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Does Staying out of the European Integration Process Shelter the Industrial Base of Small Countries?
Forslid, Rikard - C.E.P.R. Discussion Papers - 2004
This Paper compares the effect of economic integration on industry location for a small country that goes ahead with an integration process, such as the European, and a country that stays out. Theoretical results, derived from a three-region new economic geography model, are compared to stylized...
Persistent link: https://www.econbiz.de/10005123822
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Foreign Direct Investment and Structural Reforms: Evidence from Eastern Europe and Latin America
Campos, Nauro F; Kinoshita, Yuko - C.E.P.R. Discussion Papers - 2008
This paper investigates the role of structural reforms –privatization, financial reform and trade liberalization– as …
Persistent link: https://www.econbiz.de/10005666624
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Joint Ventures as a Commitment Device Against Lobbies
Berardi, Nicoletta; Seabright, Paul - C.E.P.R. Discussion Papers - 2010
with autocorrelated productivity shocks as creating an option value of investing over time so that later investments … benefit from the information revealed by the realization of earlier investments. However, internal and external lobbies are … likely to pressurize owners into paying out early revenues from such investments precisely when the autocorrelation of …
Persistent link: https://www.econbiz.de/10008468544
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Why Does FDI Go Where it Goes? New Evidence from the Transitional Economies
Campos, Nauro F; Kinoshita, Yuko - C.E.P.R. Discussion Papers - 2003
between 1990-98, we find that the main determinants are institutions, agglomeration and trade openness. We find important …
Persistent link: https://www.econbiz.de/10005124111
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Foreign Direct Investment as Technology Transferred: Some Panel Evidence from the Transition Economies
Campos, Nauro F; Kinoshita, Yuko - C.E.P.R. Discussion Papers - 2002
Although the theoretical literature has identified various sizeable benefits from foreign direct investment inflows (FDI), the empirical literature has been unable to establish a positive and significant impact of FDI on the rates of economic growth of host countries. One reason for this...
Persistent link: https://www.econbiz.de/10005114268
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Fickle Investors: an Impediment to Growth?
Scott, Andrew; Uhlig, Harald - C.E.P.R. Discussion Papers - 1999
The aim of this paper is to construct theoretical models which help to shed light on the recent criticisms of volatile investment flows. We do not make any empirical attempt to establish the existence or gauge the importance of the adverse effects of volatile investment flows nor do we make any...
Persistent link: https://www.econbiz.de/10005661544
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Does External Trade Promote Financial Development?
Huang, Yongfu; Temple, Jonathan - C.E.P.R. Discussion Papers - 2005
Several recent papers have argued that trade and financial development may be linked, either for political economy … paper we use the cross-country and time-series variation in openness to study the relationship between trade and finance in …
Persistent link: https://www.econbiz.de/10005792141
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What Hinders Investment in the Aftermath of Financial Crises: Insolvent Firms or Illiquid Banks?
Kalemli-Ozcan, Sebnem; Kamil, Herman; Villegas-Sanchez, … - C.E.P.R. Discussion Papers - 2011
We provide evidence on the real effects of credit supply shocks utilizing a new firm-level database from six Latin American countries between 1990 to 2005. Holding creditworthiness constant through foreign currency debt exposure, we compare investment undertaken by domestic exporters to that of...
Persistent link: https://www.econbiz.de/10009275697
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Financial Integration and Business Cycle Synchronization
Kalemli-Ozcan, Sebnem; Papaioannou, Elias; Peydró, … - C.E.P.R. Discussion Papers - 2009
Standard theory predicts that financial integration leads to a lower degree of business cycle synchronization. Surprisingly, cross-country studies find the opposite. Our contribution is to document the theoretically predicted negative effect of financial integration on business cycle...
Persistent link: https://www.econbiz.de/10005041098
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Deep Financial Integration and Volatility
Kalemli-Ozcan, Sebnem; Sørensen, Bent E; Volosovych, Vadym - C.E.P.R. Discussion Papers - 2010
We investigate the relationship between financial integration and output volatility at micro and macro levels. Using a very large firm-level dataset (AMADEUS) from 16 European countries, we construct a measure of ``deep'' financial integration at the regional level based on observations of...
Persistent link: https://www.econbiz.de/10008468519