Formal remittance flows to Pakistan have shown noticeable growth over the past decade. Using bilateral remittance data for 23 major source countries, this study examines the external and internal factors driving these remittance flows during the period 2001-2011. We estimate a gravity model for...

By estimating the correlation coefficients values we compare in this study the diversification potential of the different foreign equity markets and commodities. We present the findings that reflect the perspective of Polish investor. Our results are following: we identify a significant...

The Central and Eastern European (CEE) capital markets (of Poland, Lithuania, Latvia, Estonia, the Czech Republic, Slovakia, Hungary, Ukraine and, to a limited extent, Belarus) are gradually evolving towards increased breadth (diversity) and depth (liquidity), however, they are still exposed to...

This paper argues that the loose monetary policy of two of the world's most important financial institutions-the US Federal Reserve Board and the European Central Bank-were ultimately responsible for the outburst of global financial crisis of 2008 - 09. Unusually low interest rates in 2001 - 05...

This paper presents an empirical investigation of the determinants of current account imbalance for the large sample of developed, emerging and developing countries during 1980-2011. Using dynamic panel GMM techniques, this study characterizes that current account balance is positively...

This study assesses the effect of globalisation on governance in 51 African countries for the period 1996-2011. Ten bundled and unbundled governance indicators and four globalisation variables are used. The empirical evidence is based on Generalised Method of Moments. The following findings are...

China has taken first steps hinting at an internationalization of the Renminbi: The country has begun cautious action for opening up its capital account and allowed currency fluctuations within a certain limit between 2005 and 2008. Promoting Hong Kong as a test center for the Renminbi's...

Weltweit erreichen Überweisungen von Migranten in ihr Heimatland (Remittances) ein Ausmaß, das die offizielle Entwicklungshilfe übersteigt. Nach Angaben der Weltbank ist Deutschland mit mehr als 10 Mrd. US-Dollar im Jahr 2004 eines der bedeutendsten Herkunftsländer. Aus der Sicht der...

China hat erste Schritte unternommen, die auf eine Internationalisierung des Renminbi hindeuten. So hat das Land vorsichtige Maßnahmen zur Öffnung der Kapitalbilanz getroffen und 2005 Währungsschwankungen innerhalb einer engen Bandbreite zugelassen. Die Nutzung von Hongkong als Prüfstein...

This paper analyzes the role of contagion in the currency crises in emerging markets during the 1990s. It employs a non-linear Markov-switching model to conduct a systematic comparison and evaluation of three distinct causes of currency crises: contagion, weak economic fundamentals, and...