None of the 14 Pacific Island countries (PICs), except Papua New Guinea has any fossil fuel resources. Consequently, all the 13 PICs are totally dependent on oil imports for their economic activities. Recent surges in oil prices have had serious economic repercussions on economic growth. This...

This study investigates the role of currency order flow in explaining the emerging Asian markets' exchange rates relying on linear and nonlinear modeling. The daily currency order flow of the US dollar relative to the nine important Asian currencies is constituted and explored with the...

This paper examines liquidity in the banking system under a fixed exchange rate regime. By employing two measurement procedures, it is found during last 15-year period (1994-2008) and particularly, in recent months, there have been large fluctuations in liquidity. They are partly influenced by...