Working Papers
ERF Working papers are a quick and efficient way of sharing research work to disseminate knowledge, receive feedback, obtain preliminary recognition, and ultimately, to prepare publications.
Latest Working Papers
Full List of Working Papers
Finance and Growth: Empirical Evidence from Developing Countries 1960-1990
This paper examined the empirical relationship between financial intermediation and economic growth using cross-country and... Read More
Initial and Aftermarket Performance of Egyptian Share Issue Privatization
The phenomenon of under pricing initial public offerings is documented for 53 Egyptian share issue... Read More
Household Demand in Turkey: An Application of Almost Ideal Demand System with Spatial Cost Index
A common difficulty in estimating demand functions for developing countries is the lack of time... Read More
TFP and Economic Potential of The Tunisian Economy
In this paper we try to measure and to explain total factor productivity (TFP) growth... Read More
The Long-Run Validity of Monetary Exchange Rate Model for A High Inflation Country and Misalignment: The Case of Turkey
This paper applies the Johansen cointegration technique to examine the validity of the monetary model... Read More
The Impact of Automation on Liquidity, Volatility, Stock Returns and Efficiency: Evidence from the Tunisian Stock Market
This paper studies the impact of Tunis stock exchange automation on liquidity, volatility and stock... Read More
Dvidend Signaling Hypothesis and Short-Term Asset Concentration of Islamic Interest-free Banking
This paper finds that dividend signaling hypothesis is able to explain the phenomenon of assets... Read More
Before The Fall Was The Turkish Lira Overvalued?
This paper examines validity of purchasing power parity to evaluate whether the Turkish Lira was... Read More
Does the Exchange Rate Regime Affect Expectation Formation in the Foreign Exchange Market? The Case of a Currency that is Pegged to a Basket
An attempt is made to identify the expectation formation mechanism dominating the foreign exchange market... Read More