The literature has identified at least five approaches to the determinants of the choice of exchange rate regimes: i) optimal currency area theory; ii) exchange rate policy and the absortion of real and nominal shocks; ...

This paper then attempts to show how a PCR, in this case from Argentina, can help to set capital and provisioning rules. In order to so this, we employ an econometric credit scoring model on the PCR data - an ordered probit ...

In this paper, we examine how the business and interest rate cycles in developed countries affects FDI to developing countries. After aggregating flows into three big source areas (the U.S., Europe and Japan), we find FDI ...

This paper analyzes whether the extent of product market competition that a firm faces affects its capital structure. We study the effect of competition on leverage for firms acting in the US newspaper industry. Potential ...

The role of regional integration agreements as a determinant of the location of FDI has become an increasingly relevant issue for emerging economies. While the concerns regarding the impact of RIAs on FDI for countries in ...

We study the finite sample properties of the most important methods of estimation of dynamic panel data models in a special class of small samples: a two-sided small sample (i.e., a sample in which the time dimension is ...

Since the Tequila crisis in 1994, and particularly after the succession of crises in Asia and the default episode in Russia, questions related to international sovereign bond restructuring have been increasingly at the ...

This paper presents a framework to analyze financial globalization. It argues that financial globalization needs to take into account the relation between money (particularly in its role as store of value), asset and factor ...

This paper develops new estimates of capital outflows and is the first, to our knowledge, to analyze the determinants, consequences and inter-relationship between inflows and outflows. Given the dynamics and individual ...

Most of the empirical literature on exchange rate regimes uses the IMF de jure classification based on the regime announced by the governments, despite the recognized inconsistencies between reported and actual policies ...