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We empirically test the dependence of the Russian stock market on the world stock market and world oil prices in the … well as two markets outside Europe (Turkey and South Africa). We apply a rolling regression to identify periods when oil … prices or stock indices in the US and Japan were important. Surprisingly, oil prices are not significant for the Russian …
Persistent link: https://www.econbiz.de/10012148690
The unravelling of the Middle-East peace process continues to baffle the pundits. The early optimism of the Oslo peace accord has now turned into despair. Prime minister Rabin was assassinated by a Jewish extremist. The Palestinians have embarked on a new Intifada. And Israel has re-occupied...
Persistent link: https://www.econbiz.de/10011644923
Over the past century, Israel has been transformed from an agricultural colony, to a welfare-warfare state, to a globally integrated “market economy” characterised by great income disparities. What lies behind this transformation? Why the shift in emphasis from “war profits” to “peace...
Persistent link: https://www.econbiz.de/10011646687
The purpose of this article is to offer an alternative analytical framework for understanding the long term transformation in Israel. First, we argue against the conventional separation between the “political system” and the “economic system.” This separationist approach has been popular...
Persistent link: https://www.econbiz.de/10011646694
A theoretical and historical account of the global political economy of oil, armament and capital accumulation in the …
Persistent link: https://www.econbiz.de/10011646695
This paper examines the relationships between the Russian and other Central European (CE) and developed countries' equity markets over the 1995-2004 period.Along with the traditional Johansen and Juselius (1990) multivariate cointegration tests, we apply novel cointegration approaches, including...
Persistent link: https://www.econbiz.de/10012148495
Corporate social responsibility (CSR) is increasingly a core component of corporate strategy in the global economy. In recent years its importance has become even greater, primarily because of the financial scandals, investors’ losses, and reputational damage to listed companies. While...
Persistent link: https://www.econbiz.de/10010292298
This article contributes to the literature on macroeconomic announcements and their impact on asset prices by investigating how the 15-second Xetra DAX returns reflect the monthly announcements of the two best known business cycle forecasts for Germany, i.e. the ifo Business Climate Index and...
Persistent link: https://www.econbiz.de/10010298727
Extensive research has been conducted on the economics of standards in the last three decades. To date, standard-setting studies emphasize a superior role of demand-side-driven technology diffusion; these contributions assume the evolution of a user-driven momentum and network externalities. We...
Persistent link: https://www.econbiz.de/10010298847
We examine the effect of one of the presumably most powerful cartels ever on the profitability of its members. More precisely, we consider the Rhenish-Westphalian Coal Syndicate, a coal cartel that operated in Imperial Germany in the late 19th and early 20th century, using a newly constructed...
Persistent link: https://www.econbiz.de/10010266957