This paper provides some empirical evidence on the relationship between the volatility and quot;opennessquot; of emerging stock markets (ESMs). The primary null hypothesis of this research is that volatility is not correlated with openness. The study uses a factor analysis to condense the number...

This study uses international asset pricing models to investigate the link between the quality of government institutions and the performance of global stock markets. The results demonstrate a significant positive association between stock market performance measures and the quality of the...

This paper examines the relationship between international capital flows and the opacity of recipient countries. We use Price Waterhouse Coopers (PWC) (2001) opacity index for the year 2000 and investigate its influence on three types of net international capital flows: foreign direct...

This study examines the relationship between financial market segmentation and political risk. Financial economists have attributed market segmentation to factors such as foreign exchange risk, taxes, tariffs and capital controls whereas the influence of political risk has been largely ignored....

This paper examines the trend towards regionalism upon stock market returns in Latin America. Average correlations with other countries in the region and with the world suggest that the Latin American stock markets have become more regionally integrated over the study period. This finding...

The purpose of this paper is to examine the causality between DUST, CO2 and temperature for the Vostok ice core data series [Vostok Data Series], dating from 420 000 years ago, and the EPICA C Dome data going back 800 000 years. In addition, the time-varying volatility and coefficient of...

With unemployment in the Eurozone running at over 10%, with some countries like Spain and Greece experiencing in excess of 45% youth unemployment, the loss in potential economic growth is huge. This is coupled with high unemployment's damaging social cost which brings depravity to millions. The...

The purpose of this research note is to re-examine the link between economic freedom and economic growth because the connection has been massively over played in the past 35 years, using a sample of 175 countries. Answering this question has important socioeconomic policy implications as...

The purpose of this paper is to develop a valuation model for projects, explicitly taking into account the combined effects of taxation and the risk of obsolescence. In the modelling process it is assumed that a project's pre-tax net operating cash flows follow a geometric Brownian motion with a...

The paper features an analysis of causal relations between the VIX, S&P500, and the realised volatility (RV) of the S&P500 sampled at 5 minute intervals, plus the application of an Artificial Neural Network (ANN) model to forecast the VIX. Causal relations are analysed using the recently...