This paper assesses the importance of financial development and R&D spending for exports using both a theoretical model and econometric testing. It is shown that financial development and R&D expenditures are positively related to exports and the balance of manufactured goods. The results...

This study examines the relationship between JPY/USD futures trading activities and foreign exchange intervention by the Bank of Japan from 1991 through 2000. It finds that there is a positive relationship between JPY/USD futures volume and volatility as predicted by the mixture of distribution...