This article aims at deriving lessons from the Russian financial crisis through examining the root causes of the crisis based on a probit model incorporating 20 monthly macroeconomic and financial sector indicators spanning the period 1988:1 – 1998:8. The results turned out to be as expected....

This study examines the dynamic linkages between crude oil price shocks and stock market returns in 22 emerging economies. The vector autoregression (VAR) analysis is carried on daily data for the period spanned from January 1, 1998 to April 31, 2004. This study utilized the generalized approach...

This article aims at identifying the indicators of the Brazilian real crisis through building a probit model incorporating 20 monthly macroeconomic, political, and financial sector indicators from 1980:1 – 1999:1. Results indicate that the significant variables are inflation (1-month lag),...

The economic structural change in the data of the yen exchange rates to US dollar and to euro is investigated. We analyse the distribution of the residuals which are the differences between the smoothed and original data. The probability density function is well approximated by the Gram-Charlier...

This paper provides further evidence on the synchronization between business cycle regimes in seven American countries by using a classical business cycles approach. Despite recent increasing international economic transactions within this continent, our results suggest that national business...

This paper examines the evidence for seasonal effects and cointegration between fisheries prices of main species landed into Cornwall. This is the first comprehensive study of fisheries seasonality. The results show significant monthly effects in April and negative monthly effects in February....

The study aims to analyze the probability of employment in Turkey after 1990. In Turkey, real cost of labour sharply increases after 1990. It has happened to become the highest in OECD countries. This affects the employment of the firms and the level of employment in the economy. It is also an...

This paper constructs a theoretical model of investment decision abroad supporting the idea that the Multinational Enterprises’ internalization decision is influenced by the capital installation cost. This modification alters MNE’s investment behavior. Using the idea that capital mobility...

While this paper tries to fill a particular niche in the literature on the tax and spend nexus of the public sector, it provides new insights on the causality between public expenditure and public revenue from a small island developing economy perspective. We apply the Johansen technique to...

The paper analyzes the relative influences of US, Japanese and domestic disturbances on domestic fluctuations for the case of Malaysia. Utilizing VAR framework and quarterly data from 1978 to 1999, we focus on their influences on aggregate fluctuations as well as on sectoral cycles. Our results...