International Advances in Economic Research

International
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Economic
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VOLUME 9	FEBRUARY 2003	NUMBER 1	E-Mail: iaes@iaes.org
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TABLE OF CONTENTS

ARTICLES
Communications Networks and Virtual Economic Integration: The Case of Three Countries Toru Kikuchi and Chiharu Kobayashi	1
Does Exchange-Rate Volatility Depress Export Flows: The Case of LDCs Augustine C. Arize, John Malindretos, and Krishna M. Kasibhatla	7
Capital Asset Pricing Models with Default Risk: Theory and Application in Insurance Yueyen Chen, Iskandar S. Hamwi, and Tim Hudson	20
Exchange-Rate and Long-Run Equilibrium in Transition Economies Jordi Sarda Pons and Jose Perez Lacasta	35
Banking in a New World Order Ann B. Matasar	48
Interest Risk and Default Risk: A Conditional Volatility Study Francisco Escribano Sotos	56
Budget Deficits and Interest Rates in Germany Richard J. Cebula	64
Mean Spillover Effects in Agricultural Prices: Evidence from Changes in Policy Regimes Nicholas Apergis and Anthony Rezitis	69
Spanish Regional Policy: Economic and Social Cohesion in the European Union Isabel Pardo Garcia	79
RESEARCH NOTES
Long-Run Determinants of the Real Exchange Rate for MENA Countries Imed Drine and Christophe Rault	84
Domestic Territorial Specificity and Organization of Inward FDI Alain Nurbel	84
The Trade-Creating Effects of Capital Flow Liberalization Joshua Lewer and Neil Terry	85
The Inefficiency of Firm-Augmenting Public Input Versus the Inapplicability of Provision Rules Carsten Colombier	85
A Postscript on Colleges in Collusion Paul M .Sommers	85
The Effect of California's Daily Overtime Law on Hours of Work: A Re-examination Thomas C. Buchmueller and Sarah Senesky	86
A Qualitative Approach of How Begian Managers Conceive Competitiveness Joseph Goczol, Alain Balasse, and Chantal Scoubeau	86
Short-Run Elasticity of Relative Demand for Petroleum Inventory Michael Ye, John Zyren, and Joanne Shore	87

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Suggested Citation
International Advances in Economic Research, Volume 9, Number 1, February 2003

An official publication of the International Atlantic Economic Society