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Volatility, employment and the patterns of FDI in emerging markets

Aizenman, Joshua - 2002

even for risk neutral multinationals, as their profit function is non-linear due to price and productivity effects. For … of productivity shocks in an emerging market producing the intermediate inputs reduces the multinationals' expected … in each country to productivity shocks, channeling the average employment from the more to the less volatile location …

Persistent link: https://www.econbiz.de/10012469306

International Evidence of Strengthening Taxes and Spending For Sustainable Development

Aizenman, Joshua; Jinjarak, Yothin; Hien Nguyen; Park, … - National Bureau of Economic Research - 2021

We trace the linkages between the episodes of fiscal expansion and consolidation in 72 advanced and emerging and developing economies. The findings suggest that fiscal expansions are positively associated with economic growth, which in turn is positively linked with better sustainable...

Persistent link: https://www.econbiz.de/10012794621

Country Risk and Incentives Schemes

Aizenman, Joshua - 1986

The purpose of this paper is to address the role of endogenous default penalties that are contingent upon the intensity of default on the part of the borrowing nation, and to evaluate the effects of contingency plans that make the interest rate dependent upon variables that are correlated with...

Persistent link: https://www.econbiz.de/10012477039

Labor Markets and the Choice of Technology in an Open Developing Economy

Aizenman, Joshua - 1986

degree to which real wages and productivity depend on external factors while at the …expected productivity gains, the investment cost associated with the modern …

Persistent link: https://www.econbiz.de/10012477073

Aid Volatility and Poverty Traps

Agénor, Pierre-Richard - 2007

This paper studies the impact of aid volatility in a two-period model where production may occur with either a traditional or a modern technology. Public spending is productive and "time to build" requires expenditure in both periods for the modern technology to be used. The possibility of a...

Persistent link: https://www.econbiz.de/10012465250

Large Hoarding of International Reserves and the Emerging Global Economic Architecture

Aizenman, Joshua - 2007

This paper analyzes competing interpretations for the large increases in the hoarding of international reserves by developing countries. While the first phase of the rapid hoarding of reserves in the aftermath of the East Asian crisis has been dominated by self insurance against exposure to...

Persistent link: https://www.econbiz.de/10012465374

Globalization and Developing Countries - A Shrinking Tax Base?

Aizenman, Joshua - 2006

This paper evaluates the impact of globalization on the tax bases of countries at varying stages of development. We see globalization as a process that induces countries to embrace greater trade and financial integration. This in turn should shift their tax revenue from "easy to collect" taxes...

Persistent link: https://www.econbiz.de/10012466738

International Reserves : Precautionary versus Mercantilist Views, Theory and Evidence

Aizenman, Joshua - 2005

This paper tests the importance of precautionary and mercantilist motives in accounting for the hoarding of international reserves by developing countries, and provides a model that quantifies the welfare gains from optimal management of international reserves. While the variables associated...

Persistent link: https://www.econbiz.de/10012467317

Sources for Financing Domestic Capital -- Is Foreign Saving a Viable Option for Developing Countries?

Aizenman, Joshua - 2004

This paper proposes a new method for measuring the degree to which the domestic capital stock is self-financed. The main idea is to use the national accounts to construct a self-financing ratio, indicating what would have been the autarky stock of tangible capital supported by actual past...

Persistent link: https://www.econbiz.de/10012468068

Endogenous Financial Openness : Efficiency and Political Economy Considerations

Aizenman, Joshua - 2003

This paper studies the endogenous determination of financial openness. We outline a framework where financial openness is endogenously determined by the authority's choice of financial repression as a taxation device, and where the private sector determines endogenously the magnitude of capital...

Persistent link: https://www.econbiz.de/10012468550