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Inappropriate Pooling of Wealthy and Poor Countries in Empirical FDI Studies

Blonigen, Bruce A.; Wang, Miao - 2021

This paper examines the question of whether less-developed countries' (LDCs') experiences with foreign direct investment (FDI) systematically different from those of developed countries (DCs). We do this by examining three types of empirical FDI studies that typically do not distinguish between...

Persistent link: https://www.econbiz.de/10013228764

Cointegration and Tests of Present Value Models

Campbell, John Y. - 2010

In a model where a variable Y[sub t] is proportional to the present value, with constant discount rate, of expected future values of a variable y[sub t] the quot;spreadquot; S[sub t]= Y[sub t] - [theta sub t] will be stationary for some [theta] whether or not y[sub t]must be differenced to...

Persistent link: https://www.econbiz.de/10012763269

The Tax Sensitivity of Foreign Direct Investment : Evidence from Firm-Level Panel Data

Cummins, Jason G. - 2009

previously unexplored (for this purpose) panel data on FDI by subsidiaries of U.S. multinational firms collected by Compustat …

Persistent link: https://www.econbiz.de/10013155967

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

Aizenman, Joshua; Spiegel, Mark M. - 2021

This paper models and tests the implications of costly enforcement of property rights on the pattern of foreign direct investment (FDI). We posit that domestic agents have a comparative advantage over foreign agents in overcoming some of the obstacles associated with corruption and weak...

Persistent link: https://www.econbiz.de/10013310209

Cointegration Vector Estimation by Panel Dols and Long-Run Money Demand

Mark, Nelson C.; Sul, Donggyu - 2022

We study the panel DOLS estimator of a homogeneous cointegration vector for a balanced panel of N individuals observed … approximation to the exact finite sample distribution. We use panel dynamic OLS to estimate coefficients of the long-run money … demand function from a panel of 19 countries with annual observations that span from 1957 to 1996. The estimated income …

Persistent link: https://www.econbiz.de/10013324090

How Important is the Global Financial Cycle? Evidence from Capital Flows

Cerutti, Eugenio - 2017

This study quantifies the importance of a Global Financial Cycle (GFCy) for capital flows. We use capital flow data dis-aggregated by direction and type between 1990Q1 and 2015Q5 for 85 countries, and conventional techniques, models and metrics. Since the GFCy is an unobservable concept, we use...

Persistent link: https://www.econbiz.de/10012948455

Are Macroeconomic Forecasts Informative? Cointegration Evidence from the Asa-Nber Surveys

Cheung, Yin-Wong; Chinn, Menzie David - 2021

We examine the properties of the ASA-NBER forecasts for several US macroeconomic variables, specifically: (i) are the actual and forecast series integrated of the same order; (ii) are they cointegrated, and; (iii) is the cointegrating vector consistent with long run unitary elasticity of...

Persistent link: https://www.econbiz.de/10013224861

The Long-Run U.S./U.K. Real Exchange Rate

Engel, Charles M.; Kim, Chang-Jin - 2022

We investigate the behavior of the long-run U.S./U.K. real exchange rate from 1885 to 1995. Our long-run real exchange rate series is derived from an unobserved components model which divides the real exchange rate into permanent and transitory components. The transitory component is modeled as...

Persistent link: https://www.econbiz.de/10013324058

Testing

Bergbauer, Annika - 2018

over 6 waves in the international PISA student achievement test 2000-2015. Our empirical model exploits the country panel …

Persistent link: https://www.econbiz.de/10012914273

Trade, Foreign Investment, and Industrial Policy for Developing Countries

Harrison, Ann E. - 2010

In this paper we explore the popular but controversial idea that developing countries benefit from abandoning policy neutrality vis-a-vis trade, FDI and resource allocation across industries. Are developing countries justified in imposing tariffs, subsidies, and tax breaks that imply distortions...

Persistent link: https://www.econbiz.de/10013151144

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