Showing 1 - 10 of 40
In this study, we assess the credibility of the currency board arrangement (CBA) of the Macau Special Administrative Region by studying the relationship between exchange market pressure (EMP) and the anchors of a rule-based CBA, namely, interest rate arbitrage, exchange rate arbitrage and...
Persistent link: https://www.econbiz.de/10005600482
This paper studies the credibility of the currency peg of Cape Verde (CV) by assessing the impact of economic fundamentals, our explanatory variables, on the stochastic properties of Exchange Market Pressure (EMP), the dependent variable, using EGARCH-M models. Our EMP descriptive analysis finds...
Persistent link: https://www.econbiz.de/10012732953
We assess the determinants of Chinese direct investment in Africa compared with those of global FDI. We find that economic size and macroeconomic stability are positively correlated with Chinese and global FDI in Africa. Institutional variables, such as accountability and rule of law, are not...
Persistent link: https://www.econbiz.de/10013292933
For Portugal, the transition to the Euro began in September 1989 and featured three successive institutional arrangements related to the Exchange Rate Mechanism of the European Monetary System: shadowing it, belonging to it with 6% and then with 15% fluctuation bands. Using daily data, we study...
Persistent link: https://www.econbiz.de/10005456390
This paper explores the credibility of exchange rate arrangements for the five African Portuguese-speaking (PALOP) countries. Our working hypothesis is that credibility necessarily implies low mean exchange market pressure (EMP), low EMP conditional volatility and low-severity EMP crises. In...
Persistent link: https://www.econbiz.de/10005456398
We assess the determinants of Chinese direct investment in Africa compared with those of global FDI. We find that economic size and macroeconomic stability are positively correlated with Chinese and global FDI in Africa. Institutional variables, such as accountability and rule of law, are not...
Persistent link: https://www.econbiz.de/10010722845
This paper studies the credibility of the currency peg of Cape Verde (CV) by assessing the impact of economic fundamentals, our explanatory variables, on the stochastic properties of Exchange Market Pressure (EMP), the dependent variable, using EGARCH-M models. Our EMP descriptive analysis finds...
Persistent link: https://www.econbiz.de/10005176476
O fenómeno da globalização económica e financeira iniciou-se no século XV com a era dos descobrimentos portugueses, que conduziram à afirmação progressiva da hegemonia da Europa Ocidental e Atlântica, em geral, e de Portugal, em particular, sobre o resto do mundo neste período. Desde...
Persistent link: https://www.econbiz.de/10005456397
Persistent link: https://www.econbiz.de/10005600465
This paper is an empirical application that combines averting behavior with contingent valuation data. Consistency tests are performed incorporating alternative heteroscedastic structures in the bivariate probit models by taking advantage of the different information content that characterizes...
Persistent link: https://www.econbiz.de/10005456386