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developed in these markets relative to world markets, based on the dynamic conditional correlation (DCC) model of Engle (2002 … volatility of A-shares has declined over the past decade. We find no asymmetric volatility relative to world markets in China …-share indices have never been correlated with world markets, and B-share indices exhibit a low degree of correlation with Western …
Persistent link: https://www.econbiz.de/10012765963
A growing recent theoretical literature advocates the use of prudential capital control policy, that is, the tightening of restrictions on cross-border capital flows during booms and the relaxation thereof during recessions. We examine the behavior of capital controls in a large number of...
Persistent link: https://www.econbiz.de/10010969320
This paper assesses the effectiveness and associated externalities that arise when macroprudential policies (MPPs) are used to manage international capital flows. Using a sample of up to 139 countries, we examine the impact of eight different MPP measures on cross-border bank flows over the...
Persistent link: https://www.econbiz.de/10010849941
The study of labour migration and remittances is voluminous both in terms of content as well as contesting results. Characteristic of the economics profession, the literature can be put on a scale ranging from ecstatic optimism to morbid disillusionment as far as the effect of migration and...
Persistent link: https://www.econbiz.de/10010850456
This paper reviews the role of climate change vulnerability in identifying least developed countries (LDCs). Taking a sustainable development perspective, it argues that climate change should be seen as an aggravating factor of existing handicaps and many indicators used to identify LDCs already...
Persistent link: https://www.econbiz.de/10010852182
describing the “new world order” coincides with the period of the rising prominence of America in global affairs. Globalization … the world order. The paper therefore suggests a re-examination of the globalization process to make it susceptible to even …
Persistent link: https://www.econbiz.de/10010854555
The paper analyses initiatives undertaken to contain the impact of the sovereign debt crisis and improve economic governance in emu and examines further some fundamental questions about emu’s sustainability looking at emu’s performance for far and at its main strengths and weaknesses. A...
Persistent link: https://www.econbiz.de/10010855026
The article analyses the phenomenon of Euroregions and cross-border co-operation in Ukraine, Republic of Moldova and Romania area in a comparative perspective with the Western European practice. It outlines the expected mission of the “Lower Danube” and “Upper Prut” Euroregions, their...
Persistent link: https://www.econbiz.de/10010859866
Following the Arab-Spring protests, we examine macroeconomic interactions between a productive firm and a rent-seeking government characterized by a continuous probability of regime shift. The model is able to rationalize the early growth leaps witnessed in many Arab economies (the “Social...
Persistent link: https://www.econbiz.de/10010860976
externality for all those (individuals and governments) who care about world poverty. This implies that the existing international …
Persistent link: https://www.econbiz.de/10010861931