In this study it is attempted to estimate the amount of speculation in foreign exchange market.

This paper analyses whether there has been an increase in the degree of financial market integration during the nineties. To do this, we focus on stock markets and compute, first, a number of standard measures of co-movements that sometimes are interpreted as measures of financial integration....

Evaluating credit risk is an important task for financial institution managers. In order to measure the risk pertaining to the borrower, these institutions often use a rating system to establish the credit risk. In this study, a multicriterion approach was chosen to elaborate a rating system for...

This paper investigates the evolution of the (conditional) volatility of returns on three Scandinavian markets (Finland, Norway and Sweden) over the turbulent period of the past decade, namely the overlapping periods of financial liberalisation, drastically changing macroeconomic conditions and...

This paper investigates the views of electronic money operators and innovators on the possibilities and implications of e-money, especially with respect to replacing central bank money as well as technical issues regarding e-money, its implications for the financial industry and central banking....

Offshore Finance Centres (OFCs) have proliferated since the 1960s and many small jurisdictions and microstates around the world now host OFCs as part of the increasing globalisation of financial capital. This paper argues that microstates are becoming increasing vulnerable to forces outside of...

This paper examines the cost-effectiveness of British regional policy during teh 1930s. It takes issues with Correlli Barnett, who has argued that regional policy measures introduced from 1945 were already shown to be inefficient by the failure of similar assistance during the 1930s.

Il est evident que l'idee selon laquelle un quotidien d'information economique et finnaciere comme Les Echos ou La Tribune est bien, dans le domaine de la gestion sociale en particulier, un vecteur d'information aupres des acteurs surle marche boursier francais, puisque plusieurs effets...

Motivated by relatively recent theoretical contributions on the role played by uncertainty, sunk costs and technological change in influencing entry, exit and industry structure, we conduct an empirical analysis covering 267 U.S. manufacturing industries over the period 1963-1992.