activities. This paper demonstrates that uncertainty may induce similar costs. This argument is illustrated in the context of … and intermediate products used in domestic production. The present paper shows that uncertainty acts as an implicit tax on …, uncertainty inhibits the formation of new activities. Unlike the tariff, however, uncertainty does not benefit the government with …

We examine the effect of uncertainty on foreign direct investment inflows for a heterogeneous sample of advanced … for both global and local factors, we find policy uncertainty has discernable and significant effects on inflows, but … uncertainty that seems to matter the most, but rather global uncertainty. Additionally, we find that high levels of uncertainty …

's vulnerability to periods of heightened risk and uncertainty. This paper develops a framework to evaluate such vulnerabilities. It …