In this paper we estimate a time-series model of the financial asset portfolio shares in Egypt, distinguishing between assets of varying degrees of liquidity and between domestic currency and foreign currency deposits. While financial liberalization and financial stability are found to have encouraged domestic residents to increase the share of their portfolio composed of domestic currency asse...

Decentralization facilitates more efficient use of local information but also can lead to agency problems and commitment failures. This paper develops simple models of a twotier hierarchy (the center vs. the local) to study the optimal division of lending authority between central and local bank managers. Using a unique data set collected by the authors from a survey of rural financial institut...

This paper processes 76 household surveys from 17 Latin American countries to document changes in poverty and inequality during the 1990s, and performs an analysis of the effect of economic reforms on inequality and poverty by using an expanded data base of 94 surveys spanning the 1977-2000 period. We show that there is no country in Latin America where inequality declined during the 1990s. Pov...

This paper fist examines three set of bivariate cointegrations between any two of current accounts, stock markets, and currency exchange markets in ten Asian countries. Furthermore, we examined the effect of country characters on this bivariate cointegration. Our findings suggest that for three sets of cointegration test, each sample country at least exists one cointegration. India consistently...

1 This paper examines the impact of trade liberalization on poverty reduction in Bangladesh by using Computable General Equilibrium (CGE) analysis. By using CGE analysis we see that WTO and SAFTA have a positive impact of increasing in household welfare in Bangladesh through increasing in household consumption in Bangladesh. The major findings of two simulation results show that under the compl...