In the past few years, there have been several new developments in the way real estate investment trusts (REITs) access capital. There has been an increasing trend toward the use of unsecured debt, and REITs may also alter their dividend policy in order to generate capital internally to the extent they can. There has been little empirical research into the market's reaction to unsecured debt an...

Remittances have been a crucial component in the lives of Nepali people since beginning 20th century. Despite their importance, remittances only gained attention scholars and policymakers towards end More recently, become linked to global financial inclusion agenda what has termed ‘financialisation remittances’. This article proposes temporal spatial shift explore historical antecedents financi...

51_10 Representing the second largest source of external funding for developing countries, remittances – money transfers by migrants to their relatives or other persons in countries of origin – are recognized by governments and international organizations as important tools for reducing household poverty and enhancing local development.1 However, it is often implicitly assumed in research, poli...

Currency crises that coincide with banking crises tend to share at least three elements. First, banks have a currency mismatch between their assets and liabilities. Second, banks do not completely hedge the associated exchange rate risk. Third, there are implicit government guarantees to banks and their foreign creditors. This paper argues that the "rst two features arise from banks' optimal re...

In this paper we study some aspects of North Korean economy through her import behavior. We have found that for North Korean economy some non-market factors are important determinants of the import behavior. Those non-market factors are the country’s political situations, its political relation with two communist superpowers, and its relation with the Western industrialized countries especially...

Assets, debts and other financial products issued by emerging countries are usually considered more speculative than those issued by developed economies. Therefore, relying on traditional rating agencies to invest in these countries is problematic as the information used to assess the economic and market condition in these economies is quickly outdated. Consequently, both the investment opportu...

Financial markets reveal information through which firm managers increase the value of equity, e.g., by improving investment decisions. With debt, however, such decisions are not necessarily socially efficient. We demonstrate that investors’ endogenous information acquisition, acting through this feedback channel, attenuates risk-shifting but amplifies debt overhang. The most ex-ante inefficien...

The relatively high level of Nigeria’s external indebtedness, and rising debt burden which has serious implications on the country’s development and debt sustainability in terms of ability to pay has led to continued deterioration in Nigeria’s economic performance. This study examines the extent to which Nigeria’s external debt relates to indices of ability to pay in order to ascertain the sust...

workers’ remittances constitute one of the most important sources of external finance for many developing countries. although it shows a decreasing trend in recent years, egypt after 1970s with her regular and massive labor migration to abroad has been still one of the gainer countries on remittances across the world. empirical studies that implemented for various countries reveal workers’ remi...