Search results

1 – 3 of 3
Per page
102050
Citations:
Loading...
Access Restricted. View access options
Article
Publication date: 22 April 2004

Marc W. Simpson and Sanjay Ramchander

This paper shows that the University of Michigan’s ”Survey of Consumers“ can be useful in predicting the direction of change in five U.S. dollar exchange rates. The explanatory…

162

Abstract

This paper shows that the University of Michigan’s ”Survey of Consumers“ can be useful in predicting the direction of change in five U.S. dollar exchange rates. The explanatory power, however, is contingent on the particular survey question employed and the forecast horizon under consideration. The study finds that the survey question regarding car purchases does especially well in predicting the future direction of exchange rate movements. Furthermore, the results generally indicate that the survey is more useful when making distant (i.e., 12‐month ahead) currency forecast than for making near term (i.e., 3‐month and 6‐month ahead) predictions.

Details

American Journal of Business, vol. 19 no. 1
Type: Research Article
ISSN: 1935-519X

Keywords

Access Restricted. View access options
Article
Publication date: 1 May 2003

Emmanuel Anoruo, Sanjay Ramchander and Harold Thiewes

The degree of integration among different economies is an important issue in international economics and finance. This article employs daily stock market data for the period 1988…

965

Abstract

The degree of integration among different economies is an important issue in international economics and finance. This article employs daily stock market data for the period 1988 through 1999 to investigate the return dynamics and the extent of the stock market linkages across six newly industrialized countries (NIC’s) of Asia, and documents the role of Japan and the US in this region. Primarily, the study finds that there are significant stock market linkages among the emerging equity markets of Hong Kong, India, Korea, Malaysia, Singapore and Thailand. While dominant relationships do exist, no country is totally insulated from market movements that emanate from other countries in the region. Furthermore, the study documents the presence of temporal instability in the transmission mechanism that coincides with the Asian economic crisis. During the period in which the NIC’s experienced rapidly rising stock valuations, Singapore and the US had dominant causal influences on these Asian markets. However, in the period of financial crisis during the latter part of the 1990s decade, Singapore’s influence is greatly diminished while shocks from other countries, most notably India, play a more dominant role. Several important policy implications are derived from the results.

Details

Managerial Finance, vol. 29 no. 4
Type: Research Article
ISSN: 0307-4358

Keywords

Access Restricted. View access options
Article
Publication date: 1 July 1999

Sanjay Ramchander, Alan Reichert and S.V. Jayanti

Notes recent dramatic growth in international banking, outlines the US historical and legal background to it and reviews previous research trying to explain why banks establish…

1281

Abstract

Notes recent dramatic growth in international banking, outlines the US historical and legal background to it and reviews previous research trying to explain why banks establish offices outside their home country. Develops a mathematical model to investigate the factors determining the extent of foreign bank penetration in the US financial market and applies it to 1984‐95 data for Canada, France, Germany, Japan and the UK. Finds that expansion abroad is positively linked to the size of the home country’s banking industry and capital market; the need to respond to domestic credit market conditions; and the levels of trade and exchange rates between countries. Discusses the differences between the individual countries studied and consistency with other research; and considers the implications for US banks.

Details

Managerial Finance, vol. 25 no. 7
Type: Research Article
ISSN: 0307-4358

Keywords

1 – 3 of 3
Per page
102050