Showing 1 - 10 of 327
The purpose of this paper is to explore the implications of the deepening presence of multinationals in emerging markets on the cost of macroeconomic volatility there. We find that macroeconomic volatility has a potentially large impact on employment and investment decisions of multinationals...
Persistent link: https://www.econbiz.de/10012469306
This paper examines how external finance dependence, financial development, and institutions influence brownfield foreign direct investment (FDI). We develop a model of cross-border acquisitions in which the foreign acquirer's choice of ownership structure reflects a trade-off between easing...
Persistent link: https://www.econbiz.de/10011813330
This article estimates a dynamic structural model of firm R&D investment in twelve Swedish manufacturing industries and uses it to measure rates of return to R&D and to simulate the impact of trade restrictions on the investment incentives. R&D spending is found to have a larger impact on firm...
Persistent link: https://www.econbiz.de/10012482206
The new trade theory emphasizes the role of market-share reallocations across firms ("stealing") in driving productivity growth, while the older literature focused on average productivity improvements ("learning"). We use comprehensive, firm-level data from India's organized manufacturing sector...
Persistent link: https://www.econbiz.de/10012461925
Existing standards prohibit disclosures of internally created intangible capital to firm balance sheets, resulting in a downward bias of reported assets. To characterize off-balance sheet intangible assets, we use transaction prices to estimate this missing intangible capital. On average, our...
Persistent link: https://www.econbiz.de/10012479910
Many important markets, such as the housing market, involve goods that are both indivisible and of budgetary significance. We introduce new graph theoretic techniques ideally suited to analyzing such markets. In this paper and its companion (Caplin and Leahy [2010]), we use these techniques to...
Persistent link: https://www.econbiz.de/10012462373
Many studies measure capital stocks and effective tax rates for different industries, but they consider only tangible assets such as equipment, structures, inventories, and land. Some of these studies also have estimated that the welfare cost of tax differences among these assets under prior law...
Persistent link: https://www.econbiz.de/10012476637
matched firm-level customs and manufacturing survey data, together with Input-Output tables for China, to examine how Chinese … production stages conducted in China over the 1992-2014 period, both in the aggregate and within firms over time. Firms span more …
Persistent link: https://www.econbiz.de/10012481098
The 2005 split-share reform in China mandated the conversion of nontradable stocks into tradable status. This paper …
Persistent link: https://www.econbiz.de/10012458543
We analyze how China's emergence as a destination for foreign direct investment is affecting the ability of other … countries to attract FDI. We do so using an approach that accounts for the endogeneity of China's FDI. The impact turns out to … vary by region. China's rapid growth and attractions as a destination for FDI also encourages FDI flows to other Asian …
Persistent link: https://www.econbiz.de/10012467348