This paper analyzes the time-varying integration of the Greek stock market from a regional perspective by using a conditional version of the international capital asset pricing model (ICAPM) allowing for dynamic changes in the degree of market integration, regional market currency risk, and...

This paper examines the relevance of the Balassa-Samuelson productivity-bias hypothesis for explaining long-run permanent shocks in the real exchange rates. The sample consists of yearly data on real exchange rates and productivity for six OECD countries. On the basis of Johansens maximum...

In this paper, we investigate whether the recent financial turmoil which arose in the United States has contaminated the Middle East and North African countries (MENA). In contrast to Lagoard-Segot and Lucey (2009), we try to identify the existence of pure contagion (Masson, 1999) rather than...

After matching a rich micro-level Iranian customs dataset with a macro-level cross-country database on Iranian diaspora stocks, we establish that diaspora matters for dynamics of Iranian exporters. We document the extent to which Iranian emigrants foster exports through both intensive and...

Whether international economic integration arrangements result in a more liberal trade at the multilateral level cannot be proven with ease. Integration may start this process, but it may also reverse it. New mega-integration deals such as the Trans-Pacific Partnership, Regional Comprehensive...

In this paper pattern of Pakistan's exports, comparative advantage of exports, Complementarity and commodity concentration of exports and export instability of Pakistan are analyzed. The mismatch between Pakistan's exports and world imports in also identified. Different indices have been...

The paper departs from the perception that trade in services in general and developing countries' exports in services in particular are dynamic segments of world trade. Both total trade data as well as US import trade figures do not support this perception. Success episodes such as the recent...

There are many papers written on how price and wage rigidity can cause monetary policy to generate real effects on the economy. In those that incorporate open-economy considerations, monetary changes in one country also has an impact on other economies. In this paper, an attempt is made to add...

This study extends the gravity model to include a new measure of the trading partners’ location relative to other countries. The proposed measure is close in spirit to the theory of gravity, since it is based on the concept of the world trade center. The measure is statistically significant...

This paper measures the effect of currency rate changes on the competitive - ness of India’s main export industries, Tea and Cotton Textiles. In contrast to the conventional approach that uses data from commodity markets, the present study is based on data from stock markets. The analysis is...