This study seeks to address a number of rising policy concerns from the aftermath of the recent subprime crisis. Did foreign bank lending decline sharply and transmit the financial shocks from the advanced economies to the SEACEN emerging markets? Was the decline driven by the drying-up in...

After the first Asian currency crisis, a financial turmoil has recently dragged the global economy along for the ride. We propose a roadmap for strengthening financial architecture in East Asia in confirming a scope for deeper monetary integration on the basis of their symmetry in macroeconomic...

This study investigates the market interdependence among the Dow Jones (USA), Nikkei225 (Japan), and KOSPI200 (Korea) index futures markets from May 2002 to July 2009, which is divided into three distinct periods: the normal growth, accelerated growth and declining growth (crisis) periods. We...

A recursive regression methodology is used to analyze the bubble characteristics of various financial time series during the subprime crisis. The methods provide a technology for identifying bubble behavior and consistent dating of their origination and collapse. Seven relevant financial series...

Minsky was not the faithful interpreter of iThe General Theory/i that he supposed himself to be: he applied Keynes's economics to a system with upward instability, intrinsically prone to overindebtedness and overinvestment. From this perspective, Minsky had the indisputable merit of questioning...

The financial crisis profoundly affected the USA economy, highlighting many problems related to the five management systems of financial institutions. But the most important aspect that influenced the dramatic evolution of these institutions in the last few years was the inadequate management...

Derivatives are designed as complex financial instruments and their main aim is to manage the risk associated with the underlying asset, in order to ensure against fluctuations in value, or to profit from periods of inactivity, instability or decline. In recent years financial derivatives have...

When the subprime crisis broke out in the summer of 2007, the hedge funds avoided blame by disassociating from those that supplied the subprime-backed products and by disappearing among those that bought these products. This twofold defense strategy has worked to perfection because almost...

The subprime crisis was largely unanticipated as the efficient market hypothesis held sway and the Gaussian techniques used to rate collateralized debt obligations were assumed to have diversified risk and reduced systemic risk. However, as this paper argues, many of the shortcomings stemming...

Purpose – The purpose of this paper is to examine the effects of the current global crisis on the integration and co-movements of selected stock index futures markets. Design/methodology/approach – Time series techniques of cointegration and weekly data covering the period from January 2001...