global financial system
This paper utilises long term data series on short-term Japanese interest rates to identify historical changes in interest rate behaviour. Japanese trajectories are then compared to those of key foreign short-term rates and their relationship examined using cointegration analysis to assess the impact of international financial integration. The findings suggest that lasting changes began in...
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The emerging Pacific Asian economies are clearly not immune to the current international financial crisis. All the major economies remain heavily dependent on Foreign Direct Investment (FDI) and export earnings, particularly from the USA. The vulnerability of the Pacific Asia economies is reflected in the behaviour of the regional stock markets, the sharp declines in...
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The Global Policy Institute is a research institute on international affairs. It is based in the City of London, and draws on both a rich pool of international thinkers, academics as well as policy and business professionals. The Institute gives non-partisan guidance to policymakers and decision takers in business, government, and NGOs.