Integrated capital markets could smooth a large share of country-specific consumption and income fluctuations. Equity capital play an important role in the process. Insolvency regulations are a key factor for stronger equity market integration. Uniform European insolvency regulations are...

The aim of this study is to investigate the determinants of integration between stock market of Romania and other stock markets of European Union (EU) countries. Correlations between the stock returns represent the level of integration between the stock markets. Empirical analysis are performed...

Cultural allegiances whether inherited, imposed or chosen, affect economic activity. Many of these cultural layers – ethnic background, religion, language, ideological orientation, and artistic interests – spill over national boundaries. Cultural ideas travel the world along many routes from...

This chapter provides an overview of the first two decades of the Global Trade Analysis Project (GTAP) an effort to support a standardized database and computable general equilibrium (CGE) modeling platform for international economic analysis. It characterizes GTAP in four different dimensions:...

In the present paper, our main objective is to bring to the forefront two notable processes, as a result of the world financial and economic crisis. On the one side, we underline the increasing role of the emerging countries (especially that of China, Brazil, Russia and India) in the world...

This study addresses the impact of equity market liquidity on Canadian economic growth and investigates how consumer attitudes/sentiments affect the dynamic macro-liquidity relationship. Using various market liquidity proxies (e.g., illiquidity ratio and open interest of equity futures) while...

This paper provides global evidence supporting the hypothesis that expected return models are enhanced by the inclusion of variables that describe the evolution of book-to-market-changes in book value, changes in price, and net share issues. This conclusion is supported using data representing...