The investment choices of large asset owners such as pension funds, sovereign wealth funds and endowments, are, to a large extent ‘guided’ and pre-determined by the systematic use of old- fashioned indices or benchmarks designed by a small set of Anglo- American ‘index providers’ –...

This article examines how the interdependence of three Central and Eastern European (CEE) stock markets, represented by the stock indices LJSEX (Slovenia), PX (Czech Republic) and BUX (Hungary), and some developed European stock markets (Austria, represented by the ATX; France, represented by...

This paper investigates the impact of international swap lines on stock returns using data from banks in emerging markets. The analysis shows that swap lines by the Swiss National Bank (SNB) had a positive impact on bank stocks in Central and Eastern Europe. It then highlights the importance of...

This paper investigates the impact of international swap lines on stock returns using data from banks in emerging markets. The analysis shows that swap lines by the Swiss National Bank (SNB) had a positive impact on bank stocks in Central and Eastern Europe. It then highlights the importance of...

The onset of the US credit crisis in 2008, and its rapid globalization induced the FED to extend unprecedented swap-lines of 30 billion dollars to four emerging markets, and the proliferation of other cross-countries selective swap arrangements. This paper explores the logic for these...

The onset of the US credit crisis in 2008, and its rapid globalization induced the FED to extend unprecedented swap-lines of 30 billion dollars to four emerging markets, and the proliferation of other cross-countries selective swap arrangements. This paper explores the logic for these...

The primary goal of the paper is to determine the impact of new investment tools on the development of global markets. In this regard, environmental finance is a new and powerful means of stimulating economic growth in emerging financial markets. Environmental finance offer more than just access...

This paper investigates the effect of international swap lines on stock returns using data from banks in emerging markets. The analysis first shows that swap lines by the Swiss National Bank (SNB) had a positive impact on bank stocks in Central and Eastern Europe. It then highlights the...

This study investigates the long-run relationships and short-run dynamic causal linkages between the stock exchange of Egypt and its counterparts in the Group of Seven (G7) countries, prior to and following the tragic events of September 2001, utilizing Johansen's cointegration and variance...

In this paper we outline a Pigovian tax-cum-subsidy scheme that deals with concerns about the costs and efficacy of hoarding international reserves (IR) as a means of self-insurance against a deleveraging crisis. We overview the degree to which IR provided self-insurance to Emerging Markets...