One of the defining trends in international finance over the last two decades has been the unprecedented growth in the levels of international reserves accumulated by emerging nations. In a global financial system characterized by market failures and sudden stops, many developing countries have...

This paper examines the relationship between beta risk and realized stockindex return in the presence of oil and exchange rate sensitivities for fifteen countriesin the Asia-Pacific region using the international factor model. Thirteen of the 15countries have the expected beta signs and show...

The author concludes that mitigation is the focus of conflicting opinions regarding responsibility, strategy, and effort. There are no hard, fast, or tried and true rules for company involvement in mitigation efforts. Each mitigation effort must be tailored and negotiated to match the unique...

This study focuses on public investments and policy reforms for leveraging growth spillovers at the Africaregional level. It reviews first the theory and evidence of knowledge and growth spillovers generally andsecond the evidence in the African context. Given the limited and scattered evidence...

In static applied general equilibrium models, the exogenous/endogenous split between variables (or closure) is used to infer the time frame over which the effects of a shock are simulated. This paper introduces a long-run closure for the GTAP model (Hertel and Tsigas, 1997) and uses this closure...

Introduction to the theory of international trade and finance with applications to current policy issues. From the course home page: Course Description The course will help us understand what determines the flow of goods across countries, i.e. international trade, and what determines the flow of...

Professor Kojima of Hitotsubashi University is a leading Japanese economist in international economics. Two of his major ideas are reviewed: a theory of pro-trade FDI and an extended "flying-geese" theory of industrial development. Kojima's pro-trade FDI (which rests on the doctrine of...

This paper uses a survey of 1,826 firms distributed over ten East Asian metropolitan areas – Jakarta, Kuala Lumpur, Manila, Seoul, and five Chinese cities – to investigate the sources of firm-level R&D capabilities. The analysis identifies the impact of 23 survey variables, classified by...

Managing corporate performance is an important yet challenging process. Recently, many enterprises have adopted business intelligence (BI) tools to facilitate more effective corporate performance management. Based on a survey with 290 organizations across North America and East Asia, this paper...

The launch of the economic and monetary union in Europe and the 1997 financial crisis that underscored the disadvantages of currently employed exchange rate regimes raised questions about the feasibility of a similar monetary unification project for East Asia. Being one of the most dynamically...