We study the impact of exchange rate risk upon export production within an emerging economy lacking in currency forward markets. However there exists a financial asset whose price is correlated with the relevant foreign currency. We present conditions under which export production is stimulated...

We study the impact of exchange rate risk upon export production within an emerging economy lacking in currency forward markets. However there exists a financial asset whose price is correlated with the relevant foreign currency. We present conditions under which export production is stimulated...

We study the impact of exchange rate risk upon export production within an emerging economy lacking in currency forward markets. However there exists a financial asset whose price is correlated with the relevant foreign currency. We present conditions under which export production is stimulated...

We study the impact of exchange rate risk upon export production within an emerging economy lacking in currency forward markets. However there exists a financial asset whose price is correlated with the relevant foreign currency. We present conditions under which export production is stimulated...

The paper analyzes the interactions between the precision of information, trade and welfare within a decision framework of an exporting firm. Information in a financial market is described in terms of a publicly observable signal. With higher transparency, the signal conveys more precise...

The paper examines the economic role of market transparency on the decision problems of an international firm. Transparency is described in terms of the informativeness of a publicly observable signal. With higher transparency, the signal conveys more precise information about the random foreign...

Ein wichtiges Ziel der russischen Regierung ist die Modernisierung der Wirtschaft. Aus Sicht deutscher Unternehmen, die bereits in Russland tätig sind, ist der Erfolg dieser Modernisierungsinitiativen jedoch fraglich. Dies ist ein Ergebnis einer Unternehmensbefragung, die im Jahr 2011 von den...

Ein wichtiges Ziel der russischen Regierung ist die Modernisierung der Wirtschaft. Aus Sicht deutscher Unternehmen, die bereits in Russland tätig sind, ist der Erfolg dieser Modernisierungsinitiativen jedoch fraglich. Dies ist ein Ergebnis einer Unternehmensbefragung, die im Jahr 2011 von den...

The purpose of this paper is to assess under what conditions exchange rate volatility exerts a positive effect on a firm's labour demand. As the exchange rate volatility increases, so does the value of the export option provided the firm under study is flexible. Flexibility is important because...

In this paper we study the impact of more transparency in the interbank market on the volume of bank intermediated loans and on the profitability of the banking business. Transparency is modeled by means of the informational content of publicly observable signals correlated to the random...