Using a sample of 1154 European firms from 11 countries, we show that firm-levelexchange exposure for Eurozone and non-Eurozone European firms has increased sincethe introduction of the euro, but this rise was smaller for Eurozone than non-Eurozonefirms. The increase in firm-specific exposure...

Before the financial crisis, a number of east Asian economies managed their exchange rates with the aim of stabilising the value of their currency against a basket of key major currencies, but overwhelmingly the US dollar (Frankel and Wei 1994). This suited these economies in the first half of...

The post-World War II world trading system is now more than fifty years old, and not surprisingly, it has evolved through a number of different stages of development and survived a series of perils. Recently, however, the perils seem even greater than before. The failure of the Seattle...

The research in this paper has two objectives. Beginning with an examination of the historical development of how financial reporting standards are set in the United States and around the world, the Financial Accounting Standards Board and the International Accounting Standards Board will be...

Several interesting developments indicate that world attention is increasingly focusing on a "novel" category of trade barriers: non-tariff and non-border barriers. Following the Uruguay Round (the eighth round of negotiations under the General Agreement on Tariffs and Trade, "GATT"), scholars...

Since 2004 there has been a sharp decrease in border protection for the EU rice industry. Because the EU grants trade preferences to a considerable number of rice exporting developing countries, the reform implied preference erosion as well. By addressing the impact of preference erosion on...

Over the time a large number of reciprocal preferential trade agreements (RTAs) have been concluded among countries. Recently many studies have used gravity equations in order to estimate the effect of RTAs on trade flows between partners. These studies report very different estimates since they...

The Linder hypothesis states that countries of similar income per capita should trade more intensely with one another. This hypothesis has attracted substantial research over decades, but the empirical evidence has failed to provide consistent support for it. This paper shows that the reason for...

During the past decades, globalisation in all of its facets dominated many controversial debates of political leaders and common citizens and called the predominant attention of the international press and the scientific community. A major phenomenon in this context is the ongoing...