Policymakers imposed constraints on public life in order to contain the Covid-19 pandemic. At the same time, fiscal and monetary policy implemented a large range of of expansionary measures to limit the economic consequences of the pandemic and stimulate the recovery. In this paper, we assess...

The paper uses a panel VAR framework to estimate the impact of a series of reforms aimed at reducing transactions cost and information cost in India’s secondary market for equity, on trading cost and trading volume. In particular, we focus on the reforms that were introduced after the creation...

We investigate the effect of a stock market liberalization on industry growth in emerging markets. Consistent with the view that liberalization reduces financing constraints, we find that industries that are more externally dependent and face better growth opportunities grew faster following...

The aim of the research paper is to present empirical results on a tested framework of factors influencing selected frontier stock markets of the Western Balkan countries in their accession path to the European Union. These stock markets are juxtaposed with the frontier stock mar ket of Bulgaria...

Over the past decade, one popular way for Turkish banks to remove nonperforming loans (NPLs) from their balance sheets has been to sell them to asset management companies. We examine the short-term market reaction to the announcements of such NPL sales over the period 2009-2019. We also consider...

We use the option-based Merton (1974) model to derive the implicit probability of default of 218 banks in 24 emerging economies in the period 1995-2009 from their stock prices. This solvency indicator is well comparable between banks in different countries since it does not require the selection...

The attempt of this article is to fill a gap in the equity trading risk management literature and particularly from the perspective of emerging and illiquid financial markets, such as in the context of the Moroccan stock market. This paper provides real-world risk management techniques and...

This study is the first attempt to investigate stock market returns and liquidity reactions to the announcements of fiscal, monetary, prudential and other COVID-19 policies in 64 countries during 2020. The results reveal generally that financial and economic policies announcements boosted stock...

The purpose of this paper is to explore the spillover effects Japan's negative interest rate policy (NIRP) had on Asian financial markets. Unlike the quantitative and qualitative monetary easing (QQE) without a negative interest rate, the NIRP not only had limited impacts on Japan's economy but...