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Mahua Barari 《International Advances in Economic Research》1997,3(1):18-36
The present study uses a two-country, two-good, stochastic general equilibrium trade model to analyze the implications of
optimal trade policy under uncertainty in the presence of financial markets. Using such a framework, I demonstrate that the
policy-active home government, acting to maximize domestic welfare, will always have incentive to revise the previously announced
import tariff policy once an asset position is taken by the representative agent in each country engaged in trade. The resulting
time-consistent solution will be sensitive to the composition of asset income. Since the fiancial contracts can be combined
in an infinite number of ways to yield the same optimal level of asset income, there will exist multiple time-consistent solutions,
one for each financial structure. Using a specific log utility function, I also show that for certain financial structures,
precommitment solutions will be replicated by time-consistent solutions, a result which marks a significant departure from
the standard deterministic framework. 相似文献
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Mahua Barari 《International Review of Financial Analysis》2004,13(5):649-668
We develop a measure of market integration score by extending the methodology of Akdogan [J. Portf. Manage. (1996) 33; J. Portf. Manage. (1997) 82] to reflect the degree of integration of domestic equity markets with other markets in and beyond the region. We empirically estimate the integration scores for a sample of six Latin American markets between January 1988 and December 2001. We find a trend towards increased regional integration relative to global integration until the mid-1990s. A distinct change in trend is noted during the second half of the 1990s, with global integration proceeding faster than regional integration. 相似文献
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Mahua Guha 《Technology Analysis & Strategic Management》2016,28(2):231-249
In this study, two levels of path dependence in the television technological system are examined: (1) How does the development of television (TV) core components affect the development of peripheral components? and (2) How does the development of complementary and substitute technologies affect the development of television technology? Results from the empirical analysis using patents from 1975 to 2004 indicate that: (a) the development of TV periphery technologies is path-dependent on the development of TV core technologies and (b) even after controlling for its own prior history, the development of the TV system is path-dependent on the development of its complementary technologies. However, there is weak evidence of the path dependence of the TV system on the development of its substitute technologies. 相似文献
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