Needless to say, it is necessary to study the relative scales of the trade creation effect and the trade diversion effect to evaluate success of ASEAN trade integration and to determine whether or not the intra-bloc trade share is appropriate as an indicator of the progress of reducing...

A number of theoretical studies have tended to trace the nature of globalization process’ impacts (mostly characterised by trade opening) on informality, while relevant empirical literature has been not well developed. The paper aims to fill this knowledge gap by shedding further light on the...

Employing the Pedroni co-integration technique and the GMM estimator, this paper aims at investigating the possible connection between financial development, financial openness and trade openness in twenty-nine Asian developing countries over 1994-2008. Firstly, we find a bidirectional causality...

This article aims to address the question of why China's bond market, particularly sovereign bond, is still quite underdeveloped while the country has enjoyed a spectacular economic growth since the launch of economic reforms. To do so, we provide an empirical analysis on the long-run and...

This paper aims to advance in the knowledge of the economic impacts of ISO 50001 certification on firms' performance. Our main research hypothesis is that ISO 50001 is associated with improvements in market value of firms. To test this hypothesis, we employ an event study methodology for a...

Using a large panel data set covering 160 countries over the period 1990 to 2010, this article aims to address the question of how financial structure (bank-based versus market-based system) changes when economies are liberalized and opened to international capital markets. Specifically, in this...

Both economic growth and exchange rate theories suggest that the exchange rate regime could have consequences for the medium-term growth of a country, directly, through its effects on the adjustment to shocks, and indirectly, through its impact on the important determinants of growth. It is,...

Our article investigates the temporal causation between foreign direct investment (FDI) and trade in Vietnam for the period 1990--2007. We first employ Granger causality tests in a co-integration framework, where the order of lags for each variable is selected by the Akaike Information Criterion...

Both economic growth and exchange rate theories suggest that the exchange rate regime could have consequences for the medium-term growth of a country, directly, through its effects on the adjustment to shocks, and indirectly, through its impact on the important determinants of growth. It is,...