In the first era of financial globalization (1880-1914), global capital market integration led to substantial net capital movements from rich to poor economies. The historical experience stands in contrast to the contemporary globalization where gross capital mobility is equally high, but did...

This article examines whether there is a correlation between the government bond markets of Asian countries and those of the USA, and whether the efforts of international organizations to improve bond markets have had any effect in East Asia. Because the sizes of the government bond markets are...

This paper analyses the duration and nature of post-war reconstruction in aid-dependent developing countries. Part I presents a comparative analysis, Part II discusses the post-war reconstruction in Nicaragua, and Part III analyses the case of Mozambique. The main findings are that post-war...

Real price levels are systematically lower in developing countries than in developed countries. This paper provides time series evidence about the effect of financial development on real price level differences for 40 developing countries. Based on cointegration tests, we find a long-run...

This paper integrates two main strands of the aid-development nexus in assessing whether institutional thresholds matter in the effectiveness of foreign aid on institutional development in 53 African countries over the period 1996-2010. Eight government quality indicators are employed: rule of...

We examine the impact of IFRS reporting flexibility on the presentation of income statements after the adoption of IFRS and whether this affects analysts' forecasts. We find that 44.7 percent (42.02 percent) of first-time IFRS adopters exhibit an average marginal increase (decrease) of 2,584...