In the wake of monetary unification euro area bond and equitymarkets have become increasingly integrated. As an evidence of integration in those markets, the volume of international financial asset trading increased considerably. Nevertheless, the substantial decline in home bias among the...

This paper analyzes the de-facto integration in some Emerging Market Economies based on behavior of deviations from Covered Interest Parities in the last 10 years. It tests for modified market efficiency conditions in the presence of real world frictions and arrives at a single measure of...

The present paper examines the dynamic effects of volatility spillovers and dominant role (the second-moment) of the US, Japan and Hong Kong in the East Asian equity markets. To evaluate the recent September 11 (911) impact, two sub periods – before and after the tragedy, are being considered...

Motivated by the increased importance of foreign bank entry, this paper takes a look at the issue from the perspective of both foreign entrants and the host country. What are the conditions that make the host country market attractive to foreign entrants? What changes in the home country...

This paper addresses Ihe new-orthodox view that the choice of exchange rate regime lias been hollowed out to a choice between the two comer solutions of firmly fixed and more or less freely floating exchange rates. While conceding that both these regimes have an advantage over intermediate...

While high interest rates and foreign exchange sales are the most common way of dealing with a speculative attack in the foreign exchange market, several countries resorted to capital controls during recent periods of currency market turbulence. The purpose of this study is to use daily...

In this paper, we investigate the financial linkages between the East Asian countries with Japan and the US using the real interest rate parity (RIP) condition. This study offers three important results: first, we find strong (robust) evidence that RIP condition holds in all the Asian countries,...

Despite the strategic importance of small projects in the development process in developing countries, including the Libyan economy, but they face many economic problems, administrative and organizational productivity, marketing and other problems related to lack of information, working to...

This paper discusses the economic performance of Latin America in the last decade, paying special attention to growth and the financial sector. In particular, it shows that external factors, such as like U.S. interest rates and the business cycle, play a key role in capital inflows, investment,...

As a result of the adhesion of our country to the European Union, the adaptation of the EC financial-accounting legislation has emerged as a necessity, new settlements starting to apply with the beginning of the financial exercise 2006. The improvement of the Romanian accounting system has as a...