Lee, Bong-Soo; Min, Byung S. - In: Pacific-Basin Finance Journal 19 (2011) 5, pp. 586-603
We examine the role of both the volatility and levels of exchange rates in the determination of multinational enterprises' (MNEs) investments using a unique Korean dataset. These data provide a natural laboratory due to the Korean experience of a severe financial crisis in the late nineties. We...