Showing 1 - 10 of 31
Persistent link: https://www.econbiz.de/10010301316
Using event study methodology, we investigate whether bilateral investment protection treaties afford protection to foreign investors. Examining arbitral decisions for firms from six countries shows that firms that received awards from arbitrators gained in market value by as much as 3%. Per...
Persistent link: https://www.econbiz.de/10012614232
This paper examines Brada‘s (1998) conjecture about the path of real exchange rates in two successful transition economies, Hungary and Poland. He argues that, as a result of the very diverse fiscal and monetary policies to be found among these economies, real exchange rates in some economies...
Persistent link: https://www.econbiz.de/10010301117
Persistent link: https://www.econbiz.de/10010301125
Persistent link: https://www.econbiz.de/10010301135
This paper critically evaluates the existing empirical literature on creditor moral hazard in sovereign bond markets, proposes a unified theoretical approach to test for IMF-induced creditor moral hazard, and provides empirical evidence, using daily sovereign bond market spreads of Indonesia and...
Persistent link: https://www.econbiz.de/10010301139
In this paper, we examine the reaction of stock market returns and volatility in a diverse group of six emerging markets to a set of IMF events. In particular, we test within a panel framework whether there was an “investor panic” causing a significant drop in stock market returns on the...
Persistent link: https://www.econbiz.de/10010301144
We use rolling cointegration to measure the convergence of base money, M2, the consumer price index and industrial output between two reference countries, Germany and France, and recent EU members and some transition economy candidates. Counties that recently joined the EU exhibit time-varying...
Persistent link: https://www.econbiz.de/10010301149
A consumer-choice model developed by Enders, Sandler and Parise (1992) is utilized to study the regional effects of terrorism on competitors’ market shares in tourism sector where involved countries enjoy significant tourism activities but are subject to high frequency of terrorist attacks....
Persistent link: https://www.econbiz.de/10010301165
This paper reviews the issues concerning the integration of the Baltic States into the European Union (EU). The focus is on fiscal policy and institutions of policy convergence. More specifically, we evaluate the functioning, suitability, and effectiveness of the Maastricht convergence criteria...
Persistent link: https://www.econbiz.de/10010301202