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According to the consensus view in growth and development economics, cross country differences in per-capita income largely reflect differences in countries' total factor productivity. We argue that this view has powerful implications for patterns of capital flows: everything else equal,...
Persistent link: https://www.econbiz.de/10012465044
We contribute to the long debated issue of whether inward foreign direct investment (FDI) can stimulate investment in … of FDI on total investment - measured as the ratio of gross fixed capital formation to GDP - but only if multinational …
Persistent link: https://www.econbiz.de/10012455631
develop a model that explores technology development by firms that face regional competition for their investment and examine … improving their standing in the competition amongst regions for their investment. This loss in efficiency is aggravated by the …
Persistent link: https://www.econbiz.de/10012469853
This paper brings out the special mechanism through which taxes influence bilateral FDI, when investment decisions are …
Persistent link: https://www.econbiz.de/10012466680
We analyze how China's emergence as a destination for foreign direct investment is affecting the ability of other … place. For whatever reason -- limits on their ability to raise finance for investment in multiple markets or limits on their … less inclined to invest in the OECD. A detailed analysis of Japanese foreign direct investment outflows disaggregated by …
Persistent link: https://www.econbiz.de/10012467348
Persistent link: https://www.econbiz.de/10013480776
. This model generates dynamic relationships between foreign capital inflows, domestic investment and domestic bank debt in … accumulation of bank debt and increasing concentration of domestic lending and investment to the anticipation of contingent …
Persistent link: https://www.econbiz.de/10012470835
This paper develops an interpretation of the Asian meltdown focused on moral hazard as the common source of overinvestment, excessive external borrowing, and current account deficits. To the extent that foreign creditors are willing to lend to domestic agents against future bail-out revenue from...
Persistent link: https://www.econbiz.de/10012472030
when institutional quality is instrumented. Finally, the experience of Hong Kong, which has had a flat investment ratio … since the 1960s, is consistent with the idea that making the transition from a low-investment economy to a high-investment …
Persistent link: https://www.econbiz.de/10012472910
We investigate the role of budget balances, financial development and openness, in the evolution of global imbalances. Financial development -- or the lack thereof -- has received considerable attention as a possible contributing factor to the development of persistent and expanding current...
Persistent link: https://www.econbiz.de/10012465286