
Actualités
Actualités
The Political Economy of FDI Flows into Developing Countries: Does the Depth of International Trade Agreements Matter? (version préliminaire)
Mercredi | 2012-07-04 B103 Arslan Tariq RANA There is considerable debate whether the domestic political institutions specifically, the country’s level of democracy) of the host developing country toward foreign investors are effective in establishing the credibility of commitments are still underway, researchers have also analyzed the effect of international institutions such as (GATT/WTO) membership and Bilateral Investment treaties (BITs) in their role of establishing the credibility of commitment to attract foreign investments. In addition, most recent studies have examined the […]
Stock Market Reaction to Layoff Annoucements: European Evidence (2002-2010)
Mardi | 2012-07-03 B103 Delia CORNEA-TATU – Gunther CAPELLE-BLANCARD The stock market reaction to layoff announcements depends on investors’ perception regarding the information contained in these announcements. In this paper, we examine this reaction using a new sample of restructuring announcements occurred in different European countries, over the period 2002-2010. The results reveal an overall negative, but not significant, market reaction of –0.177% for a three days event window. However, extending the analysis to specific layoff characteristics and to other […]
Bank lending Channel in MENA Countries: Evidence from Dynamic Panel Model
Mercredi | 2012-06-26 B103 Samouel Beji – Aram BELHADJ Most of the works related to monetary policy transmission mechanisms did not take into account the special case of developing countries. In these countries, given their features (exchange rate rigidity, financial fragility, banking prominence, etc.), it seems that the most reliable monetary transmission mechanism is the lending channel. The purpose of this paper is to focus specifically on this channel in 18 MENA Countries by using a GMM system on dynamic […]
Estimating the Impact of the New Capital Requirements on the Cost of Bank Capital: an Empirical: an Empirical Study on European Banks
Mercredi | 2012-06-20 B103 Oana TOADER
Parameter Estimation with Out-of-Sample Objective
Mardi | 2012-06-19 B103 Elena-Ivona DUMITRESCU – Peter Reinhard HANSEN We discuss parameter estimation in a situation where the objective is good out-of-sample performance. A discrepancy between the out-of-sample objective and the criterion used for in-sample estimation can seriously degrade the performance. Using the same criterion for estimation and evaluation typically ensures that the estimator is consistent for the ideal parameter value, however this approach need not be optimal. In this paper, we show that the optimal out-of-sample performance is […]
Horizontal and Vertical Technology Spillovers from FDI in Eastern Europe (version préliminaire)
Mercredi | 2012-06-06 B103 Cristina JUDE
Coût du financement et partage des risques en finance islamique : une nouvelle approche endogène
Mardi | 2012-06-05 B103 Fayçal AMRANI Cet article propose une nouvelle explication de la faible présence des contrats mudharaba dans les bilans des banques islamiques. Nous démontrons que la quasi disparition des contrats de partage dans la pratique des institutions financières islamiques n’est pas liée à la nature de ces contrats mais à la méthode de calcul de la marge bénéficiaire des contrats mark-up. Nous proposons une méthode de calcul qui unifie le coût du financement des deux grandes catégories […]
Does Democratic Transition Spur Financial Development
Mercredi | 2012-05-23 B103 Abdelkader BOUDRIGA – Wafa GHARDALLOU- BEN AHMED This paper examines whether the effects of democracy on financial development are influenced by the quality of institutions using a panel dataset of a large sample of developed and developing countries over the period 1984-2006. The results indicate that democracy plays a direct important role in stimulating the financial development. Particularly, effects of democracy on financial development are enhanced by higher levels of economic institutions. Otherwise, development may be […]