Government agencies that procure goods from abroad typically face various risks, particularly uncertainty over future real prices. Interestingly, the agencies can use a counter-trade transaction to solve the real price problem. Because both sides of a counter-trade deal are real goods, not...

Main description: In 2004, Spain's Banco Santander purchased Britain's Abbey National Bank in a deal valued at fifteen billion dollars--an acquisition that made Santander one of the ten largest financial institutions in the world. Here, Mauro Guillén and Adrian Tschoegl tackle the question of...

Competitiveness in the foreign exchange market depends on both country and firm-specific factors. Country-specific factors in the form of the importance in the foreign exchange market of the home currency and the home regulatory and legal system explain much; of the two the legal and regulatory...

Critics have excoriated the US fast-food industry in general, and McDonald's most particularly, both per se and as a symbol of the United States. However, examining McDonald's internationalization and development abroad suggests that McDonald's and the others of its ilk are sources of...

Currently, foreign banks own the banks that hold about 80 percent of the assets in Mexican banks. The paper argues that this is the third instance in which foreign-owned banks have initially comprised a large part of the Mexican banking system, and that in the first two cases (1865-1910 and...