The impact that oil shocks have on stock prices in oil exporting countries has implications for both domestic and international investors. We derive the shocks driving oil prices from a fully-identified structural model of the oil market. We study their nonlinear relationship with stock market...

While two different streams of literature exist investigating 1) the relationship between oil prices and emerging market stock prices and 2) the relationship between oil prices and exchange rates, relatively little is known about the dynamic relationship between oil prices, exchange rates and...

We test long-run PPP within a general model of cointegration of linear and nonlinear form. Nonlinear cointegration is tested with rank tests of Breitung (2001). We determine first the order of integration of each variable, using monthly data from the post-Bretton Woods era for G-10 countries. In...

Mobile money has become a lifeline for millions of poor people who have limited access to a formal banking system. It encompasses a wide range of benefits such as women’s empowerment, risk sharing, improved labor market outcomes and reductions in poverty. In this paper, we ask whether mobile...

Using Qatar as a case study, we exploit a novel micro-data set for 102 raw agricultural imported commodities on a shipment-by-shipment basis over the period January 1, 2005 to June 30, 2010. The data comprise over half a million individual observations, with a very rich set of characteristic...

We examine economic convergence among subnational regions of Bangladesh over the period 1992-2013. Absent the traditional gross domestic product (GDP) for subnational areas and building on the recent findings of luminosity literature, we use night lights intensity as a proxy for local economic...

We examine economic convergence among subnational regions of Bangladesh over the period 1992-2013. Unavailability of the traditional gross domestic product (GDP) for subnational areas and building on findings of recent luminosity literature, we use night lights intensity as a proxy for local...