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An overview of the causes and consequences of speculative attacks on domestic currency and international financial turmoil. It provides a comprehensive treatment of the existing theories of exchange rate crises and of financial market runs.
Focusing on international markets and multinational corporate finance, this book is the go-to resource for students seeking a complete understanding of the field.
Before the onset of the global financial crisis in late 2008, countries in Eastern Europe and Central Asia (ECA) experienced strong economic growth. Demand for electricity increased steadily with gross domestic product (GDP). GDP grew, on average, 6.5 percent between 2000 and 20…
Economic developments in Asia have been positive so far in 2007. Growth has been stronger (and in many cases more balanced) than expected across much of the region, again led by China and India, and inflation pressures remain largely contained. Moreover, Asia weathered the recen…
This work attempts to determine the exchange rate policy objectives of monetary authorities in emerging markets and analyze the instruments used to achieve them. The introductory chapter discusses a wide range of issues related to exchange rate policy, exchange rate regimes, and…
This study investigates the dynamic relation between stock prices and exchange rates in three emerging markets, Egypt, Saudi Arabia and the United Arab Emirates. First, an institutional analysis of the three emerging markets is provided then econometric techniques are applied to…
The recent wave of financial crises in the 1990s and the 2000s resulted in severe economic distress among emerging market countries across several regions. The exchange rate plunged sharply at the time of crisis and output severely contracted. Using the quarterly data of the Asi…
This dissertation is organized into two essays in international economics and finance. The first is an analysis of the US-Morocco free trade agreement and its impact on Morocco. The study uses a computable general equilibrium CGE model and relaxes assumptions of full employment …
Differently from orthodox stabilization programmes, exchange rate based stabilization programmes (ERBS) show a peculiar cycle. Output, growth and consumption rise from the onset and there is a huge current account deficit. Since several programmes have been accompanied by huge c…
This study evaluates alternatives of exchange rate regimes or arrangements to predict the most appropriate arrangement that is economically and politically feasible for the Gulf Cooperation Council (G. C. C.) States to adopt for the purpose of coordinating their exchange rate po…
This dissertation contains two essays. Both essays address the econometric validity of certain exchange rate models in the light of multivariate Maximum Likelihood methodology of cointegration devised by Johansen. First essay aims to examine the econometric validity of some exch…
This dissertation consists of three essays. The first essay, published in the Turkish Central Bank Review I, 2010, examines the impact of exchange rate movements on export prices and profitability, at sectoral and at firm level respectively, for Turkish manufacturing. The result…
This dissertation consists of three essays in housing, trade, and time series econometrics. The first essay empirically investigates cointegrating relation between housing prices and economic fundamental variables in the US housing market. Employing simple yet rigorous econometr…
This dissertation consists of three essays on international economics. The first essay studies exchange rate arrangement in Korea. After the crisis, Korea announced that it would let its currency float freely. Our analysis indicates that Korea still loosely pegs its currency to …