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An Investigation Into The Validity Of The Intra-Continental And Intercontinental Casselian Hypothesis (Ppp) And Uncovered Interest Rate Parity (Uip) In Southern African Development Community (Sadc) Countries A Long Run Structural Modelling Approach, Fidelia M. Gandiya
Theses: Doctorates and Masters
The current high exchange rate volatility in the face of globalization, underpinned by growing trade and financial and commodity markets liberalization has attracted the resurgence of considerable interest from both financial economists and policy makers, into the validity of international parity relationships. Using multivariate cointegration framework and long run structural modelling, this paper investigates the evidence in support of two of the parity relationships that underpin either implicitly or explicitly much of international macroeconomics. The first is the purchasing power parity (PPP) hypothesis or the theorem that there exists an invariable long-run equilibrium real exchange rate. The second is the …
Finding The True Performance Of Australian Managed Funds, Victor Soucik
Finding The True Performance Of Australian Managed Funds, Victor Soucik
Theses: Doctorates and Masters
When making conclusions about the performance of managed funds, it is critical that the framework in which such performance is measured provides an accurate and unbiased environment. In this thesis I search for true performance of the two major classes of funds- equity as well as fixed interest managed funds. Focusing, first on the former class, I examine five measurement models across three risk-free proxies, nine benchmarks proposed by the extant literature (covering conditional and unconditional as well as single and multi factor definitions) and over three independent periods in an effort to identity (in a consistent setting) the most …