This study utilized the cross-sectional independence test established by Pesaran (2004) to identify the existence of common factors in stock markets functioning in Chinese regions. The volatility spillover test of Hafner and Herwartz (2006) based on the Lagrange multiplier (LM) principle was...

This paper applies panel data analysis to examine the influence of short-run dynamics and long-run equilibrium relationships between globalization and the growth of ASEAN countries between 1970 and 2008. We divided globalization into three categories to investigate its impact on economic growth....

This paper examines how international capital mobility can be affected by sterilization activities for seven East Asian economies. We develop a model that shows how sterilization measures by a central bank can lead to a reduction in a country's capital mobility. Using data from 1980 to 2006, we...

For a better understanding of the ongoing debates on the RMB, this paper investigates the effects of exchange rate shocks on output and the current account for China and Japan. We use structural vector auto-regression models and find that yen appreciation reduces current account surpluses while...

Throughout the turbulence in the international financial system, eastern Caribbean countries have enjoyed remarkable monetary and economic stability. This paper attempts to characterize the types of structural shocks in the Eastern Caribbean Currency Union (ECCU) and other countries in the...