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Exports versus FDI in German manufacturing: firm performance and participation in international markets
Arnold, Jens Matthias; Hussinger, Katrin - Deutsche Bundesbank - 2006
This paper tests some of the predictions of recent advances in trade theory that have focused on different trade patterns of firms within the same sector. Helpman, Melitz and Yeaple (2005) develop a model in which innate productivity differences between firms determine the degree of...
Persistent link: https://www.econbiz.de/10005083169
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Tax incentives and the location of FDI: evidence from a panel of German multinationals
Buettner, Thiess; Ruf, Martin - Deutsche Bundesbank - 2005
Using a firm-level dataset this paper investigates the impact of taxation on the decision of German multinationals to hold direct investments in other European countries or abroad. Controlling for firm-specific differences in the valuation of potential locations, the results confirm significant...
Persistent link: https://www.econbiz.de/10005083194
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Trade balances of the central and east European EU member states and the role of foreign direct investment
Herrmann, Sabine; Jochem, Axel - Deutsche Bundesbank - 2005
analysis with aggregated data indicates that in the eight central and east European EU member states FDI and trade are … complementary. This result is confirmed by an FDI enhanced gravity model which makes use of sectoral data provided by the Bundesbank …'s micro database direct investment (MIDI). The net effect of FDI on the trade balance is ambiguous, but FDI in high …
Persistent link: https://www.econbiz.de/10005083271
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Lucas paradox and allocation puzzle: Is the euro area different?
Herrmann, Sabine; Kleinert, Jörn - Deutsche Bundesbank - 2014
This paper examines the Lucas Paradox and the Allocation Puzzle of international capital flows referring to a panel data set of EMU countries and major industrialized and emerging economies. Overall, the results do not provide evidence in favour of the Lucas Paradox and the Allocation Puzzle....
Persistent link: https://www.econbiz.de/10011104989
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Financial markets and the current account: emerging Europe versus emerging Asia
Herrmann, Sabine; Winkler, Adalbert - Deutsche Bundesbank - 2008
Financial globalisation has been associated with divergent current account patterns in emerging market economies. While countries in emerging Asia have been running sizeable current account surpluses, countries in emerging Europe have been facing large current account deficits. In this paper we...
Persistent link: https://www.econbiz.de/10005059032
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Determinants of German Foreign Direct Investment in Latin American and Asian Emerging Markets in the 1990s
Wezel, Torsten - Deutsche Bundesbank - 2003
Many empirical studies in the area of foreign direct investment (FDI) exclusively focus on flows between industrialized … countries. This article makes a contribution to the still relatively sparse literature on FDI in emerging markets by estimating … determinants of German FDI flows to Latin America and Asia during the past decade. Using data contained in a newly available …
Persistent link: https://www.econbiz.de/10005083150
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Business cycles and FDI: evidence from German sectoral data
Buch, Claudia M.; Lipponer, Alexander - Deutsche Bundesbank - 2005
the period 1989-2002. We find that German outward FDI increases in response to positive cyclical developments abroad and …
Persistent link: https://www.econbiz.de/10005083107
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The discontinuous integration of Western Europe's heterogeneous market for corporate control from 1995 to 2007
Frey, Rainer - Deutsche Bundesbank - 2010
As, in Europe, many institutional reforms have been undertaken to establish an economic union, it can be expected that the relevance of borders has decreased over time. For the EU 15, we investigate the expected integration process of the market for corporate control - an illustrative market for...
Persistent link: https://www.econbiz.de/10008611435
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Banking across borders
Niepmann, Friederike - Deutsche Bundesbank - 2013
Banking across borders has risen substantially over the past two decades. Yet there is significant heterogeneity in the international and global activities of banks across countries. This paper develops and tests a theoretical model that explains this variation from an international trade theory...
Persistent link: https://www.econbiz.de/10010957150
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Location choice and employment decisions: a comparison of German and Swedish multinationals
Becker, Sascha O.; Ekholm, Karolina; Jäckle, Robert; … - Deutsche Bundesbank - 2005
Using data for German and Swedish multinational enterprises (MNEs), this paper assesses international employment patterns. It analyzes determinants of location choice and the degree of substitutability of labor across locations. Countries with highly skilled labor forces attract German MNEs, but...
Persistent link: https://www.econbiz.de/10005083075