Global supply chains reshaped international trade since the end 1980s and their role in the trade collapse that followed the financial crisis of September 2008 was determinant. Because production is now internationally diversified, adverse external shocks affect firms not only through final...

In the aftermath of the global financial crisis monetary policies in advanced economies caused a surge in cross-border lending to emerging market economies (EMEs). Policymakers of EMEs criticized those policies on the grounds that they pave the way for financial imbalances in EMEs and called for...

The global financial and economic crisis revealed institutional weaknesses and structural problems of particular Economic and Monetary Union (EMU) countries. The crisis and slowdown that followed had an impact on their relative competitiveness. Financial and economic turbulences of recent years...

In contrast to the widely recognized importance of exchange rate regimes, evidence on their effect on business cycle synchronization focuses almost exclusively on the role of currency unions, thus implicitly ignoring potential effect of other exchange rate regimes. In this paper we use a new...

We document that, at business cycle frequencies, fluctuations in nominal variables, such as aggregate price levels and nominal interest rates, are substantially more synchronized across countries than fluctuations in real output. To the extent that domestic nominal variables are determined by...

The study investigates the influence of intra-African trade on Africa's macroeconomic performance. To mitigate potential biases, the paper employs a two-step estimation technique (2SLS). In the first step, the paper uses Poisson pseudo maximum likelihood (PPML) to estimate the gravity model for...

This study examines policy tools in the fight against terrorism when existing levels of terrorism matter in 53 African countries for the period 1998-2012. The empirical evidence is based on contemporary, non-contemporary and Instrumental Variable Quantile regressions (QR) which enable the...

The study analyses comovement between the real effective exchange rate of South Africa and those of a sample of countries that include the world’s major economies as well as emerging and developing economies. The comovement is examined over the short and long term as well as pre and post the...

The study analyses comovement between the real effective exchange rate of South Africa and those of a sample of countries that include the world’s major economies as well as emerging and developing economies. The comovement is examined over the short and long term as well as pre and post the...

Bangladesh faces significant environmental challenges stemming from improper industrialization and unsustainable commercial practices. This study aims to evaluate the effectiveness of various attributes and sub-attributes associated with manufacturing companies in Chittagong in addressing...