This paper analyzes interbank markets under currency boards. Under such an environment, problematic endogeneity issues common to other monetary regimes do not arise. Using daily data from the interbank markets in Bulgaria and Lithuania we show, that contrary to the existing literature, overnight...

In der vorliegenden Arbeit beschäftige ich mich mit der theoretischen Analyse von Geld- und Fiskalpolitik in Currency-Board-Systemen und der Währungsunion. Beide Währungssysteme haben seit den neunziger Jahren zunehmend an Bedeutung gewonnen, Currency Boards durch die Rückgewinnung der...

The importance of analysing inflation sources and dynamics in Bulgaria is imposed by (i) the long run process of price and inflation convergence to the Euro area and (ii) by the Currency Board operating in the country. In this study we make an attempt to estimate Balassa - Samuelson (BS) effect...

The paper seeks to assess how a major policy regime change – such as the introduction of the currency board in Bulgaria – affects the flow of bank credit to the corporate sector. An attempt is made to identify the determinants of corporate credit separately from the viewpoint of lenders and...

University-industry partnerships (UIPs) are widely viewed as essential in leveraging research capability and economic performance in organizations and the nation as a whole. In Australia, as in many other countries, the national government commits significant funds to such ‘strategic’...

Equity markets in developing and emerging economies have grown in number and importance as a result of financial market globalisation. However, their role in economic growth and development is enhanced if nascent markets are integrated with well-established ones. Market integration, measured by...

This paper attempts to provide alternative estimates of income distribution in South Africa, utilizing data that allow us to evaluate income, distribution across time, reducing dependence on the vagaries associated with individual surveys. In particular, we attempt to arrive at racial...

Registration of births, recording deaths by age, sex and cause, and calculating mortality levels and differentials are fundamental to evidence-based health policy, monitoring and evaluation. Yet few of the countries with the greatest need for these data have functioning systems to produce them...