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of the world to pursue economic opportunities and alternative means of livelihood. Emigration from China ebbed after … World War II, but has surged again as China implemented its open-door policy in December 1978. Since then, massive waves of …
Persistent link: https://www.econbiz.de/10012397426
Ethnic Chinese networks, as proxied by the product of ethnic Chinese population shares, are found in 1980 and 1990 to have increased bilateral trade both within Southeast Asia and for other country pairs. Their effects within Southeast Asia are much greater for differentiated than for...
Persistent link: https://www.econbiz.de/10012471599
This book provides an original analysis of the economic success of Overseas Chinese merchants in Southeast Asia: The ethnically homogeneous group of Chinese middlemen is an informal, low-cost organization for the provision of club goods, e.g. contract enforcement, that are essential to...
Persistent link: https://www.econbiz.de/10012397327
directly test the hypothesis that FDI is a channel of knowledge spillovers for Japanese multinationals undertaking direct … investments in the United States. Using an original firm-level data set on Japanese firms' FDI and innovative activity find … evidence that FDI increases the flow of knowledge spillovers both from and to the investing Japanese firms …
Persistent link: https://www.econbiz.de/10012470716
: the continued decline in Japanese FDI during a period of stable stock prices and a rapidly appreciating yen. However, when … are able to show that unequal access to credit by Japanese firms can explain the FDI puzzle in the 1990s. We utilize a … unique data set that links individual Japanese firms engaged in FDI to their main banks. Using both bank-level and firm …
Persistent link: https://www.econbiz.de/10012470898
This paper provides an asymmetric information analysis of the recent East Asian crisis. It then outlines several lessons from this crisis. First, there is a strong rationale for an international lender of last resort. Second, without appropriate conditionality for this lending, the moral hazard...
Persistent link: https://www.econbiz.de/10012470928
This paper focuses on the 1995 Latin American and 1997 East Asian crises using an insurance-based model of financial crises. First the model of Dooley (forthcoming) is described. Second, some empirical evidence for an insurance model is presented. The key variables in this approach include the...
Persistent link: https://www.econbiz.de/10012471706
The paper proposes a two-step approach to assessing the extent to which the fall in credit in crisis-stricken East Asian countries was a supply- or demand-induced phenomenon. The first step is based on the estimation of a demand function for excess liquid assets by commercial banks. Such a...
Persistent link: https://www.econbiz.de/10012470785
A model of financial crises in emerging markets based on problems of agency in financial intermediation is developed. This model generates dynamic relationships between foreign capital inflows, domestic investment and domestic bank debt in an endogenous growth model. As a consequence of loan...
Persistent link: https://www.econbiz.de/10012470835
I implement two major approaches to identifying the equilibrium exchange rate. First, the concept of purchasing power parity is tested and used to define the equilibrium real exchange rate for the Indonesian rupiah, Korean won, Malaysian ringgit, Philippine peso, Singapore dollar, Taiwanese...
Persistent link: https://www.econbiz.de/10012472311