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results suggest that the correlation between investment and savings depends on institutions, exchange rate risk and credit …
Persistent link: https://www.econbiz.de/10013028896
view (i.e., including human capital) of investment and saving. We find that the Feldstein-Horioka result is impervious to …
Persistent link: https://www.econbiz.de/10012777642
of policy priority is derived. Efficient tax policy ranks investment in human capital higher than investment in nonhuman …
Persistent link: https://www.econbiz.de/10013316819
We explore the impact of large banks and of financial openness for aggregate growth. Large banks matter because of granular effects: if markets are very concentrated in terms of the size distribution of banks, idiosyncratic shocks at the bank-level do not cancel out in the aggregate but can...
Persistent link: https://www.econbiz.de/10013077036
for initial income per capita, population growth, human capital, investment, openness and natural resource dependence …
Persistent link: https://www.econbiz.de/10012753136
We study the effects of an annuity market imperfection on individual agents' labour supply and retirement decisions and on the macroeconomic growth rate in an overlapping generations model with endogenous growth. We model imperfect annuities by introducing a load factor on the interest rate...
Persistent link: https://www.econbiz.de/10013157843
China's increased trade with and investment in Africa have boosted the continent's economic growth but have also … generated considerable controversy. In this paper we investigate China's outward direct investment ODI in Africa using macro and … investment is small, though growing rapidly. China's attraction to resource-rich countries is no different from Western …
Persistent link: https://www.econbiz.de/10012987345
The paper analyses adverse investment, growth and distributional effects of ultra-loose monetary policies based on the … substitute real investment by financial investment. When interest rates are expected to fall in the long term, the marginal and …
Persistent link: https://www.econbiz.de/10012996802
-shifting channel, we find that fund investors in countries with decreased real interest rates shift their portfolio investment out of … investment home bias is the strongest …
Persistent link: https://www.econbiz.de/10013045340
We set up a two-country, regional model of trade in financial services. Competitive firms in each country manufacture untraded consumer goods in an uncertain productive environment, borrowing funds from a bank in either the home or the foreign market. Duopolistic banks can choose their levels of...
Persistent link: https://www.econbiz.de/10012978391