Background: Personal Protective Equipment supply chains encountered severe shortages during the 2020 COVID-19 pandemic. Many manufacturers are located in China, the first country that issued lockdowns, and Personal Protective Equipment inventories, managed by the Just in Time policy, were...

This paper develops an asset-pricing model to evaluate the credibility of Hong Kong's Linked Exchange Rate System (LERS). Allowing for imperfect peg credibility, we derive closed-form solutions for exchange rates and option prices under potential regime shifts. Using HKD option data, we estimate...

Family-owned firms account for majority of small and medium-sized enterprises (SMEs) in Arab countries, but evidence on the impact of this ownership type on access to credit in the region is scarce. Yet the issue is key for understanding barriers to the emergence of dynamic private sector and...