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more independent central bank being responsible (., causing) lower inflation. Unless, however, we believe that laws and institutions are entirely irrelevant and have no effect whatsoever on economic

agged, and not contemporaneous, changes in US dollar exchange rates, explain firms current stock returns. Ratner [29] applied cointegration analysis to test whether US dollar exchange rates affect US

sion of domestic credit in the aftermath of financial liberalization tends to lead to banking and currency crises and, consequently, recessions (Kaminsky and Reinhart 1999). These issues have, in fact

They found that the more people traded, the worse they did, on average. And men traded more, and did worse than, women investors. Mental Accounting People sometimes separate decisions that should, in

time series is usually nonstationary． Engle and Granger(1987)point that if the linear bination of two nonstationary time series is smtionary,the two nonstationary time series have a cointegration

an increasing amount of Grameen Bank senior management time was devoted to exporting the Grameen Bank model. I first became acquainted with the Grameen model in 1987, while researching rural finance

The plots of trade balances of ASEAN5 economies with respect to their major trading partner Japan are shown in Figure 2. The Malaysian trade balance generally deteriorates from 1986 to 1995, and from

uts to estimate the percentage of crime proceeds that will be laundered and where it will take aggregate these estimates and assess the likely extent of money laundering and each country39。 s

terparts, China’s nonbank financial institutions can serve as a more appropriate ―reference group‖. For identifying the causality between finance and growth, it will be ideal if the difference

stock index， arbitrage with low risk and stable return will be pursued by investors .HS300 stock index futures take standardized contract,the main content and principles are as follows: Table11 The