This paper studies dynamic relation, namely, two currencies of Korean won and Japanese yen, before and after the East Asian financial crisis of the late 1990s. We conjecture that there exists a long-run relation between won and yen, which is characterized by a band-reverting-type dynamic...

Yield spreads on sovereign bonds represent market expectations for the economic performance of issuing countries. In the international financial market, yield spreads also reflect the extent to which the issuing countries are integrated into the global market. We analyze market integration and...

High food prices can be an immediate threat to household food security, undermining population health, retarding human development, and lowering labor productivity for the economy in the long term. We employ a panel dataset covering 63 developing countries from 2001 to 2010 to make a...