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Foreign Direct Investment vs. Foreiegn Portfolio Investment
Goldstein, Itay - 2005
The paper develops a model of foreign direct investments (FDI) and foreign portfolio investments (FPI). FDI is characterized by hands-on management style which enables the owner to obtain relatively refined information about the productivity of the firm. This superiority, relative to FPI, comes...
Persistent link: https://www.econbiz.de/10012467640
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International Capital Movements Under Uncertainty
Grossman, Gene M. - 1983
, by the asset preferences of risk averse consumer-investors. In a one-good variant in the spirit of the MacDougall model …
Persistent link: https://www.econbiz.de/10012478028
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Crash Risk in Currency Markets
Farhi, Emmanuel - 2009
expected exchange rate depreciations (appreciations) for high (low) interest rate currencies, suggesting that disaster risk is … priced in currency markets. To study the price of disaster risk, we propose a simple structural model that includes both … Gaussian and disaster risk and can be estimated even in samples that do not contain disasters. Estimating the model over the …
Persistent link: https://www.econbiz.de/10012463588
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Equity Prices and Equity Flows : Testing Theory of the Information-Efficiency Tradeoff
Razin, Assaf - 2010
The paper tests three hypotheses concerning foreign equity investment in the presence of liquidity risk. First, the FDI …-to-FPI price differential is negatively related to liquidity risk (the "Price Discount Hypothesis"). The idea is that market …
Persistent link: https://www.econbiz.de/10012462005
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Taxation in the global economy : [papers presented at a conference, held in Nassau, the Bahamas on 23 - 25 February 1989]
Razin, Asaf (ed.); Razin, Assaf (ed.) - 1990 - 1. [print.]
Persistent link: https://www.econbiz.de/10000801145
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Speculative growth : hints from the US economy
Caballero, Ricardo J. (contributor);  … - 2004 - [Elektronische Ressource]. - Rev
Persistent link: https://www.econbiz.de/10002111075
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Do Debt Flows Crowd Out Equity Flows Or the Other Way Round?
Razin, Assaf - 2000
In the presence of asymmetric information, the stage at which financing decisions are made about investment projects in a small open economy is crucial for the composition of international capital inflows as well as for the efficiency of channeling savings into investment. This paper compares...
Persistent link: https://www.econbiz.de/10012471014
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Excessive FDI Flows Under Asymmetric Information
Razin, Assaf - 1999
In Razin, Sadka and Yuen (1998, 1999a), we explored the policy implications of the home-bias in international portfolio investment as a result of asymmetric information problems in which domestic savers, being 'close' to the domestic market, have an informational advantage over foreign portfolio...
Persistent link: https://www.econbiz.de/10012471385
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Unskilled Migration : A Burden or a Boon for the Welfare State
Razin, Assaf - 1999
In a static setup, migration of unskilled labor may be resisted by the entire native-born population because, being relatively low earners, migrants are net beneficiaries of the fiscal system. However, the paper shows that with a pay-as-you-go pension, an important pillar of the welfare state,...
Persistent link: https://www.econbiz.de/10012471787
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The Limited Viability of Dual Exchange-Rate Regimes
Frenkel, Jacob A. - 1986
This paper examines the viability of dual exchange-rate regimes. Typically, under such a regime the exchange rates applicable to current-account(commercial) transactions and to capital-account (financial) transactions differ from each other. This difference may be determined in the free market...
Persistent link: https://www.econbiz.de/10012477173