This paper first reviews the mainstream literature concerning the explanatory factors of fdis in the ceecs and specifically the exchange rate effects. We then present an empirical analysis of medium and long term exchange rate effects over the period 1995/2002, comparing us and eu investors...

The upsurge of the euro opens the possibility that two international currencies coexist. This paper focuses on the potential discordance between the demand and supply structures of international liquidity within a bipolar monetary regime. We show that the adjustment process intended to stabilize...