Showing 1 - 10 of 337
Working with a panel dataset of of OECD countries over the decade 1994-2004, we examine linkages between cross-border trade and FDI in the service sectors. We first develop a consistent analytical framework for the application of the gravity model jointly to services trade and commercial...
Persistent link: https://www.econbiz.de/10005136664
Using a new dataset of currency option prices, we study the evolution of investor confidence in 1992-98 over the chance of individual currencies to converge to the euro. Convergence risk, which may reflect uncertainty over policy commitment as well as exogenous fundamentals, induces a level of...
Persistent link: https://www.econbiz.de/10005124133
Previous empirical work on the link between domestic and foreign investment provides mixed results which partly depend on the level of aggregation of the data. We argue that the aggregated home country implications of foreign direct investment (FDI) cannot be gauged using firm-level data....
Persistent link: https://www.econbiz.de/10005504317
This paper analyzes the effects of a potential spillover on technology transfer of a multinational enterprise and on the host country policy. In particular, we examine how both parties’ incentives can be controlled through the ownership structure in an international joint venture. In contrast...
Persistent link: https://www.econbiz.de/10005504408
This Paper empirically investigates two important determinants of international activity through wholly owned operations, joint-ventures and licensing, namely country risk and IPRs protection. Using a comprehensive database on investments in chemical plants during the period 1981-96, we show...
Persistent link: https://www.econbiz.de/10005504443
Using a unique data set from the Czech Republic for 1994-2003, this study examines the relationship between a firm’s liquidity constraints and its supply linkages with multinational corporations (MNCs). The empirical analysis indicates that Czech firms supplying MNCs are less credit...
Persistent link: https://www.econbiz.de/10005497887
Current capital flows are closely monitored, but surprisingly little is known about the stocks of external assets and liabilities held by various countries, especially in the developing world. This paper constructs estimates of foreign assets and liabilities and their equity and debt...
Persistent link: https://www.econbiz.de/10005656351
This study takes a new look at the regulatory determinants of foreign direct investment (FDI) by asking whether labour market flexibility affects FDI flows across 19 Western and Eastern European countries. The analysis is based on firm-level data on new investments undertaken during the...
Persistent link: https://www.econbiz.de/10005661556
We model a firm's choice between exporting and investing in a foreign country in the presence of possibly persistent demand uncertainty. We allow for demand shocks that, while increasing expected profit, impede learning. The firm learns gradually, in a Bayesian fashion, by observing past demand...
Persistent link: https://www.econbiz.de/10005661630
This paper considers the impact of the Euro in Sub-Saharan Africa, looking at the transmission channels through which the Euro could affect the economies in the region and at the risks and opportunities for Sub-Saharan African countries. In particular, the paper looks into effects from the trade...
Persistent link: https://www.econbiz.de/10005661703