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Short selling and equity returns with full information dissemination

Alexakis, Panayotis - In: International Journal of Monetary Economics and Finance 4 (2011) 2, pp. 150-171

This paper sheds further light on whether short selling can be associated with negative returns in the spot market. It provides evidence for the case of the capital market of the Athens Exchange (ATHEX) that is empirically tested for the first time, during the period 2003–2007. This market...

Persistent link: https://www.econbiz.de/10009352476

Capital market development in an emerging economy and the challenge of fostering foreign participation

Edo, Samson E. - In: International Journal of Monetary Economics and Finance 4 (2011) 2, pp. 195-215

This paper investigates the contribution of foreign investors to capital market development in an emerging economy. The findings reveal that Foreign Portfolio Investment (FPI) as well as foreign issue of securities (FS) made insignificant contribution to development of the market compared to...

Persistent link: https://www.econbiz.de/10009352480

International financial contagion of the US sub-prime crisis: evidence through the adjusted correlation test and non-linear Error Correction Models (ECM)

Omri, Anis; Ghorbel-Zouari, Sonia - In: International Journal of Monetary Economics and Finance 4 (2011) 2, pp. 135-149

In this essay, we test the presence of the contagion phenomenon during the US sub-prime crisis. We adopt the test of adjusted correlation coefficients between markets and propose a new procedure which involves testing the non-linearity of the propagation mechanisms shocks, estimated with a model...

Persistent link: https://www.econbiz.de/10009352484

Unconventional monetary policy in practice: a comparison of 'Quantitative Easing' in Japan and the USA

Reith, Matthias - In: International Journal of Monetary Economics and Finance 4 (2011) 2, pp. 111-134

Quantitative Easing (QE) has been widely used by major central banks in the recent economic and financial crisis that started in 2007. However, the Bank of Japan (BoJ) already applied QE between 2001 and 2006. This paper tries to examine the differences between BoJ-type QE and QE applied by the...

Persistent link: https://www.econbiz.de/10009352501

Regime switching, asymmetric correlation and international portfolio choices

Abid, Fathi; Bahloul, Slah - In: International Journal of Monetary Economics and Finance 4 (2011) 2, pp. 172-194

The aim of this paper is to investigate the behaviour of international equity returns and correlations using the discrete-time Markov-switching model and the impact of this behaviour on international portfolio choices. We take the perspective of a US-based global investor who considers...

Persistent link: https://www.econbiz.de/10009352502

Financial sector development and economic growth nexus in South Africa

Sunde, Tafirenyika - In: International Journal of Monetary Economics and Finance 5 (2012) 1, pp. 64-75

The study investigated the nexus between financial sector development and economic growth in South Africa using cointegration and error correction modelling and; the Granger causality tests. The results of the study show that economic growth is explained by the financial sector variables and...

Persistent link: https://www.econbiz.de/10010669713

Financing the capital development of the economy: A Keynes-Schumpeter-Minsky synthesis

Mazzucato, Mariana; Wray, Larry Randall - 2015

This paper discusses the role that finance plays in promoting the capital development of the economy, with particular … emphasis on the current situation of the United States and the United Kingdom. We define both "finance" and "capital … the United States. To a large degree, this was because finance, instead of financing the capital development of the …

Persistent link: https://www.econbiz.de/10011545297

Post-Keynesian macroeconomics since the mid-1990s: Main developments

Hein, Eckhard - 2016

integrated analysis of money, finance and macroeconomics and its application to changing institutional and historical …

Persistent link: https://www.econbiz.de/10011565324

Policy volatility and growth

Chong, Alberto; Gradstein, Mark - 2006

A growing body of recent macroeconomic evidence suggests that volatility is detrimental to economic growth. The channels through which volatility affects growth, however, are less clear; substantive evidence based on disaggregate data is almost non-existent. This paper offers a framework in...

Persistent link: https://www.econbiz.de/10010278247

Money in finance

Wray, L. Randall - 2011

This paper begins by defining, and distinguishing between, money and finance, and addresses alternative ways of … financing spending. We next examine the role played by financial institutions (e.g., banks) in the provision of finance. The … role of government as both regulator of private institutions and provider of finance is also discussed, and related topics …

Persistent link: https://www.econbiz.de/10010281714