This paper explores the poverty impact of Vietnam’s trade liberalisation over the 1990s and asks how well they could have been predicted from prior data. We identify policy changes and their major effects on trade and prices. We then seek the effects of these changes in a panel comprising...

International economic integration has been a central policy goal for the Vietnam government since the doi moi reform was initiated in 1986. We explore the Vietnamese increasing integration into the world market and bouts of high inflation. Five price transmission models using three levels of...

We employ the econometric techniques of multivariate cointegration and error-correction models to investigate the impact of the creation of the European Monetary System (EMS) on the volume of intra-European Union (EU) exports for eight EU countries. We find that for Ireland the EMS boosted the...

The eurozone is the crown jewel in the process of European integration. This monetary zone includes the most advanced integration grouping of countries in the European Union. The eurozone has been expanding the number of its participants, a sign of success in any economic or political union....

In this paper we present an intertemporal model of the spot and forward markets for foreign exchange. We analyze the implications of central bank interventions on the spot market for the risk premium in the currency forward market and discuss the consequences for the allocation of exchange rate...

Under the assumption that the balance of payments must satisfy the expected intertemporal balance, this paper seeks to establish a pre-condition for a crisis of the Exchange Rate Mechanism (ERM). Proposing that non-stationarity of the growth rate of assets is evidence of a violation of expected...

In this paper, we investigated the impact of the creation of the European Monetary System (EMS) on the exports of the four largest EU countries (France, Germany, Italy and UK) to each other. Our findings suggest that the EMS boosted bilateral trade in the cases of Germany 's exports to Italy and...

This paper studies the impact of real effective exchange rate volatility on economic growth as well as the euro’s impact on real effective exchange rate volatility. We first show that after a plausible endogeneity correction, real effective exchange rate volatility is negatively associated...

Currently, the European Union is negotiating an free trade agreement, called Economic Partnership Agreement (EPA), with Caribbean countries as part of the Cotonou Agreement between the European Union and African, Caribbean and Pacific countries. The paper empirically assesses the impact of the...

This paper assesses the potential effects from trade facilitation in terms of increased trade flows both on average and specifically for the six regional groups of ACP countries negotiating Economic Partnership Agreements (EPAs) with the EU. Data from the World Bank’s Doing Business Database...