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FDI and domestic investment : an industry-level view
Arndt, Christian; Buch, Claudia M.; Schnitzer, Monika - 2007
Previous empirical work on the link between domestic and foreign investment provides mixed results which partly depend … investment (FDI) cannot be gauged using firm-level data. Aggregated data, in turn, miss channels through which domestic and … investment. We theoretically show that the effects of FDI on the domestic capital stock depend on the structure of industries and …
Persistent link: https://www.econbiz.de/10010383026
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Exports Versus FDI Revisited: Does Finance Matter?
Buch, Claudia M.; Kesternich, Iris; Lipponer, Alexander; … - Volkswirtschaftliche Fakultät, … - 2010
This paper explores the impact of financial constraints on the internationalization strategies of firms. It contributes to the literature by focusing on three aspects: First, the paper studies the impact of financial constraints on exporting relative to FDI. Consistent with theory, the empirical...
Persistent link: https://www.econbiz.de/10008693534
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Financial constraints and foreign direct investment: firm-level evidence
Buch, Claudia; Kesternich, Iris; Lipponer, Alexander; … - In: Review of World Economics (Weltwirtschaftliches Archiv) 150 (2014) 2, pp. 393-420
barriers to foreign direct investment (FDI), and we analyze their impact on the FDI decision. Theoretically, we show that … that financial factors constrain firms’ foreign investment decisions, an effect felt in particular by firms most likely to …
Persistent link: https://www.econbiz.de/10010793923
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Trade Credits and Bank Credits in International Trade: Substitutes or Complements?
Engemann, Martina; Eck, Katharina; Schnitzer, Monika - Wirtschafts- und Sozialwissenschaftliche Fakultät, … - 2011
Trade credits are an important financing tool for internationally active firms. This is surprising, as trade credits are generally more expensive than bank credits and thus a costly substitute for bank financing. In this paper, we investigate the relation between trade credits and bank credits...
Persistent link: https://www.econbiz.de/10010696231
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Trade liberalization and credit constraints: Why opening up may fail to promote convergence
Peters, Katrin; Schnitzer, Monika - C.E.P.R. Discussion Papers - 2012
Recent evidence suggests that despite opening up a country for trade, the productivity gap between developed and emerging economies often does not close. This paper examines credit constraints as one channel held responsible for hampering convergence. Specifically, we extend a Melitz and...
Persistent link: https://www.econbiz.de/10011084499
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How Trade Credits Foster International Trade
Eck, Katharina; Engemann, Martina; Schnitzer, Monika - Wirtschafts- und Sozialwissenschaftliche Fakultät, … - 2012
Internationally active firms rely intensively on trade credits even though they are considered particularly expensive. This phenomenon has been little explored so far. Our theoretical analysis shows that trade credits can alleviate financial constraints arising from asymmetric information...
Persistent link: https://www.econbiz.de/10009653960
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How Trade Credits Foster International Trade
Eck, Katharina; Engemann, Martina; Schnitzer, Monika - Volkswirtschaftliche Fakultät, … - 2012
Internationally active firms rely intensively on trade credits even though they are considered particularly expensive. This phenomenon has been little explored so far. Our theoretical analysis shows that trade credits can alleviate financial constraints arising from asymmetric information...
Persistent link: https://www.econbiz.de/10010556727
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Trade liberalization and credit constraints: Why opening up may fail to promote convergence
Peters, Katrin; Schnitzer, Monika - Volkswirtschaftliche Fakultät, … - 2012
Recent evidence suggests that despite opening up a country for trade, the productivity gap between developed and emerging economies often does not close. This paper examines credit constraints as one channel held responsible for hampering convergence. Specifically, we extend a Melitz and...
Persistent link: https://www.econbiz.de/10010556732
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Financial constraints and the margins of FDI
Buch, Claudia M.; Kesternich, Iris; Lipponer, Alexander; … - 2009
model of multinational firms facing real and financial barriers to foreign direct investment (FDI), and we analyze their …' foreign investment decisions, an effect felt in particular by large firms. Financial constraints at the parent level matter …
Persistent link: https://www.econbiz.de/10010271464
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Exports Versus FDI Revisited: Does Finance Matter
Schnitzer, Monika; Buch, Claudia M.; Kesternich, Iris; … - 2010
sector and the real economy. Exports and foreign direct investment (FDI) have declined, presumably not only because of a lack …
Persistent link: https://www.econbiz.de/10010271899