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Growth effect of FDI in developing economies: The role of institutional quality
JUDE, Cristina; LEVIEUGE, Gregory - Volkswirtschaftliche Fakultät, … - 2013
This paper investigates the effect of FDI on economic growth conditional on the institutional quality of host countries … develop several arguments to show that institutional quality modulates the intensity of FDI impact on growth. Using a … 1984-2009. The use of Panel Smooth Transition Regression (PSTR) allows us to identify both the heterogeneity and the …
Persistent link: https://www.econbiz.de/10011110324
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How Big are the Gains from International Financial Integration?
Hoxha, Indrit; Kalemli-Ozcan, Sebnem; Vollrath, Dietrich - C.E.P.R. Discussion Papers - 2011
The literature has shown that the implied welfare gains from international financial integration are very small. We revisit the existing findings and document that welfare gains can be substantial if capital goods are not perfect substitutes. We use a model of optimal savings that includes a...
Persistent link: https://www.econbiz.de/10009364327
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How big are the gains from international financial integration?
Hoxha, Indrit; Kalemli-Ozcan, Sebnem; Vollrath, Dietrich - In: Journal of Development Economics 103 (2013) C, pp. 90-98
The literature has shown that the implied welfare gains from financial integration are very small. We revisit these findings and document that welfare gains are substantial if capital goods are not perfect substitutes. We use a model of optimal savings where the elasticity of substitution...
Persistent link: https://www.econbiz.de/10010679295
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FDI, local Financial Markets, Employment and poverty alleviation
Abdelaal Mahmoud, Ashraf - Volkswirtschaftliche Fakultät, … - 2010
This paper examines the indirect linkages among foreign direct investment (henceforth, FDI) and poverty reduction … that FDI inflows are able to contribute to higher growth and employment in poor countries? I argue yes. Behavior of FDI … says something fundamental. FDI inflows vary across international borders and condition by host country environment …
Persistent link: https://www.econbiz.de/10009004816
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FDI, local Financial Markets, employment and poverty alleviation
Abdel Aal Mahmoud, Ashraf - Volkswirtschaftliche Fakultät, … - 2010
This paper examines the precise links between foreign direct investment (henceforth, FDI) and poverty alleviation …, where so far there are few studies attempted to analyze empirically this relationship. The FDI inflows vary across … international borders, therefore FDI reduces poverty only under certain circumstances. “Roll out the red carpet for foreign …
Persistent link: https://www.econbiz.de/10008557261
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Sovereign debt markets in turbulent times: Creditor discrimination and crowding-out effects
Broner, Fernando; Erce, Aitor; Martin, Alberto; … - Department of Economics and Business, Universitat … - 2013
In 2007, countries in the euro periphery were enjoying stable growth, low deficits, and low spreads. Then the financial crisis erupted and pushed them into deep recessions, raising their deficits and debt levels. By 2010, they were facing severe debt problems. Spreads increased and,...
Persistent link: https://www.econbiz.de/10010849603
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Nonlinearities in the Relationship Between Financial Integration and Economic Growth
Yolcu Karadam, Duygu; Öcal, Nadir - Ekonomik Yaklasim Association - 2013
In the literature there is a great debate on the growth effects of international financial integration. It is argued that the direction and the magnitude of the effect of financial integration on growth depend on some structural and economic characteristics of the economies. This implies that...
Persistent link: https://www.econbiz.de/10010850424
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Rethinking the Effects of Financial Liberalization
Broner, Fernando; Ventura, Jaume - Barcelona Graduate School of Economics (Barcelona GSE) - 2010
During the last few decades, many emerging markets have lifted restrictions on cross-border financial transactions. The conventional view was that this would allow these countries to: (i) receive capital in flows from advanced countries that would finance higher investment and growth; (ii)...
Persistent link: https://www.econbiz.de/10010851384
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Sovereign Debt Markets in Turbulent Times: Creditor Discrimination and Crowding-Out Effects
Broner, Fernando; Erce, Aitor; Martín, Alberto; … - Barcelona Graduate School of Economics (Barcelona GSE) - 2013
In 2007, countries in the Euro periphery were enjoying stable growth, low deficits, and low spreads. Then the financial crisis erupted and pushed them into deep recessions, raising their deficits and debt levels. By 2010, they were facing severe debt problems. Spreads increased and,...
Persistent link: https://www.econbiz.de/10010851405
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Financial liberalization, growth, productivity and capital accumulation: The case of European integration
Gehringer, Agnieszka - Center for European, Governance and Economic … - 2012
In the present contribution, we concentrate on the process of financial liberalization in a specific context of European economic and monetary integration. We implement de facto and de jure measures of financial liberalization and find that formal aspects of financial openness generate a...
Persistent link: https://www.econbiz.de/10010954388