27 articles in this issue
Lucas Lucio Godeiro
The paper tests the CAPM for the Brazilian stock market using dynamic betas. The sample involves 28 stocks included in the Ibovespa portfolio as of March 21, 2012 and that were traded during the period from Jan. 01, 1995 to March 20, 2012. Dynamic betas w... see more
William Bekoe,Philip Kofi Adom
In spite of the progress made in economic performance over the years, the Ghanaian economy continues to be bedevilled by a host of constraints. Among these constraints are low levels of savings and investments which have raised serious concerns among econ... see more
Samih Antoine Azar,Loucine Basmajian
The purpose of this paper is to test the impact of oil price shocks on the stock markets of the two biggest and most liquid GCC equity markets, those of Kuwait and Saudi Arabia. It is expected that the two stock markets react similarly to oil price shocks... see more
Taofik Mohammed Ibrahim,Mohammed Isa Shuaibu
Over the years, substantial theoretical and empirical studies have been conducted on the financial development-economic growth nexus. While a strand of the literature has found a positive linkage between this critical nexus, the other suggests otherwise. ... see more
Ismail Aydogus,Mert Topcu
Validity of globalization brings out the question of whether greater openness is a booster reason to have a bigger government. This issue has been started to be discussed in relevant literature since the late 1970s. In this context, the purpose of this st... see more
Aloysius Ajab Amin
The paper examines the importance of relative prices, institutional quality and other factors which are regressed on the estimated total factor productivity (TFP). With panel data of 26 African countries for the period 1980-2011, the results show that rel... see more
Karan Singh Thagunna,Saujanya Acharya
This paper analyzes the nine year remittance inflow and macroeconomic data of Nepal, and studies the effect of remittance on each of those macroeconomic variables. We have used Unit Root Test, Least Squared Regression Analysis, and Granger Causality Test.... see more
Ines Ayadi,Abderrazak Ellouze
The objective of this research is to examine the relationship between market structure and the performance of the Tunisian banking system over the period 1990-2009. The Data Envelopment Analysis (DEA) method was used to assess the scores of x-efficiency a... see more
Gülin Vardar
The study investigates the link between the cost and profit efficiency scores of the banks in the Central and Eastern European Countries as well as Turkey along with their stock price performance to determine whether the efficiency scores are priced accor... see more
Mohamed Ali Trabelsi,Naoufel Liouane
The struggle against poverty and social inequality is one of the biggest challenges for developing countries. These countries should adapt themselves to a new economic world order characterized by trade liberalizati... see more
Mohammad Javad Razmi,Ramiar Refaei
One of the rudiment features of international trade theory is that open economies achieve high economic growth rates than closed economies. The current study aims to investigate how economic freedom impacts economic growth. Therefore, economic growth mode... see more
Bahar Burtan Dogan
Social capital plays a crucial role in the development processes of every country. Diyarbakir, a metropolitan city in Turkey, and her hinterland had always been – and still is – one of the most developed centers of Anatolia and Middle East. But the city i... see more
Masaya Yasuoka
Some earlier papers examine whether child allowances can raise fertility or not in an endogenous fertility model with a defined contribution pension system. They derive that a child allowance can raise fertility. This paper is aimed at deriving the level ... see more
Caner Cebeci,Ebru Kol
While the demands of changed market conditions and evolving customer needs threatening the existence of the firms in the market today, it requires a fast-oriented transformation to maintain the presence. Changing institutional and environmental factors, b... see more
Ali Said
The present paper measured overall technical efficiency of Islamic banks operating in the MENA region during the financial crisis of 2007-2009 to address the question what are the levels of overall, pure technical and scale efficiency of Islamic banks ope... see more
Godfrey Ndlovu
The relationship between financial system development and economic development has attracted interest of a number of researchers all over the world, however institutional differences and capital allocation variations between and within economies, make it ... see more
Afifa Hakam,Filali Adib Fatine,Firano Zakaria
The empirical results of this paper indicate that the degree of competition in the banking system is determined by several macroeconomic aggregates that describe the relevance of the policies implemented in financial Morocco. Thus, the result shows that t... see more
Majid Delavari,Nadiya Gandali Alikhani,Esmaeil Naderi
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Aydan Kansu,Nurtaç Yildirim,Oguzhan Ozcelebi
Following the recent financial crisis of August 2007 in US, economists and policy makers hold the view that monetary policy may have an effect on real economic activity through ‘risk taking channel’ which indicates the risk behavior of economic agents and... see more
Edouard T. Djeutem,Pierre E. Nguimkeu
Two approaches are used to analyze the sustainability of the current account deficits of Cameroon in order to find out whether current economic policies are sound enough to guarantee the country’ s financial solvency. The first uses a structural pro... see more
Ibrahim Arisoy
This paper examines the validity of Fisher hypothesis in Turkey for the time period 1987Q1-2010Q3. For this purpose, we employ cointegration test with a structural break as well as time varying parameters approach (TVP) that takes into account the effects... see more
Janesh Sami
This study examines the role of remittances and economic growth in banking sector development in Fiji using annual data from 1980-2010. This study finds evidence of long run relationship between banking sector development, remittances and economic growth ... see more
Serpil Tomak
The aim of this study is to investigate the relationship between the overconfidence and capital structure in Turkish manufacturing firms. In addition to management confidence, the impact of the fundamental factors on the market leverage is analyzed. The a... see more
Faruk Gursoy,Ahmet Sekreter,Huseyin Kalyoncu
This paper aims to investigate empirically the impact of FDI on economic growth for Azerbaijan, Kyrgyz Republic, Kazakhstan, Tajikistan, Turkmenistan, and Uzbekistan over the period 1997-2010. The Johansen cointegration and Granger causality tests are use... see more
Nathaniel E. Urama,Moses O. Oduh,Emmanuel O. Nwosu,Augustine C. Odo
In an attempt to find out the degree of monetary non-neutrality in Nigeria we started from finding out the size of price rigidity in the country. Computation with Ball and Romer method showed that price rigidity is optimal decision for firms in Nigeria on... see more
Taha Zaghdoudi
In recent years the economic and financial world is shaken by a wave of financial crisis and resulted in violent bank fairly huge losses. Several authors have focused on the study of the crises in order to develop an early warning model. It is in the same... see more
Mohammad R. Safarzadeh,Fatemeh Ibrahimi Nazarian,Ana Kristel C. Molina
Analyzing the risk and return for the S&P Currency Index Arbitrage and the Merk Absolute Return Currency Fund, this study intends to find whether currency asset classes are worthwhile investments. To determine where the efficient currency portfolios lie i... see more