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The Chinese Approach to Capital Inflows; Patterns and Possible Explanations

Wei, Shang-Jin; Prasad, Eswar - International Monetary Fund (IMF) - 2005

In this paper, we adopt a cross-country perspective to examine the evolution of capital flows into China, both in terms of volumes and composition. China's inflows have generally been dominated by foreign direct investment (FDI), a pattern that appears to be favorable in light of the recent...

Persistent link: https://www.econbiz.de/10005263846

A New Look at Exchange Rate Volatility and Trade Flows

Clark, Peter B.; Wei, Shang-Jin; Tamirisa, Natalia T.; … - International Monetary Fund (IMF) - 2004

The effect of exchange rate volatility on trade flows was examined by a 1984 IMF study on G-7 countries. Over the past two decades, many developments in the world economy, such as the currency crises in the 1990s and increasing cross-border capital flows, may have exacerbated exchange rate...

Persistent link: https://www.econbiz.de/10005767343

The WTO Promotes Trade, Strongly But Unevenly

Wei, Shang-Jin; Subramanian, Arvind - International Monetary Fund (IMF) - 2003

This paper furnishes robust evidence that the GATT/WTO has had a powerful and positive impact on trade. The impact has, however, been uneven. GATT/WTO membership for industrial countries has been associated with a large increase in imports estimated at about 40 percent of world trade. The same...

Persistent link: https://www.econbiz.de/10005599641

Service offshoring, Productivity, and Employment; Evidence From the United States

Amiti, Mary; Wei, Shang-Jin - International Monetary Fund (IMF) - 2005

This paper estimates the effects of offshoring on productivity in U.S. manufacturing industries between 1992 and 2000 …, using instrumental variables estimation to address the potential endogeneity of offshoring. It finds that service offshoring … during this period. Offshoring material inputs also has a positive effect on productivity, but the magnitude is smaller …

Persistent link: https://www.econbiz.de/10005768861

Financial Globalization; A Reappraisal

Kose, M. Ayhan; Prasad, Eswar; Rogoff, Kenneth; Wei, … - International Monetary Fund (IMF) - 2006

The literature on the benefits and costs of financial globalization for developing countries has exploded in recent years, but along many disparate channels and with a variety of apparently conflicting results. For instance, there is still little robust evidence of the growth benefits of broad...

Persistent link: https://www.econbiz.de/10005263828

Endowment Versus Finance; A Wooden Barrel Theory of International Trade

Ju, Jiandong; Wei, Shang-Jin - International Monetary Fund (IMF) - 2005

This paper develops a theory of international trade in which financial development and factor endowments jointly determine comparative advantage. We apply the financial contract model of Holmstrom and Tirole (1998) to the Heckscher-Ohlin-Samuelson (HOS) model in which firms' dependence on...

Persistent link: https://www.econbiz.de/10005826674

Collateral Damage; Exchange Controls and International Trade

Zhang, Zhiwei; Wei, Shang-Jin - International Monetary Fund (IMF) - 2007

While new conventional wisdom warns that developing countries should be aware of the risks of premature capital account liberalization, the costs of not removing exchange controls have received much less attention. This paper investigates the negative effects of exchange controls on trade. To...

Persistent link: https://www.econbiz.de/10005769285

Effects of Financial Globalization on Developing Countries; Some Empirical Evidence

Kose, M. Ayhan; Rogoff, Kenneth; Prasad, Eswar; Wei, … - International Monetary Fund (IMF) - 2003

This study provides a candid, systematic, and critical review of recent evidence on this complex subject. Based on a review of the literature and some new empirical evidence, it finds that (1) in spite of an apparently strong theoretical presumption, it is difficult to detect a strong and robust...

Persistent link: https://www.econbiz.de/10005590880

Fear of Service Outsourcing; Is it Justified?

Amiti, Mary; Wei, Shang-Jin - International Monetary Fund (IMF) - 2004

The recent media and political attention on service outsourcing from developed to developing countries gives the … impression that outsourcing is exploding. As a result, workers in industrial countries are anxious about job losses. This paper … aims to establish what are the hypes and what are the facts. The results show that although service outsourcing has been …

Persistent link: https://www.econbiz.de/10005599322

Limiting Currency Volatility to Stimulate Goods Market Integration; A Price-Based Approach

Parsley, David C.; Wei, Shang-Jin - International Monetary Fund (IMF) - 2001

This paper studies the effect of instrumental and institutional stabilization of exchange rate volatility on the integration of goods markets. Rather than using data on volume of trade, this paper employs a 3-dimensional panel of prices of 95 very disaggregated goods (e.g., light bulbs) in 83...

Persistent link: https://www.econbiz.de/10005604996