Japanese corporations and American and European corporations take different approaches when it comes to business in China in general : (i) American corporations are concentrated in the music, motion picture, and software industries, so they have a particular interest in solving copyright...

We examine the eect of strategic sale the sale of banks to strategic foreign investors on banks performance. The Government of Indonesia implemented such a policy as a part of bank restructuring in the aftermath of the 1998 banking crisis. Using difference-in-difference models, we find that...

This paper provides an empirical explanation to the observed disparity in cross-border M&A inflows to developing and developed countries over the last two decades. We show two main results. First, the disparity can be attributed to the difference in the quality of institutions between the two...

It has been widely recognized that financial liberalization plays an important role in economic development. Although an expanding body of literature has documented this effect across space and time, the channel through which financial liberalization affects the economic growth remains unclear....

Using dynamic panel data models, we examine the effect of capital requirement on banks behavior in Indonesia. We find inconclusive results. Some banks tend to comply with capital requirement : They increase their capital ratio when their CAR is lower than, or falling towards, the eight percent...

This paper examines the macroeconomic determinants of cross border M&As. Using a panel data set of bilateral M&A deal values for 101 countries and 17 years ranging from 1989 to 2005, we investigate both home and host country factors that may play an important role in determining the size and...

This paper aims at assessing the performance of the inflation targeting framework from the quantitative perspective of the money and inflation relationship, focusing on the four East Asian economies, i.e. Korea, Indonesia, Thailand and the Philippines, who adopted the inflation targeting...

This paper introduces an environmental policy variable, i.e. the provincial pollution levy paid by an average firm, and measure its impact on the foreign investors' location decisions over the 1987 to 1998 period. We argue that less developed regions in China are more inclined to sacrifice...

Rose (2004) showed that the WTO or its predecessor, the GATT, did not promote trade, based on conventional econometric analysis of gravity-type equations of trade. We argue that conclusions regarding the GATT/WTO trade effect based on gravity-type equations are arbitrary and subject to...

The efficiency of 119 electric cooperatives in the Philippines from 1990-2002 is analyzed using a stochastic frontier model augmented with spatial-temporal terms, addressing the underestimation of technical efficiency usually encountered among maximum-likelihood based methods. The model is also...