In this paper, we analyse historical stock market volatility and co-movement behaviour of three emerging markets and three developed economies from January 2001 to December 2012. We find evidence that the sample of emerging economies exhibits higher stock market volatility during the study...

The paper examines the stock markets of 41 countries over a 10 year period from January 1996 to December 2005 using the classical stock synchronicity measure developed by Morck et al. (2000). The study finds evidence that stock markets in emerging economies are more synchronous than in developed...

This paper analyses stock synchronicity measures proposed by Morck et al (2000), the classical measure and the R square measure. The Study finds evidence that stock markets of emerging economies are more synchronous than the developed economies using both the synchronicity measures. It is found...

Motivated by the rapid spread of novel coronavirus COVID-19 outbreak in the world. This study explores the stock markets' response to the global COVID-19 pandemic in developing countries. We make use of a panel dataset including 685 observations from 13 countries in the Middle East and North...

The present text aims to analyze the New Development Bank (NDB) established by BRICS as part of the group’s financial architecture, focusing on the main motivations for its creation, ways of acting and governance structure. Although focused on providing credit for infrastructure and...

This paper studied whether the complementarity between financial development and foreign aid promotes economic growth in selected emerging markets using the panel Fully Modified Ordinary Least Squares (FMOLS) approach, with data ranging from 1994 to 2014. Although (1) aid-growth and (2)...

We use loan-level data on syndicated lending to a large sample of developing countries between 1993and 2017 to estimate the mobilization effects of multilateral development banks (MDBs), controllingfor a large set of fixed effects. We find evidence of positive and significant direct and...

The paper investigates value and momentum factors in 23 developed international stock markets. We find that typically value and momentum premia are smaller and more negatively correlated for large market capitalization stocks relative to small. Momentum factors are more highly correlated...

We construct a state-dependent trivariate GARCH-M model to extract state-dependent risk-aversion coefficients around the 1997-1999 financial meltdown. These coefficients are further used to decompose sector risk into global (systematic), country-specific (diversifiable through global country...

The purpose of this paper is to develop a pertinent hypothesis whether wealthy economies are likely to have better accounting quality compared to their poor counterparts. Prior literature has suggested that wealthy economies are expected to invest more in the establishment and development of the...