The central objective of this paper is to empirically evaluate the degree of linkages among East Asian equity and bond markets. The primary contribution of our paper to the empirical literature is that we use a financial gravity model grounded in economic theory. Using data from the...

We investigate the determinants of emerging markets performance during five U.S. Federal Reserve monetary tightening and easing cycles during 2004-2023. We study how macroeconomic and institutional conditions of an Emerging Market (EM) at the beginning of a cycle explain EM resilience during...

A large empirical literature finds that financial development is beneficial for economic growth, although some recent evidence suggests otherwise. We contribute to the finance-growth literature by examining the role of credit growth skewness and long-run growth. Earlier literature found that...

A large empirical literature finds that financial development is beneficial for economic growth, although some recent evidence suggests otherwise. We contribute to the finance-growth literature by examining the role of credit growth skewness and long-run growth. Earlier literature found that...

A large empirical literature finds that financial development is beneficial for economic growth, although some recent evidence suggests otherwise. We contribute to the finance–growth literature by examining the role of credit growth skewness and long-run growth. Earlier literature found that...

In this paper, we examine the role of export promotion agencies (EPAs) in promoting exports from Japan and Korea. Looking at two home countries enables us to tackle endogeneity issues by controlling for both country-pair time-invariant characteristics and importing country time-varying...

In the postwar era, economic interaction and integration among Western European countries has grown rapidly. We examine whether those close and growing linkages have led to inter-country income convergence in Western Europe during 1960-2000. We find clear empirical evidence of convergence. This...

The Association of Southeast Asian Nations ( ASEAN), which celebrated its 30th anniversary in 1997, has enjoyed remarkable success as a forum for polit - ical cooperation among the states of Southeast Asia. The challenge for ASEAN now is to replicate its political success in the sphere of...

The European Union (EU) has traditionally been an important economic partner for Asia. In addition to absorbing a significant share of the region’s exports, the EU has been a major source of foreign direct investment and other capital flows into the region. In light of such close economic...

This paper evaluates the prospect of a possible unification between People’s Republic of China (Mainland China) and Republic of China (Taiwan) from a multi-dimensional perspective which encompasses the political, social, economic, and technological dimensions. The underlying idea is to...