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Uncertainty Shocks, Capital Flows, and International Risk Spillovers
Akinci, Ozge; Kalemli-Ozcan, Sebnem; Queralto, Albert - National Bureau of Economic Research - 2022
Foreign investors' changing appetite for risk-taking have been shown to be a key determinant of the global financial cycle. Such fluctuations in risk sentiment also correlate with the dynamics of UIP premia, capital flows, and exchange rates. To understand how these risk sentiment changes...
Persistent link: https://www.econbiz.de/10013210054
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Export-Platform FDI : Cannibalization or Complementarity?
Antràs, Pol; Fadeev, Evgenii; Fort, Teresa C.; … - National Bureau of Economic Research - 2024
We develop a model of export-platform foreign direct investment (FDI) in which final goods are produced only with labor and there are no fixed costs of exporting. We derive a simple condition that determines whether an MNE's plants are substitutes or complements. This condition is shaped by the...
Persistent link: https://www.econbiz.de/10014468292
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Emerging Market Business Groups, Foreign Investors, and Corporate Governance
Khanna, Tarun - 1999
-run business groups, domestic financial institutions, and foreign financial institutions. Using data from India in the early 1990s …
Persistent link: https://www.econbiz.de/10012471852
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Learning Versus Stealing : How Important are Market-Share Reallocations to India's Productivity Growth?
Harrison, Ann E. - 2011
, firm-level data from India's organized manufacturing sector to show that market-share reallocations did play an important … role in aggregate productivity gains immediately following the start of India's trade reforms in 1991. However, aggregate … attributed to India's trade liberalization and FDI reforms. Finally, we construct a panel dataset that allows us to track firms …
Persistent link: https://www.econbiz.de/10012461925
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Trade in Business Services in General Equilibrium
Markusen, James R. - 2007
Trade in business services has been attracting attention from academic researchers, policy makers, and business journalists. While there are many anecdotes, there has been little in the way of formal theory applied to this issue. In this paper, we adapt a general model of fragmentation of...
Persistent link: https://www.econbiz.de/10012465841
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India's Experience with Capital Flows : The Elusive Quest for a Sustainable Current Account Deficit
Shah, Ajay - 2005
From the early 1990s onwards, India has engaged in policies involving trade liberalisation, strong controls on debt …
Persistent link: https://www.econbiz.de/10012467296
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Demographics and FDI : Lessons from China's One-Child Policy
Donaldson, John B. - 2018
rich to poor countries. In this paper we consider a natural experiment: using China as the treated country and India as the …-child policy in China, the capital-labor (K/L) ratio of China increased relative to that of India, and, simultaneously, relative … FDI inflows into China vs. India declined. These observations are explained in the context of a simple neoclassical OLG …
Persistent link: https://www.econbiz.de/10012453458
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China in Tax Havens
Clayton, Christopher; Coppola, Antonio; Santos, Amanda dos - National Bureau of Economic Research - 2023
We document the rise of China in offshore capital markets. Chinese firms use global tax havens to access foreign capital both in equity and bond markets. In the last twenty years, China's presence went from raising a negligible amount of capital in these markets to accounting for more than half...
Persistent link: https://www.econbiz.de/10013537759
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Global Sourcing and Multinational Activity : A Unified Approach
Antràs, Pol; Fadeev, Evgenii; Fort, Teresa C.; … - National Bureau of Economic Research - 2022
Multinational firms (MNEs) accounted for 42 percent of US manufacturing employment, 87 percent of US imports, and 84 of US exports in 2007. Despite their disproportionate share of global trade, MNEs' input sourcing and final-good production decisions are often studied separately. Using newly...
Persistent link: https://www.econbiz.de/10013388806
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Exporting, Global Sourcing, and Multinational Activity : Theory and Evidence from the United States
Antràs, Pol; Fadeev, Evgenii; Fort, Teresa C.; … - National Bureau of Economic Research - 2023
Multinational firms (MNEs) dominate trade flows, yet their global production decisions are often ignored in firm-level studies of exporting and importing. Using newly merged data on US firms' trade and multinational activity by country, we show that MNEs are more likely to trade not only with...
Persistent link: https://www.econbiz.de/10014322875