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Negative Alchemy? Corruption, Composition of Capital Flows, and Currency Crises

Wei, Shang-Jin - 2001

literature: corruption may affect a country's composition of capital inflows in a way that makes it more likely to experience a …

Persistent link: https://www.econbiz.de/10012470539

Institutional Efficiency, Monitoring Costs, and the Investment Share of FDI

Aizenman, Joshua - 2002

obstacles associated with corruption and weak institutions. We model these circumstances in a principal-agent framework with … economic corruption as an indicator of the strength of property right enforcement within a given country. We compare corruption … levels for a large cross section of countries in 1989 to subsequent FDI flows from 1990 to 1999. We find that corruption is …

Persistent link: https://www.econbiz.de/10012469382

Pollution Havens and Foreign Direct Investment : Dirty Secret or Popular Myth?

Smarzynska, Beata K. - 2001

possibility that some features of FDI host countries, such as bureaucratic corruption, may deter inward FDI, but are positively … explicitly into account corruption level in host countries and using a firm-level data set on investment projects in 24 …

Persistent link: https://www.econbiz.de/10012470253

Corruption and Composition of Foreign Direct Investment : Firm-Level Evidence

Smarzynska, Beata K. - 2000

This paper studies the impact of corruption in a host country on foreign investor's preference for a joint venture … versus a wholly-owned subsidiary. There is a basic trade-off in using local partners. On the one hand, corruption makes local … hand, corruption decreases the effective protection of investor's intangible assets and lowers the probability that …

Persistent link: https://www.econbiz.de/10012470767

More stringent BITs, less ambiguous effects on FDI? : Not a Bit!

Berger, Axel; Busse, Matthias; Nunnenkamp, Peter; Roy, … - 2010

We focus on investor-state dispute settlement provisions contained in various, though far from all, bilateral investment treaties as a possible determinant of BIT-related effects on bilateral FDI flows. Our estimation results prove to be sensitive to the specification of these provisions as well...

Persistent link: https://www.econbiz.de/10003956967

Do trade and investment agreements lead to more FDI? : Accounting for key provisions inside the black box

Berger, Axel; Busse, Matthias; Nunnenkamp, Peter; Roy, … - 2010

The previous literature provides a highly ambiguous picture on the impact of trade and investment agreements on FDI. Most empirical studies ignore the actual content of BITs and RTAs, treating them as "black boxes", despite the diversity of investment provisions constituting the essence of these...

Persistent link: https://www.econbiz.de/10008652617

Democracies cooperate more : even where it threatens to bite?

Hühne, Philipp; Meyer, Birgit; Nunnenkamp, Peter; Roy, … - 2015

Estimating two-step selection models, we find that more democratic governments are more likely to conclude preferential trade agreements (PTAs) and to agree to stricter investment provisions related to pre-establishment national treatment and investor-state dispute settlement in PTAs. This is...

Persistent link: https://www.econbiz.de/10011300630

Are stricter investment rules contagious? : host country competition for foreign direct investment through international agreements

Neumayer, Eric; Nunnenkamp, Peter; Roy, Martin - 2014

We argue that the trend toward international investment agreements (IIAs) with stricter investment rules is driven by competitive diffusion, namely defensive moves of developing countries concerned about foreign direct investment (FDI) diversion in favor of competing host countries. Accounting...

Persistent link: https://www.econbiz.de/10010253457

Global Macro-Financial Cycles and Spillovers

Ha, Jongrim - 2020

We develop a new dynamic factor model that allows us to jointly characterize global macroeconomic and financial cycles and the spillovers between them. The model decomposes macroeconomic cycles into the part driven by global and country-specific macro factors and the part driven by spillovers...

Persistent link: https://www.econbiz.de/10012479322

The Currency Composition of International Reserves, Demand for International Reserves, and Global Safe Assets

Aizenman, Joshua - 2019

This paper examines determinants of the international reserves (IR) currency composition before and after the Global Financial Crisis (GFC). Applying the annual data of 58 countries, we confirm that countries that trade more with the US, euro zone, UK, and Japan, and issue more debt denominated...

Persistent link: https://www.econbiz.de/10012479884