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International Financial Integration and Entrepreneurial Firm Activity

Alfaro, Laura; Charlton, Andrew - National Bureau of Economic Research (NBER) - 2007

We explore the relation between international financial integration and the level of entrepreneurial activity in a country. We use a unique firm level data set of approximately 24 million firms in nearly 100 countries in 2004 and 1999, which enables us to present both cross-country and industry...

Persistent link: https://www.econbiz.de/10005248756

Why Doesn't Capital Flow from Rich to Poor Countries? An Empirical Investigation

Alfaro, Laura; Kalemli-Ozcan, Sebnem; Volosovych, Vadym - National Bureau of Economic Research (NBER) - 2005

We examine the empirical role of different explanations for the lack of flows of capital from rich to poor countries the "Lucas Paradox." The theoretical explanations include differences in fundamentals across countries and capital market imperfections. We show that during 1970-2000 low...

Persistent link: https://www.econbiz.de/10005084924

Capital Flows in a Globalized World: The Role of Policies and Institutions

Alfaro, Laura; Kalemli-Ozcan, Sebnem; Volosovych, Vadym - National Bureau of Economic Research (NBER) - 2005

We describe the patterns of international capital flows in the period 1970 - 2000. We then examine the determinants of capital flows and capital flows volatility during this period. We find that institutional quality is an important determinant of capital flows. Historical determinants of...

Persistent link: https://www.econbiz.de/10005049958

Do Prices Determine Vertical Integration?

Alfaro, Laura; Newman, Andrew F.; Conconi, Paola; … - National Bureau of Economic Research (NBER) - 2010

What is the relationship between product prices and vertical integration? While the literature has focused on how integration affects prices, this paper provides evidence that prices can affect integration. Many theories in organizational economics and industrial organization posit that...

Persistent link: https://www.econbiz.de/10008627162

Regional Integration and Foreign Direct Investment

Blomstrom, Magnus; Kokko, Ari - National Bureau of Economic Research (NBER) - 1997

findings suggest that the most positive impact on FDI has occurred when regional integration agreements have coincided with …

Persistent link: https://www.econbiz.de/10005710645

Policies to Encourage Inflows of Technology Through Foreign Multinationals

Blomstrom, Magnus; Kokko, Ari - National Bureau of Economic Research (NBER) - 1993

Do host countries aiming to maximize the inflows of technology through foreign multinationals have any policy alternatives to formal technology transfer requirements and performance requirements? To answer this question, the present paper examines some possible determinants of the technology...

Persistent link: https://www.econbiz.de/10005718114

Home Country Effects of Foreign Direct Investment: Evidence from Sweden

Blomstrom, Magnus; Kokko, Ari - National Bureau of Economic Research (NBER) - 1994

This paper examines two broad issues related to foreign investment by Swedish multinationals: first the effects of outward foreign direct investment on domestic investment, exports, and employment, and second, the effects on the domestic economy from the increasing division of labor between the...

Persistent link: https://www.econbiz.de/10005778148

How Does Foreign Direct Investment Promote Economic Growth? Exploring the Effects of Financial Markets on Linkages

Alfaro, Laura; Chanda, Areendam; Kalemli-Ozcan, Sebnem; … - National Bureau of Economic Research (NBER) - 2006

markets in enabling foreign direct investment (FDI) to promote growth through backward linkages, shedding light on this … financial markets allow the backward linkages between foreign and domestic firms to turn into FDI spillovers. Our calibration … growth rates that are almost twice those of economies with poor financial markets, b) increases in the share of FDI or the …

Persistent link: https://www.econbiz.de/10005778297

Intra-Industry Foreign Direct Investment

Alfaro, Laura; Charlton, Andrew - National Bureau of Economic Research (NBER) - 2007

foreign direct investment (FDI) occurs between rich countries. The share of vertical FDI (subsidiaries which provide inputs to …-industry' vertical FDI and find that their location and activity are significantly different to the inter-industry vertical FDI visible … production giving rise to a class of high-skill intra-industry vertical FDI. …

Persistent link: https://www.econbiz.de/10005580494

Cherries for Sale: Export Networks and the Incidence of Cross-Border M&A

Blonigen, Bruce A.; Fontagné, Lionel; Sly, Nicholas; … - National Bureau of Economic Research (NBER) - 2012

This paper develops a dynamic model of cross-border M&A activity. We show that foreign firms will be relatively more attracted to targets in the domestic country that had high productivity levels several years prior to acquisition, but then suffered a negative productivity shock (i.e., cherries...

Persistent link: https://www.econbiz.de/10010822031