This paper examines the dynamic patterns of international linkages of the Japanese government bond yields with government bond yields in the US, the UK and Germany during the period from January 1980 to December 2004. Applying the vector autoregression (VAR) model and the vector error correction...

This paper examines whether the geographic distance between subsidiaries of multinational banks and their headquarters is an important factor in determining the performance of the subsidiaries. Using various performance indicators of 340 subsidiaries in 54 emerging and developing economies from...

This paper examines the implications of foreign bank penetration on economic growth from the perspective of resource allocation in host countries. We use aggregate banking data, constructed from bank-level balance sheets and income statement information covering more than 1200 banks in the 35...

The main purpose of this paper is to provide a brief survey for the progress and prospects of regional financial arrangements/cooperation among the East Asian nations and present the summary of various conflicting points of discussion about the strategies on the establishment of an effective...

This paper investigates the impact of communication cost on the FDI activities of multinational corporations (MNCs). First, we provide a theoretical foundation for a gravity-type FDI model, which shows that physical distance and communication technology are important determinants of FDI...

East Asian countries were hit hard by the financial crisis in 1997 and have shown significant and remarkable recovery with far-reaching economic and regulatory reforms since then. A decade later, the Asian countries are suffering again from the on-going global economic crises beginning in the...

This paper examines whether or not Northeast Asia economies, namely, China, Japan, Korea, and Taiwan, can form a currency union, where a single currency and a uniform monetary policy are adopted, or an exchange rate union where all the currencies are pegged to an internal or external currency or...