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Sovereign Borrowing by Developing Countries; What Determines Market Access?
Gelos, Gaston; Sandleris, Guido; Sahay, Ratna - International Monetary Fund (IMF) - 2004
What determines the ability of governments from developing countries to access international credit markets? We examine this question using detailed data on sovereign bond issuances and public syndicated bank loans since 1982. We find that traditional measures of a country’s links with the...
Persistent link: https://www.econbiz.de/10005263984
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A Real Model of Transitional Growth and Competitiveness in China
Lipschitz, Leslie; Verdier, Geneviève; Rochon, Céline - International Monetary Fund (IMF) - 2008
We present a stylized real model of the Chinese economy with the objective of explaining two features: (1) domestic production is highly competitive in the sense that an accumulation of capital that raises the marginal product of labor elicits increases in employment and output rather than only...
Persistent link: https://www.econbiz.de/10005825815
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Credit Market Imperfection and Sectoral Asymmetry of Chinese Business Cycle
Zhang, Yuanyan Sophia - International Monetary Fund (IMF) - 2011
This paper analyzes the role of credit market imperfection and sectoral asymmetry as a means through which shocks to the real economy are propagated and amplified. Drawing on firm-level data to calibrate the model, our simulations capture two key stylized facts of the Chinese economy: that...
Persistent link: https://www.econbiz.de/10009147324
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Multinational Enterprises, International Trade, and Productivity Growth; Firm-Level Evidence From the United States
Yeaple, Stephen R.; Keller, Wolfgang - International Monetary Fund (IMF) - 2003
(FDI) between 1987 and 1996. In contrast to earlier work, our results suggest that FDI leads to substantial productivity … gains for domestic firms. The size of FDI spillovers is economically important, accounting for about 11 percent of … productivity growth in U.S. firms between 1987 and 1996. In addition, there is some evidence for import-related spillovers, but it …
Persistent link: https://www.econbiz.de/10005263684
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Export Versus FDI in Services
International Monetary Fund (IMF); International … - 2010
located far away. Firm optimisation then leads less productive firms to self-select themselves for FDI. We test this …
Persistent link: https://www.econbiz.de/10008777034
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The Location of Domestic and Foreign Production Affiliates by French Multinational Firms
Méjean, Isabelle; Mayer, Thierry; Nefussi, Benjamin - International Monetary Fund (IMF) - 2010
to invest abroad is positively related to their productivity and the size of their intangible assets. …
Persistent link: https://www.econbiz.de/10011242345
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Does Openness to International Financial Flows Raise Productivity Growth?
Prasad, Eswar - 2008
productivity (TFP) growth using an extensive dataset that includes various measures of productivity and financial openness for a … strong evidence that FDI and portfolio equity liabilities boost TFP growth while external debt is actually negatively …
Persistent link: https://www.econbiz.de/10012677369
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D Spillovers and Institutions.
Coe, David T. - 2008
Intro -- Contents -- I. INTRODUCTION -- II. DATA -- III. ECONOMETRIC PRELIMINARIES -- IV. "INTERNATIONAL R&D SPILLOVERS" REVISITED -- V. INSTITUTIONS AND INTERNATIONAL R&D SPILLOVERS -- VI. CONCLUSIONS -- APPENDIX A: ALTERNATIVE SPECIFICATION -- APPENDIX B: DATA SOURCES AND DEFINITIONS --...
Persistent link: https://www.econbiz.de/10012682177
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Precautionary Demand for Foreign Assets in Sudden Stop Economies; An Assessment of the New Merchantilism
Mendoza, Enrique G.; Durdu, Ceyhun Bora; Terrones, Marco - International Monetary Fund (IMF) - 2007
Financial globalization was off to a rocky start in emerging economies hit by Sudden Stops in the 1990s. The surge in foreign reserves since then is viewed as a New Merchantilism in which reserves are a war-chest for defense against Sudden Stops. We conduct a quantitative assessment of this...
Persistent link: https://www.econbiz.de/10005263736
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Finance and Convergence; What's Ahead for Emerging Europe?
Schellekens, Philip; Bems, Rudolfs - International Monetary Fund (IMF) - 2007
This paper singles out the key short-term risks and medium-term challenges related to finance and convergence in emerging Europe. With the help of a general equilibrium theoretical framework, the paper identifies pragmatic directions for policymakers. While the "speed limits" to capital inflows...
Persistent link: https://www.econbiz.de/10005826219