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This paper studies foreign exchange risk premium using the uncovered interest rate parity framework in a single country context. The analysis is performed using weekly data on foreign and domestic currency deposits in Armenian banking system. The paper provides the results of the simple tests of...

The effects of exchange rate risk have interested researchers, since the collapse of fixed exchange rates. Little consensus exists, however, regarding its effect on exports. Previous studies implicitly assume symmetry. This paper tests the hypothesis of asymmetric effects of exchange rate risk...

This article deals with the analysis of the positive side of the foreign direct investments in the World´s economy. The importance of this research is derived from the significant role that can be played by foreign investments in industrialized and developing countries. Some countries are still...

Southeast Asian industrial exports are facing intense competition from Chinese industrial exports. How much more will competition increase as a result of China's recent accession to the World Trade Organization? Will Indonesia, Malaysia, the Philippines, and Thailand (the ASEAN-4)...

The dramatic rise in international production in recent years stands out as the most decisive factor in the globalization of economic activity. Foreign Direct Investment (FDI) has been growing very rapidly in the recent past while international trade ceased being the principle mechanism linking...

The capitalist welfare state achieved its full development within the nearly closed national economies of the early postwar decades. After the rampant protectionism following the Great Depression, and after the complete breakdown of world markets in World War II, the restoration of international...

Theories of international cooperation (TIC) predict that deeper economic integration raises the costs of policy conflicts and promotes coordination. As the US-EU economy makes up 60 per cent of the world GDP, policymakers on the two sides of the Atlantic are expected to assign highest priority...

[This paper is] a discussion of the transformation of the international monetary system in the period immediately following the adoption of the Bretton Woods agreements. The Bretton Woods architects intended to fashion an international monetary order that would provide maximum autonomy for...

This paper seeks to explain the variance between success and failure of attempts to achieve monetary cooperation and integration in Western Europe. In its first two sections the paper develops six assumptions about international monetary behavior of states and the conditions for monetary...