2026
Does Central Bank Transparency Curb Foreign Currency Vulnerability?
with Muhammad Aftab
Journal of Money, Credit and Banking
2025
Foreign currency forecasting in emerging markets: What can stock and bond markets tell us?
with Ehab Yamani
Journal of Empirical Finance, 83, September 2025, 101659
2024
with Warren Bailey, Gulnur Muradoglu and Ceylan Onay
Journal of Corporate Finance
2024
Are Institutional Investors the Culprit of Rising Global House Prices?
with Chiara Banti
Real Estate Economics, 53(2), 210–265
2022
Economic Integration and Exchange Market Pressure in a Policy Uncertain World
with Muhammad Aftab
Journal of International Money and Finance, 128, Article 102701
2020
Economic Integration and the Currency and Equity Markets Nexus
with Muhammad Aftab, Rubi Ahmad and Izlin Ismail
International Journal of Finance and Economics
2019
Uncovered Equity “Disparity” in Emerging Markets
with Ana-Maria Fuertes and Cheng Yan
Journal of International Money and Finance, 98, Article 102066
2019
Global liquidity, house prices and policy responses
with Chiara Banti
Journal of Financial Stability, 43, 79–96
2017
Expropriation Risk by Block holders, Institutions and Expected Stock Returns
with Bruce Hearn and Jenifer Piesse
Journal of Corporate Finance
2016
On cross-border bank credit and the U.S. subprime crisis transmission to equity markets
with Ana-Maria Fuertes and Cheng Yan
Journal of International Money and Finance, 69, 108–134
2016
Hot Money in bank credit during the banking globalization era
with Ana-Maria Fuertes and Cheng Yan
Journal of International Money and Finance, 60, 29–52
2015
FX market illiquidity, funding liquidity constraints and international capital flows
with Chiara Banti
Journal of International Money and Finance, 56, 114–134
2013
Margin Requirements and Trading Volume
with Antonis Aristidou
European Financial Management, 19(1), 45–71
2012
Exchange Rate Pass-through into Import Prices Revisited: What drives it
with Raphael Brun-Aguerre and Ana-Maria Fuertes
Journal of International Money and Finance, 31(4), 818–845
2012
Global Liquidity Risk in the Foreign Exchange Market
with Chiara Banti and Lucio Sarno
Journal of International Money and Finance, 31(2), 267–291
2012
Order Flow and Exchange Rate Dynamics: An Application to Emerging Markets
with Kwabena Duffuor and Ian Marsh
International Journal of Finance and Economics, 17(3), 290–304
2010
Related Securities and Price Discovery: Evidence from NYSE-Listed Non-U.S. Stocks
with Piotr Korczak
Journal of Empirical Finance, 17, 566–584
2010
Asymmetric Information, Price Discovery and Macroeconomic Announcements in FX Market: Do Top Trading Banks Know More?
with Long Chen
International Journal of Finance and Economics, 15, 228–246
2009
Price Discovery in Foreign Exchange Markets: A Comparison of Indicative and Actual Transaction Prices
with Long Chen
Journal of Empirical Finance, 16, 640–654
2009
Equity Market Comovement and Contagion: A Sectoral Perspective
with Lichuan Xia
Financial Management, Summer, 381–409
2006
Sources of Firms’ Industry and Country Effects in Emerging Markets
with Lichuan Xia
Journal of International Money and Finance, 25(3), 459–475
2006
The Changing Role of Industry and Country Effects in Global Equity Markets
with Lichuan Xia
European Journal of Finance, 12(8), 627–648
2005
Stock Prices and Exchange Rate Dynamics
with Fabiola Ravazzolo
Journal of International Money and Finance, 24(7), 1031–1053
2005
Stock Market Linkages in Emerging Markets: Implications for International Portfolio Diversification
with Fabiola Ravazzolo
Journal of International Financial Markets and Institutions, 15, 91–106
2002
Measuring Financial and Economic Integration with Equity Prices in Emerging Markets
with Fabiola Ravazzolo
Journal of International Money and Finance, 21(6), 879–903
2001
Foreign Exchange Markets in Transition Economies: China
with Eric Girardin
Journal of Development Economics, 64(1), 215–235
1999
Capital Market Integration in the Pacific Region: An Impulse Response Analysis
Journal of International Money and Finance, 18(2), 267–287
1999
Price Limits and Stock Returns in the Athens Stock Exchange
with M. Kavussanos and G. Manalis
European Financial Management Journal, 5(1), 69–84
1994
Does the Real Exchange Rate Follow a Random Walk? The Pacific Basin Perspective
with Y. Kassimatis
Journal of International Money and Finance, 13(4), 476–495
1993
Money Demand, the Cagan Model and the Inflation Tax: Some Latin American Evidence
with M. P. Taylor
Review of Economics and Statistics, 75(1), 32–37
1992
The Black Market for Dollars in Chile
Journal of Development Economics, 37, 155–172
1992
Purchasing Power Parity and Co-integration: The Greek Evidence from the 1920s
Journal of International Money and Finance, 11(5), 502–513
1988
Banking in a British Colony: Cyprus 1878–1959
Business History, 30(4), October
1987
Capital Controls: the Case of Argentina 1971–84
Journal of International Money and Finance, (3), 303–320