Ukraine has experienced both rapid growth and substantial price and financial volatility since its adoption of exchange-rate stability as the primary goal of the National Bank of Ukraine (NBU). The increased financial intermediation of the population is a primary reason for these. I demonstrate...

Despite its adoption of a nominal-anchor exchange-rate policy during the period 1999-2005, Ukrainian financial markets were subject to substantial premia in interest rates on inter-bank markets relative to what is observed in Euro credit markets. In this paper I demonstrate that there were three...

Trade in textiles and apparel is of special interest among international trade transactions. Removal of the final Agreement on Textiles and Clothing (ATC) quotas in 2005 brought about a division of textile- and apparel-exporting countries into groups of winners and losers. Turkey appeared as a...