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Government Guarantees and Bank Vulnerability during a Crisis : Evidence from an Emerging Market
Acharya, Viral V. - 2019
We analyze the performance of Indian banks during 2007-09 relative to their vulnerability to a crisis measured using pre-crisis data, in order to study the impact of government guarantees on bank performance during a crisis. Using bank branch-level regulatory data, we exploit geographic...
Persistent link: https://www.econbiz.de/10012480508
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Firm-Embedded Productivity and Cross-Country Income Differences
Alviarez, Vanessa I. - 2020
We measure the contribution of firm-embedded productivity to cross-country income differences. By firm-embedded productivity we refer to the components of productivity that differ across firms and that can be transferred internationally, such as blueprints, management practices, and intangible...
Persistent link: https://www.econbiz.de/10012482135
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Fire-sale FDI or Business as Usual?
Alquist, Ron - 2013
Using a new data set, we examine the characteristics and dynamics of cross-border mergers and acquisitions during emerging-market financial crises, that is, so-called "fire-sale FDI". Our findings shed fresh light on whether the transactions undertaken during crisis periods differ in fundamental...
Persistent link: https://www.econbiz.de/10012459824
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From the Great Moderation to the global crisis : Exchange market pressure in the 2000s
Aizenman, Joshua - 2010
This paper investigates the factors explaining exchange market pressures (EMP) and the hoarding and use of international reserves (IR) by emerging markets during the 2000s, as the Great Moderation turned to the 2008-9 global crisis and great recession. According to our results, both financial...
Persistent link: https://www.econbiz.de/10012462210
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Volatility, employment and the patterns of FDI in emerging markets
Aizenman, Joshua - 2002
The purpose of this paper is to explore the implications of the deepening presence of multinationals in emerging markets on the cost of macroeconomic volatility there. We find that macroeconomic volatility has a potentially large impact on employment and investment decisions of multinationals...
Persistent link: https://www.econbiz.de/10012469306
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Cross-Border Acquisitions and Target Firms' Performance : Evidence From Japanese Firm-Level Data
Fukao, Kyoji - 2006
Moreover, we find that there is no positive impact on target firms' profitability in the case of both within-group in-in acquisitions and in-in acquisitions by domestic outsiders. In fact, in the manufacturing sector, the return on assets even deteriorated one year and two years after...
Persistent link: https://www.econbiz.de/10012466243
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East Asian Economies and Financial Globalization In the Post-Crisis World
Aizenman, Joshua - 2016
decades, whereas China's has been on a rising trend, yet the share of trade among Asian economies with the dollar zone …. One big dollar-zone economy that has been increasing its presence in Asia is China. However, China has been recently … making efforts to "internationalize" its currency, the yuan (RMB). Hence, if China succeeds in its internationalization …
Persistent link: https://www.econbiz.de/10012456407
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Ownership Characteristics, Real Exchange Rate Movements and Labor Market Adjustment in China
Mao, Risheng - 2011
This paper uses a firm level multi-industry data set covering 456 Chinese manufacturing sectors to assess the implications of Renminbi (RMB) real exchange rate appreciation for adjustments in employment and wage rates. We stress differences in both industry and firm characteristics within...
Persistent link: https://www.econbiz.de/10012461093
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China's Exporters and Importers : Firms, Products and Trade Partners
Manova, Kalina - 2009
This paper uses newly available data on Chinese trade flows to establish novel and confirm existing stylized facts about firm heterogeneity in trade. First, the bulk of exports and imports are captured by a few multi-product firms that transact with a large number of countries. Second, the...
Persistent link: https://www.econbiz.de/10012463400
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Exporting and Firm Performance : Chinese Exporters and the Asian Financial Crisis
Park, Albert - 2009
We ask how export demand shocks associated with the Asian financial crisis affected Chinese exporters. We construct firm-specific exchange rate shocks based on the pre-crisis destinations of firms' exports. Because the shocks were unanticipated and large, they are a plausible instrument for...
Persistent link: https://www.econbiz.de/10012464017