to know how the integration of financial markets was associated with the recent global crisis and whether there could be some key lessons for the broader...

We present new evidence on the use of leverage by hedge funds and on how this changed following Russia’s default and the near failure of Long-Term Capital Management in the summer and fall of 1998. We use regression techniques and survey data to analyze how leverage varies with fund...

This study offers an empirical microlevel analysis of the pass-through effects of the East African Community Common External Tariff on consumer prices in Kenya. Using data from the Kenya Integrated Household Budget Surveys conducted in 2005 and 2015, this research employs a fixed-effects model...

This paper examines synchronization in the euro area and the role of intra-EMU trade from 1981 to 2011, focusing in particular on southern European countries. The results indicate that the intensification of synchronisation that occurred in the nineties across almost all countries could...

The case of Switzerland appears to be unique with regard to the European Economic and Monetary Integration Process which began in 1957: even though the country has cultivated close ties and growing links with the European Union (EU) over time, it does not desire full membership. If this...

Since the Chinese government launched the economic reform and “open door” policies in late 1978, investment between Hong Kong and Mainland China has increased remarkably. In fact, Hong Kong has been the Mainland’s dominant supplier of FDI. Income distribution in Hong Kong was affected when...

This paper takes seriously the recent claim made by Ethier (1998) that the New Regionalism reflects the success of the multilateral trading system, not its failure. In fact, the New Regionalism represents a qualitative departure of the old regionalism in several respects, in particular, its...

The aim of this paper is to analyse how a process of economic integration between two adjacent countries with different transport costs (different levels of development) affects firms’ decisions on location and prices. Considering the situation where one firm is located in each country and...

Protection of the Single Market, monetary integration, institutional and pol - icy reform, as well as enlargement are hot topics in the European Union. This article considers only the economic dimension of the enlargement. Five coun - tries with economies in transition (the Czech Republic,...

The economic implications and the income distribution effects of the customs union (CU) between Turkey and the European Union (EU) have been studied by applying a general equilibrium model to the Turkish economy under alter - native hypotheses for the labour market. The numerical results show...