Foreign Direct Investment (FDI) has been spreading across the globe. It evolved from a trickle in history to what appears as a spectacle in the modern world. No model is yet available, beyond common sense to account for its centrality in the global process. We can now chart a generalization...

Purpose -The purpose of this paper is to model the components of credit risk in primary debt markets and evaluate changes in these factors in times of crisis. Design/methodology/approach - The authors use a unique dataset consisting of nearly 163,000 new loans and bond issues in the USA and...

In this paper, we solve two problems related to growth and survival probability maximization of an economy. We assume that the problems are subject to the stochastic net worth model introduced by Fleming and Stein (2004) and apply the techniques of stochastic optimal control theory in order to...

In light of the unprecedented developments in the financial sectors of developed economies in the years 2008-2009 and in view of the current political Arab upheaval, this paper reviews the pros and cons of financial integration of the South-Mediterranean region. Our analyses includes Morocco,...

The following sections are included:Edgeworth Production BoxIntegrated World Economy DiagramIS-LM-BP DiagramLerner DiagramOffer Curve DiagramSpecific-Factors ModelTariff in Partial EquilibriumTrade and Transformation Curve Diagram

The following sections are included:Arguments for ProtectionCentral BanksCountertradeCountry GroupsCrisesDevelopment BanksEffectsEmpirical FindingsExchange RegimesFragmentation: Terms and TypesGATT and WTO MinisterialsGATT ArticlesIndexesInternational Classification SystemsInternational...

The following sections are included:Balance of tradeBarter terms of tradeCES functionComparative advantageContinuum of goodsCurrency areaDiversification coneDUP activityDutch diseaseEdgeworth-Bowley boxFactoral terms of tradeFragmentationGrexitImmiserizing growthIncome terms of tradeLaw of...

The following sections are included:A–Z0–9

The aim of this paper is to evaluate the significance of the valuation effect in determining the dynamics of the net international investment position of CEE economies. For this purpose an analysis of BoP and IIP time series for the four largest CEE economies (Poland, the Czech Republic, Hungary...

I build a symmetric two-country model that incorporates nominal rigidities, local-currency pricing and monopolistic competition distorting the goods markets. The model is similar to the framework developed in Martínez-García and Søndergaard (2008a, 2008b), but it also introduces frictions in...