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This paper assesses the response of a set of emerging markets' domestic interest rates to the US monetary policy surprises within a dynamic framework. Monthly data from Algeria, Bahrain, Israel, Jordan, Kuwait, Tunisia and Turkey for the 1989:03 to 2005:12 period reveal positive effects of the...
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Free trade and customs union agreements are the rage. Hundreds of bilateral and regional free trade agreements have been notified to the World Trade Organization (WTO), which in theory quot;regulatesquot; them under Article XXIV of the General Agreement on Tariffs and Trade (GATT).1 For example,...
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