Economists have frequently argued that the money supply is endogenously determined. However, monetary regimes differ in important institutional respects and it may be that endogeneity may be true for some regimes and not for others. This paper tests for endogeneity of money supply in the G7...

This article seeks to analyse the major determinants of differences in the domestic savings ratio between countries using panel data for 62 countries over the period 1967—95. A basic distinction is made between the determinants of the capacity to save and the willingness to save. The capacity...

Empirical work based on portfolio theories of the demand for money traditionally treat the quantity of money demanded as the outcome of a decision to allocate a fixed amount of wealth. By contrast, this paper argues that people commonly hold money at the same time that they borrow. Thus changes...

This paper develops a simple model of foreign debt portfolio management. The model suggests that, under mild conditions, the currency composition of a country's foreign debt portfolio is responsive to exchange rate movements. Empirical evidence is provided for a panel of 14 emerging economies in...

This book of readings provides fruitful policy recommendations on various financial development issues in the Arab World such as operational efficiency and service quality in banking. It also examines different aspects related to stock markets development such as efficiency, volatility, hedging,...

The paper estimates the profit efficiency of 16 banks operating in the Kingdom of Bahrain. The paper compares the efficiency of Islamic banks with their conventional counterparts using the stochastic frontier analysis.

The port industry has undergone a rationalization process over the last decade. An increasing proportion of port management and operations is being taken over by global port operating groups. Many port operators who previously ran only their local business now extend their business scope to the...