The finding of nonlinear cointegration between Asian exchange rates with the corresponding relatives prices and aggregate price levels based on Breitung’s (2001) nonparametric rank tests reinforces previous validations of Purchasing Power Parity by the parametric testing procedures. Hence, in...

The purpose of this working paper is to give the real meaning of DEVELOPMENT from Islamic perspective. Most of Muslim countries are LDCs and using the religious and social ideology of Islam is very useful to establish institutions and to bring moral and ethical change for development in these...

The most recent crisis prompted regulatory authorities to implement directives prescribing actions to resolve systemic banking crises. Recent findings show that government intervention results in only a small proportion of bank recoveries. This study examines the reasons for this failure and...

In our paper we analyze the heterogeneity between various business models among systemically important banks in 65 countries over the period of 2000-2012. For the first time, we are able to identify true banking strategies consisting of different combinations of bank asset and funding sources...

The objective of this paper is to highlight the idea according to wish the current misery of the DRC would be mainly dependent on the debt crisis of the years 1970-1980. To analyze this problem, the econometric approach was privileged and more precisely the cointegration. By the cointegration,...

The aim of this paper is to empirically examine the relationship between saving and investment for 6 Middle East and North African Countries for the period 1980-2008. To this end, we use panel cointegration analysis and Error Correction Model techniques. The long run estimation reveals causality...

This paper attempts to explore a new dimension of India’s ‘finance-growth-crisis’ nexus. For this end, the summary indicators of financial development, financial crisis and financial repression are created through the principal component approach, and we perform the cointegration and...

Citizens of Southern Europe have been presented by the German media and politicians as lazy and work aversive. First, it is checked whether and to what extent those characterizations do reflect reality, and then, in view of the Greek economic crisis, it is shown that crises and not laziness...

This paper empirically investigates the impact of exchange rate volatility on the real exports in India using the ARDL bounds testing procedure proposed by Pesaran et al. (2001). Using annual time series data, the empirical analyses has been carried out for the period 1970 to 2011. The study...

This paper provides an overview of the history of development research at the World Bank and points to new future directions in both what we research and how we research. Six main messages emerge. First, research and data have long been essential elements of the Bank’s country programs and its...