This paper examines whether futures market data can be used to understand the behavior of real interest rates. Several ways of examining the data indicate that futures market data are not particularly informative about real interest rates. No only does this evidence cast some doubt on results in...

This paper analyzes the Fisher effect in Australia. Initial testing indicates that both interest rates and inflation contain unit roots. Furthermore, there are indications that the variables have non-standard error processes. To overcome problems associated with this and derive the correct small...

This essay argues that financial globalization can be a powerful force in promoting economic growth and the reduction of poverty in emerging market countries. Financial development enables the financial system to allocate capital to its most productive uses and is crucial to the success of an...