International Advances in Economic Research articles from February 2003

International Advances in Economic Research archives from February 2003

Communications networks and virtual economic integration: the case of three countries.
February 1, 2003... Abstract This paper proposes a three-country model of trade that captures the role of communications networks which enhance trade in business set-vices. The interconnectivity of country-specific networks is found to determine the structure...

Does exchange-rate volatility depress export flows: the case of LDCs.
February 1, 2003... Abstract In the area of international trade, few studies have examined whether increases in exchange-rate volatility depress trade flows of LDCs. The aim of this paper is to investigate empirically the impact of exchange-rate volatility on...

Capital Asset Pricing Models with default risk: theory and application in insurance.
February 1, 2003... Abstract The Capital Asset Pricing Model has been used frequently to derive a fair price of insurance. But the use of this model overestimates insurance premiums because it does not account for the insolvency risk of insurers. This paper...

Exchange rate and long run equilibrium in transition economies.
February 1, 2003... Abstract The purpose of this paper is to calculate purchasing power parity rates and the real exchange rate using several methods of calculation to estimate long-run equilibrium real exchange rates in transition economies, mainly in...

Banking in a new world order.
February 1, 2003... Abstract September 11, 2001 is the defining date of a new world order. Like all individuals and commercial activities in the U.S., American banks and other domestic financial institutions were affected by the events of the terrorist...

Interest risk and default risk: a conditional volatility study.
February 1, 2003... Abstract The aim of this work is to measure the risk-price sensitivity to interest rate changes in the Spanish market and to see if sensitivity is lower with public debt. To contrast this hypothesis, this study presents a model that...

Budget deficits and interest rates in Germany.
February 1, 2003... Abstract This study uses the basic toots of cointegration to deter-mine whether there exists a long-term relationship between budget deficits and nominal interest rates in Germany. Maximum eigenvalue, trace, and likelihood ratio tests all...

Mean spillover effects in agricultural prices: evidence from changes in policy regimes.
February 1, 2003... Abstract This paper investigates the behavior of input, output, and consumer food prices under two different policy regime periods, before and after the reformulation of the Common Agricultural Policy (CAP) occurred in May 1992. The...

Spanish regional policy: economic and social cohesion in the European Union.(Brief Article)
February 1, 2003... Abstract The aim of this paper is to analyze the economic and social cohesion from the Spanish perspective. The hypothesis is that the economic and social cohesion in the European Union needs three requirements. First, the Structural...

Long-run determinants of the real exchange rate for MENA countries. (Research Notes).(Middle East and North Africa)(Brief Article)
February 1, 2003... This paper analyzes the main determinants of the real exchange rate in the MENA (Middle East and North Africa) countries. The study applies new panel data unit root tests proposed by Inn, Pesaran, and Shin [1997] and new panel data...

Domestic territorial specificity and organization of inward FDI. (Research Notes).(Brief Article)
February 1, 2003... This paper shows the extent to which internationalization is an efficient strategy for a foreign multinational enterprise wishing to gain access to the competencies of a host country firm. According to the view commonly held, a multinational...

The trade-creating effects of capital flow liberalization. (Research Notes).(Brief Article)
February 1, 2003... Foreign capital liberalization stimulates bilateral trade. Accordingly, countries without asset restrictions tend to have lower trade barriers, more trade, and higher welfare. An extended gravity model for 74 countries is employed to test the...

The inefficiency of firm-augmenting public input versus the inapplicability of provision rules. (Research Notes).(Brief Article)
February 1, 2003... This paper contributes to the debate about the appropriate efficiency rule for the provision of a firm-augmenting public input. Firm-augmenting public inputs (infrastructure services) are important for endogenous growth and fiscal competition....

A postscript on colleges in collusion. (Research Notes).(Brief Article)
February 1, 2003... In 1989 the U.S. Justice Department investigated 13 elite small private colleges (the so-called Pentagonal/Sisters Group) and 10 doctoral-level institutions (the Ivy Overlap Group) into the way both groups set tuition and financial aid awards...

The effect of California's daily overtime law on hours of work: a re-examination. (Research Notes).(Brief Article)
February 1, 2003... In California, overtime is based on a daily rather than weekly standard. Using a variety of datasets, the effects of California's daily overtime law on hours worked was examined. Part of the analysis takes advantage of several changes in the...

A qualitative approach of how Belgian managers conceive competitiveness. (Research Notes).(Brief Article)
February 1, 2003... A survey conducted in 2001 among the largest Belgian manufacturing firms leads to identify some strategic behaviors and key factors of industrial success. Among them, basic choices (growth options and competitive and relational strategies) and...

Short-run elasticity of relative demand for petroleum inventory. (Research Notes).(Brief Article)
February 1, 2003... This study decomposed observed petroleum inventory into an expected component of normal seasonal movement and general trend, and an unexpected component, called relative demand for inventory, reflecting short-run responses to unplanned...