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The development of financial markets in the emerging market economies of Eastern Europe is considered one of the crucial elements of the overall reform process. Under central planning, banks used to be passive recipients of orders from the planners; they did not engage in any credit screening...
Persistent link: https://www.econbiz.de/10010313127
The Eastern enlargement of the European Union (EU) is likely to give a further boost to trade and capital flows, yet empirical evidence on the possible magnitudes is still scarce. This paper uses four different datasets to estimate the determinants of international asset holdings and trade...
Persistent link: https://www.econbiz.de/10010260439
The EU has recently entered accession talks with five transition economies of eastern Europe. Membership in the EU would require inter alia the full liberalization of capital flows. This paper provides empirical evidence on the openness towards foreign capital that the accession states have...
Persistent link: https://www.econbiz.de/10010260508
This paper examines the FDI flows towards two regions in the periphery of Europe: the Central and Eastern European countries (CEECs) and the countries of Southern Europe. We investigate whether evidence exists for FDI diversion from Southern Europe to the CEECs. A cursory observation of recent...
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Modern trade theory emphasizes firm-level productivity differentials to explain the cross-border activities of non …-financial firms. This study tests whether a productivity pecking order also determines international banking activities. Using a novel … probit. Four main findings emerge. First, similar to results for non-financial firms, a productivity pecking order drives …
Persistent link: https://www.econbiz.de/10010299479