Capital flight is a major issue in developing economies; the problem is more severe in Africa, where domestic investment has been affected. Much attention has been given to the effect of legal and foreign capital flows in the international capital movement, disregarding illicit capital outflows...

Part of the Polish transformation process has been an opening of the domestic financial market to foreign entrants. While the number of MNBs rises from zero to fifteen within six years, the ratio of bank credit to private and public enterprises relative to GDP decreases continuously after 1991....

The present study aims to analyze the effect of COVID-19 (2019-nCoV) on the Colombian peso market exchange rate between February 16, and March 14, 2020. This period was selected because therein, the pandemic expanded toward South America and the first case was diagnosed in Colombia. Also, during...

This paper provides an overview of recent developments regarding the regulation of competition in Latin America with a special emphasis on the convergence and divergence of the various regimes. It reviews the regulatory framework of competition and addresses the substantive rules applicable to...

Azerbaijani Abstract: Ölkələrin inkişafı maliyyə bazarlarının inkişafına və maliyyə bazarlarının inkişafı da maliyyəalətlərinin inkişafına bağlıdır. Bu mənada Faiz Swap'ı, dünyadakı tətbiq və işləyişi ilə bu inkişafların qabaqcıllarından biri olmaqdadır. Bu...

With the benefit of hindsight it becomes easier to appraise the historical significance and impact of the European revolutions of 1989. By a privileging a global point of view, it becomes possible to leave behind the prevalent perspective of 1989 as a regional transition of Central Europe only....

The continuous debate and research related to High Frequency Trading emphasises the importance of performing analysis on topics associated with the interaction of traders with different trading speeds, and the effects of this interaction on price efficiency and market quality. The aim of this...

In turbulent and volatile markets options can be a preferred asset class for protection against adverse market movements. When volatility increases and markets become sparsely traded, it is not always effective to hedge adverse market movements using any option. Options, where the underlying is...

This paper studies equilibrium uniqueness in multi-asset noisy rational expectations economies with asymmetric information, an extension of Grossman and Stiglitz (1980). We show the existence of a linear equilibrium, and prove its uniqueness among equilibria with any continuous price function....

This paper uses agent-based simulation to analyze how financial markets are affected by market participants with convex incentives, e.g. option-like compensation. We document that convex incentives are associated with (i) higher prices, (ii) larger variations of prices, and (iii) larger bid-ask...