This paper investigates the impact of domestic investor protection on equity cross-border investment. We bring to light the lower sensitivity of foreign investment to destination countries’ corporate governance for those investors enjoying a higher degree of investor protection at home. This...

Does country transparency affect international portfolio investment? We examine this question by constructing new measures of transparency and by making use of a unique micro dataset on portfolio holdings of emerging market funds around the world. We distinguish between government and corporate...

We construct macro-and micro-panel data on international bank lending to six Asian economies—Indonesia, Korea, Malaysia, Philippines, Singapore, and Thailand—over the period 2000 to 2010 to analyze a number of objectives. The paper first examines the critical determinants not only to overall...

This paper examines how the external information environment in which foreign subsidiaries operate affects the investment decisions of multinational corporations (MNCs). We hypothesize and find that the investment decisions of foreign subsidiaries in country-industries with more transparent...

We use changes in Brazil's tax on capital inflows from 2006 to 2011 to test for direct portfolio effects and externalities from capital controls on investor portfolios. The analysis is structured based on information from investor interviews. We find that an increase in Brazil's tax on foreign...

This paper analyzes the drivers of international waves in capital flows. We build on the literature on “sudden stops” and “bonanzas” to develop a new methodology for identifying episodes of extreme capital flow movements using quarterly data on gross inflows and gross outflows,...

In diesem Beitrag wird erstens die These aufgestellt, dass die konjunkturelle Erholung in der Eurozone allein auf die Ankündigung des OMT-Programms (Outright Monetary Transactions) durch die EZB zurückzuführen ist. Zweitens wird dargelegt, dass die Sparpolitik eine nicht tragbare Verschuldung...