This paper attempts to confront various theoretical and empirical approaches to the East Asian currency crisis in 1997, but also with emphasis on two recently dominated literature about East Asian financial crisis. One, strongly supported by Corsetti, et. al (1998) stresses fundamental...

This paper discusses the global financial crisis of 2008/9 in thirteen countries, the ten new EU members that previously were communist and the three countries of Western former Soviet Union. Their problems were excessive current account deficits and private foreign debt, currency mismatches,...

The purpose of this paper is to analyze the various challenges facing European integration and the EU institutional architecture as result of the global financial crisis. The European integration process is not yet complete, both in terms of its content and geographical coverage. It can be...

This paper investigates the spillover of financial crises by studying the dynamics of correlation between eleven Asian and six Latin American stock markets vis-¨¤-vis the US stock market. A regional factor that drives common movements of stock markets in each region is identified for the...

We examine the impact of the global financial crisis on the degree of international income and consumption risk-sharing among industrial economies using returns on cross-border portfolio holdings (e.g., debt, equity, FDI). We split the returns from the net foreign holdings as receipts (inflows)...

This paper empirically investigates the impact of the first announcement of TARP, the announcement of revised TARP, respective capital infusions under TARP–CPP and capital repayments on changes in shareholder value and the risk exposure of supported US banks. Our analysis reveals a light and a...

How to keep Chinese economy’s high growth rate in a long run toward the fully modernized era of China is the major topic of this paper. This letter will develop some theories as a guidance of Chinese economic reforms and development and show the necessary reforms and strategies for long term...

This paper addresses two main questions: first, what is the scope for domestic and external market-based financing of Croatia’s government budget deficit; and second, what is the scope for expansionary fiscal policy in Croatia. Both questions are addressed from a broader Central and Eastern...