The growth of the financial sector of an economy such as, the stock market is usually found to be highly correlated with the growth of the real sector of an economy. In this study, we make an attempt to investigate whether there is any significant relationship between the stock prices,...

This paper aims to examine the impact of changes in the Chinese renminbi (RMB) exchange rate against the United States (US) dollar on the ASEAN5 countries’ exports to the US. The Johansen cointegration test and Ordinary Least Square (OLS) regression are applied. The cointegration tests show...

As the economies of Asian have moved towards closer economic ties in recent years, the establishment of regional exchange rate arrangement has become an important regional policy concern. A study by the Asian Development Bank forecast that Asian will be the world's largest economy by 2050....

This paper empirically investigates the impact of exchange rate volatility on the real exports in India using the ARDL bounds testing procedure proposed by Pesaran et al. (2001). Using annual time series data, the empirical analyses has been carried out for the period 1970 to 2011. The study...

This research paper empirically examines the impact of real exchange rate volatility on trade in the context of South Africa’s exports to the U.S. for the South Africa’s floating period January 1995-February 2007. In measuring real exchange rate volatility, this study utilised GARCH. After...

The article compares the market openness of Brazil, Russia, India and China with the one of the Central and Eastern European countries. The comparison is performed in relative terms in the form of a basic/visual examination of openness to foreign trade and investment and as an identification of...

We examine the equilibrium and adjustment of exchange rates in the Chinese silver standard economy, 1928–1935. We find a robust long-run relationship between the Chinese dollar exchange rate and the metallic value of the Chinese dollar. The deviation from the equilibrium is short-lived and is...

Conventional monetary theory suggests that a closed system banking regime may lead to a systematic and uniform over-expansion of circulation. However, Selgin (2001, 2010) argues that as the number of banks increases, they act much as a “chain gang” does, making coordination all the more...

Conventional monetary theory suggests that a closed system banking regime may lead to in-concert overexpansions of circulation by its banks. However, Selgin (2001, 2010) argues that this is unlikely as long as there are enough banks to ensure (i) routine interbank settlement and (ii) no...

The present paper examines whether six of the new European Union member states -the six Central and Eastern European Countries- form an optimum currency area (OCA) with the eurozone. The study applies the theory of Generalized Purchasing Power Parity, which analyses the behavior of the long-run...