This paper investigates whether the purchasing power parity (PPP) hypothesis holds in the Czech Republic, Hungary, and Poland by considering currencies of their five largest trading partners. We employ eight panel unit root tests that can be arranged in groups by cross-section independence or...

This paper analyzes the impact of volatility in the world energy price on aggregate economic activity in an unbalanced panel data framework for 10 developing Asian countries: Bangladesh, PR China, India, Indonesia, Malaysia, Pakistan, the Philippines, Thailand, Turkey and Vietnam. We use both...

The aim of this paper is to examine different shocks to Israel’s business cycle from 1960 to 2007 in terms of the relationship between military expenditures and inequality, Gini coefficient. We begin with the assumption that there is a direct effect of higher military expenditures on income...

<title>Abstract</title> This paper attempts to explore the relationship between openness and a Chinese firm's productivity using 1999--2002 panel data on 26 industries covering 2400 enterprises. The current literature has focused mainly on the relationship between productivity and exports, using country-level...

Currency crises have become a serious threat for developing countries, especially since the financial deregulation process and the collapse of the Bretton Woods system. In the past two decades, Turkey has experienced two major currency crises. This study aims to predict the determinants of...

Textile and clothing (T&C) industry has experienced important developments since 1994. The most important is that Agreement on Textiles and Clothing (ATC) signed (1994) under supervision of World Trade Organization. The system governing T&C trade for more than 40 years has expired by means of...

This paper reassesses how “experience-based” corporate corruption affects stock market volatility in 14 emerging markets. We match the World Bank enterprise-level data on bribes with a unique cross-country macroeconomics dataset obtained from the World Bank development indicators. It is...

This paper attempts to explore the determinants for small and medium enterprise (SME) performance. In particular, we investigate how training, technology adoption, finance channels and exporting behavior affect SMEs' performance by examining the determinants of the profit per worker. Using a...

This paper applies a conditional jump model that was proposed by Chan and Maheu (2002) to examine the stock market dynamics of Mexico, Indonesia, South Korea, and Turkey (MIST). We find that the conditional jump intensity parameter estimates are statistically significant and change dramatically...