Management and protection of proprietary intangible assets such as technology and management skills is important for firms considering international expansion via joint ventures. Joint venture partners have incentives to appropriate intangible property. Also many governments have instituted policies to help domestic firms maximise technology spillovers. Some require foreign firms interested in ...

We characterized low pathogenic avian influenza (LPAI) H5N2 and H9N2 viruses isolated in South Korea from 2008 to 2009. Genetic analysis of the H5N2 viruses isolated from wild birds and domestic ducks demonstrated that they were related to the recently isolated southern Chinese LPAI H5 viruses and various influenza viruses circulating in Eurasia. Three H9N2 viruses obtained at live bird markets...

The wave of globalisation over the last decades finds its centre in the international financial system. The deregulation of financial markets led to an enormous amount of new innovations and an explosion of international capital flows. Deregulation of financial systems started in the developed world in the 1970s. However, with a time lag most developing countries and later the countries of the ...

The study investigates whether the financial liberalization undertaken in India has resulted in integration of Indian markets with global markets. First, we investigate covered interest rate parity (CIP) between India and the US using 3 month interbank interest rates and 1 year swap rates. The results show little evidence of a long term equilibrium relationship between the domestic interest rat...

This paper shows that a strategic but purely competitive e ect of multi-market contact (MMC) can change the quantity provided by a multimarket rm by as much as 50%. Multi-market rms serve some but not all of their rivals' markets. As a result, a rm's reaction to rivals' actions in one market depends on the conditions in other markets served by the rm. Moreover, a rm's move in one market may a e...

Industry and Energy Department ▪ Vice Presidency for Finance and Private Sector Development Despite the huge opportunities opening up from new technology, competitive markets, and the globalization of production and trade, governments in many emerging economies have been reluctant to introduce much competition in their domestic telecommunications markets. Services are largely restricted to basi...

We investigate the degree to which the wheat markets of France, Germany and the United Kingdom are in spatial equilibrium and how reforms to the CAP affect the speed of convergence to the long run relationship. Due to the interrelationship among these markets and the nonstationarity of our data we introduce a seemingly unrelated regression augmented Dickey-Fuller and error correction methodolog...

It is commonly believed that a fiscal expansion raises interest rates. However, these crowding out effects of deficits have been found to be small or non-existent. One explanation is that financial integration offsets interest rate differentials on globalised bond markets. This paper measures the degree of integration of government bond markets, using spatial modelling techniques to take this s...

In global economics, nations are often faced with the opportunity to open or close new avenues of trade or to join new markets. These actions can be beneficial or harmful for a nation because entering a market exposes that nation to the perturbations caused by others in the market. However, joining a new market offers the benefit of lower prices and increased security against domestic perturbat...

This study attempts to investigate the transmission of market-wide volatility between the equity markets and bond markets of Japan and the U.S. To measure the volatility transmission, the BEKK method, a decomposition approach of the multivariate GARCH (1,1) model, is used to examine the cross-market contemporaneous effect of information arrival. The time series analysis provides evidence to the...