Showing 1 - 10 of 67
’s capital stock. Greenfield FDI should therefore have a stronger impact on growth than M&A sales. This hypothesis is supported … by our empirical results, which show that greenfield FDI enhances growth, while M&As have no effect, at best, in a panel …
Persistent link: https://www.econbiz.de/10010968972
In this paper, we evaluate the impact of creditor rights and political risk on both the number and the value of cross-border M&A flows in a gravity model using a negative binomial model and Heckman’s two-stage selection model, respectively. Our results confirm that creditor-friendly rules and...
Persistent link: https://www.econbiz.de/10008468448
This paper investigates whether financial intermediary development influences macroeconomic technical efficiency on a sample of 47 countries, both developed and developing, over 1980-1995. We do so by applying Battese and Coelli (1995)’s method at the aggregate level. It is found that...
Persistent link: https://www.econbiz.de/10005558907
This paper reviews the economic effects of the EU Savings Taxation Directive. The Directive aims at enabling taxation of foreign interest payments received by individuals in accordance with the rules of their State of residence. The data suggest that the Directive, which is based on automatic...
Persistent link: https://www.econbiz.de/10004998183
this paper, we argue that that relationship depends on the global volume of FDI. After providing a simple model and … theoretical arguments suggesting that the relationship should be weaker when there is more FDI worldwide, we observe, in a large … sample of countries, that the sensitivity of the distribution of FDI inflows to local political risk is indeed a decreasing …
Persistent link: https://www.econbiz.de/10008468452
FDI. The analysis is conducted for total FDI and for FDI in manufacturing. The results show that trade and foreign … exchange liberalization, infrastructure availability and sound economic and political conditions increase FDI inflows. Their … effects are much higher for FDI in the manufacturing sector than for total FDI. This result is robust to alternative …
Persistent link: https://www.econbiz.de/10005558919
The paper investigates whether the impact of the Single Market Program (SMP) on FDI inflows to Europe is different …
Persistent link: https://www.econbiz.de/10005146705
In this paper we investigate the causal effect of immigration on trade ows using Italian panel data at the province level. We exploit the exceptional characteristics of the Italian data (the fine geographical disaggregation, the very high number of countries of origin of immigrants, the high...
Persistent link: https://www.econbiz.de/10010618066
This paper investigates the role of a free press and of the circulation of information on the capacity of a country to declare an exchange regime that is different from the regime it de facto implements. We put forward consistent evidence that increased press freedom and easier access to...
Persistent link: https://www.econbiz.de/10009294065
In this online appendix, we provide extra evidence complementing our paper “Mark My Words: Information and the Fear of Declaring an Exchange Rate Regime”: we control for electoral competitiveness, law and order, and central bank independence; we drop countries with high capital controls, and...
Persistent link: https://www.econbiz.de/10010968966