An EPZ is basically no more than a device whereby imports, to be used in the production of exports, can be acquired by manufacturers on a bonded duty-free basis. They are literally industrial zones with special incentives to attract foreign investors in which imported materials undergo some...

The focus of this study is to assess the determinants of daily bid-ask spread. Following Ng (2007), the study uses an effective spread rather than a quoted one. Ng, argues that an effective spread is based on the deviation between trade price (true price) of the transaction. First, a daily...