Money, Trade and Finance

This book analyses several aspects on the efficient resource allocation in the aftermath of the global financial crisis and the European sovereign debt crisis. The main focus of the volume is on recent European Union (EU) experience highlighting the interrelation between inherent structural rigidities and practical limitations in the conduct of sound economic policy. Special reference is made to Greece (evidencing unprecedented experience), the EU periphery countries and the US. This book will be of interest to academic and central bank researchers, business practitioners (in consultancy and finance) and graduate students, as it is a good example of how scholarly dialogue can contribute to contemporary high-quality policy debate on sound liquidity provision and financial stability in the Eurozone, as well as the effective ways to combat recession in the EU periphery countries.

Investigates the latest global financial crisis in 2008 and the resultant European debt crisis to highlight the significance of financial conditions to a contemporary economy Addresses the topics related to finance and macroeconomics, trade flows and international factor mobility, policy analysis and business practice Explores an essential idea in economic analysis, effective and efficient resource allocation, across a number of disciplines in the field, namely macroeconomic, monetary and financial analysis, industrial organization, international trade and econometric modelling

Autorentext

Ioanna T. Kokores is Assistant Professor at the Department of Economics, University of Piraeus, Greece. She was awarded the academic distinction of "International Atlantic Economic Society Member of the Month - June 2017" (USA) for her contribution to research.

Pantelis Pantelidis is Vice Rector f Administrative, Academic and Student Affairs at the University of Piraeus since 2014 and a Professor of Economics at the Department of Economics, University of Piraeus, Greece

Theodore Pelagidis is Deputy Governor of the Bank of Greece and Professor of Economics at the Department of Maritime Studies, University of Piraeus, Greece. He has been a NR Senior Fellow at the Brookings Institution (2012 - 2020), an NBG Fellow at the Hellenic Observatory, LSE (2010), a Fulbright Fellow at Columbia University (2008) and a NATO scholar at the Center for European Studies, Harvard University (1996).

Demetrius Yannelis is Professor of Economics and former Head of the Department of Economics (2015-2020), University of Piraeus, Greece. He has served as Member at the Executive Council of the Center of Planning and Economic Research, Greece (2004-2009), and of the Hellenic Competition Committee, Greece (2006-2009).

Inhalt

1. Financial Integration, Bank Competition and Intra-Eurozone Foreign Direct Investment.- 2. Export Margins, Employment Skills and Financial Conditions: Stylized Facts from Greek Exporters.- 3. Why a revival of Greek manufacturing is a prerequisite to ensure a prosperous future for the country and how to achieve it.- 4. Greek Shipping Receipts Revisited: A Freight market and Country Risk Perspective.- 5. Fiscal policy and growth in the Euro area periphery: Does the business cycle matter?.- 6. Monetary Policy and Systemic Risk: USA evidence.- 7. What Drives the Default Risk of Restructured Loans.- 8. Regime Switches in the Yield Curve-Credit Spread Relationship and the Prediction of Recessions.- 9. A Comparison Study of Least Squares and Ridge Estimators in the Presence of Heteroscedasticity and Multicollinearity under Normal and Nonnormal Disturbances.- 10. The Effects of Temporal Aggregation and Systematic Sampling, on the Power of the Augmented Dickey Fuller Stationarity Test: A Monte Carlo Study.- 11. Revisiting the Environmental Kuznets Curve Hypothesis: A Dynamic Panel VAR Analysis.- 12. International expansion strategies: Developing some research prepositions on the scope and speed of the path of internationalization.