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China's increased trade with and investment in Africa have boosted the continent's economic growth but have also … generated considerable controversy. In this paper we investigate China's outward direct investment ODI in Africa using macro and … micro data. The aggregate data on China's ODI in African countries reveal that China's share of the stock of foreign …
Persistent link: https://www.econbiz.de/10011485198
China has defied the declining trend in domestic content in exports in many countries. We study China's rising domestic … aggregation bias. We find that the substitution of domestic for imported materials by individual processing exporters caused China …
Persistent link: https://www.econbiz.de/10011387484
firms in China over 2004-2007, we find that foreign affiliates from countries with a more gender-equal culture tend to … raises China's aggregate total factor productivity by 5%, of which spillovers from multinationals account for 19%. …
Persistent link: https://www.econbiz.de/10011587967
Given buoyant capital inflows and managed exchange rates the majority of emerging market central banks have continued to accumulate massive foreign reserves. If left unsterilized, the liquidity expansion can threaten domestic macroeconomic stability. To contain domestic inflation these central...
Persistent link: https://www.econbiz.de/10003994520
Persistent link: https://www.econbiz.de/10003599390
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This paper explores the link between monetary policies of large industrial countries and international credit cycles. Based on an overinvestment framework, we show that in the prevailing asymmetric world monetary system, monetary policies of large centre countries can fuel credit booms in...
Persistent link: https://www.econbiz.de/10010337620
Since a series of crisis events after 2007, the discussion about the adjustment channels of current account imbalances has been revived. We discuss the effectiveness of exchange rates versus macroeconomic policies to rebalance current accounts for a set of 86 mainly emerging market economies. We...
Persistent link: https://www.econbiz.de/10010431297
Currencies of countries with persistent current account surpluses and high foreign currency denominated assets such as the Swiss franc and Japanese yen are under a persistent appreciation pressure, what restricts the degree of freedom in the choice of exchange rate regime. Official announcements...
Persistent link: https://www.econbiz.de/10011392509
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