In this paper we design a simple trading strategy to exploit the hypothesized distinct informational content of the arithmetic and geometric mean. The rejection of cointegration between the two stock market indicators supports this conjecture. The profits generated by this cheaply replicable...

This paper gives empirical evidence for the superior performance of foreign direct investment in Romania in the presence of highly labor-intensive production and large market shares. Performance is measured in terms of investment volume and net profits. Partial state-ownership in joint ventures...

In this paper we analyze annual trade data for Austria and Central and Eastern Europe (CEE) on a disaggregate level. Permanent structural changes in East-West trade turn out to be an important feature in the transition process. The considerable contribution of intra-industry trade to overall...