This study is concerned with investigating the structural relationship between stockmarkets and economic variables in different countries. In investigating the relationships, the following six questions are posed:- Are stock markets in the United States, the United Kingdom, West Germany, France,...

In July 1944, representatives of the Allied nations gathered in BrettonWoods, New Hampshire and signed an agreement to rebuild the internationalmonetary system. From 1946 until August 15, 1971, major currencies were fixed tothe US dollar, and the dollar was, at the same time, convertible to gold...

This thesis seeks to develop an alternative conceptual framework through which to understand international finance. It then applies this framework to the case of China’s recent official foreign exchange accumulation. One view of international financial relations suggests an agendaof...

My dissertation consists of three essays on international capital flows. In the first essay, titled "Do small firms benefit more from foreign portfolio investment? Evidence from a Natural Experiment," I test whether an increase in the supply of foreign portfolio capital benefits small firms by...

In this dissertation, I further explore the role of the entrepreneurial sector in creating frictions in the economy. I examine the combined effect of private information and entrepreneurial risk aversion on the dynamics of a general equilibrium macroeconomic model. I analyze the impact of these...

This dissertation studies two issues in empirical analysis of financial markets: The herd behavior in global markets and illiquidity as a risk factor to predict excess stock returns in international markets. These issues are structured into two essays.Essay #1 examines investors’ herding...

This thesis analyzes the nature of foreign equity trades in relation to their effectson local markets. My goal is to contribute to the understanding of equity flows of foreign investors and their effect on the local markets. The thesis consists of twochapters, both of which employ a novel data...

Most financial institutions have not been successful at internationalisation, with some being remarkably unsuccessful. There are fewer occurrences of cross-border mergers and acquisitions than in most other industries. Foreign financial institutions tend to underperform relative to domestic...

This dissertation contains two essays that use empirical techniques to shed light on open questions in the asset pricing literature. In the first essay, I investigate whether foreign institutional investors affect stock liquidity in domestic equity markets. The evidence indicates that stocks...