Several transition countries have experienced strong real exchange rate appreciations. This paper tests the hypothesis that these appreciations reflect underlying productivity gains in the tradable sector. Using panel data over the period 1993–98, the results show clear evidence of...

The most recent financial crisis had many effects during the last year. Majority of the existing companies, worldwide, were harmfully influenced by it. More important, professions and economies were shocked by the crisis. Romania is no exception from the

This paper sets out to present a vision on the essence of the current economic crisis, proven through the causes, and especially through the consequences to be both somehow different but especially something else with regard to the usual alignments of Eco

The finance lease is, from a financial point of view, an alternative to bank loans. The residual value is a basic parameter of the finance lease contract. It is set out according to the depreciation and amortization manner of the asset subject matter of t

This study tests for the sustainability of current account deficits for a sample of twenty six African countries. For this purpose, a new test procedure advocated by Pedroni is employed which allows one to test for cointegration between exports and imports in heterogeneous panel datasets. This...

The recent financial crises in several emerging market economies only confirm that a satisfactory explanation of financial and currency crises remain elusive. The first-generation crisis model pioneered by Krugman is no longer compelling as many of the actual crises seem to lack the crucial...

This paper investigates the behaviour, from October 1999 to May 2001, of spreads on sovereign debt issuance from 15 countries located in Asia, Latin America and Eastern Europe using a homogeneous secondary market database. The research integrates standard Principal Components Analysis procedures...

Notwithstanding the effects of the expansive policies in the advanced economies, due to the 2008 financial crises, could raise their interest rates, generating a crowding-out effect over emerging market debt, this relation could not hold given the better fiscal position of these economies, such...

This paper examines a process of order submissions and cancellations in the interbank order driven market of the EUR/PLN currency pair. Our contribution to the existing literature is twofold. We generalize the Asymmetric ACD model (AACD) of Bauwens & Giot (2003) with respect to more than two...

This paper borrows from network analysis to study the impact of trade and financial integrations on output drop during the 2008-2009 crisis. Using network analysis, I show that international trade and financial linkages have different effects on economic activity. Relationships involving the...