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…
"17" Result
Sort By:
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 …
The concept of cointegration has become a cornerstone in applied time series analysis to study the long-run equilibrium relationship among the series. The idea was originally put forth by Engle and Granger (1987). According to the Granger Representation Theorem cointegrated seri…
This thesis analyses the determinants of the real exchange rate in Turkey. It is the first major study of the sources of real exchange rate variability in Turkey. This is an important topic because, if the real exchange rate is misaligned, there will be adverse effects upon econ…
The currency crises occurred in many Southeast Asian countries in recent months had raised many concerns about whether their currencies and interest rates conformed to international parity conditions on one hand, and whether the occurrence of these simultaneous crises in the reg…
The movements of real exchange rates, narrowly defined as the relative prices of nontradables, are examined in eight high-growth East Asian economies. Despite two decades of remarkable economic growth, the Balassa-Samuelson effect--trend increases in relative prices of nontradab…
This is a three-essay dissertation. Chapter One develops a theoretical model to explain intra-industry direct foreign investment and study its properties. The model yields interestingly intuitive insights despite its simplicity and static nature. It is shown that in order for in…
The main purpose of my dissertation is to determine long-run exchange rate movements through macroeconomic fundamentals and stock prices. The augmented Dickey-Fuller test for testing for a single unit root and Dickey-Pantula's methodology for testing for multiple unit roots are …