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We show that international consumption risk sharing is significantly improved by capital flows, especially portfolio investment. Concomitantly, we show that poor institutions hamper risk sharing, but to an extent that decreases with openness. In particular, risk sharing is prevalent even among...
Persistent link: https://www.econbiz.de/10011604872
This study analyzes the potential impact of the Philippines-Japan Free Trade Agreement (FTA) on the Philippine economy … in case of the Philippines' discriminately unilateral tariff reduction on import from Japan using a computable general … tariff rates on imports from Japan would expand the Philippines' import from Japan and in total by 2.36-8.58 and 0 …
Persistent link: https://www.econbiz.de/10011429783
Is there a pecking order of cross-border investment in that countries become financially integrated primarily through some types of investment rather than others? Using a novel database of bilateral capital stocks for all types of investment – FDI, portfolio equity securities, debt securities...
Persistent link: https://www.econbiz.de/10011604636
. The second chapter provides a theory of offshoring under imitation risk that explains optimal dynamic adjustments of firms …
Persistent link: https://www.econbiz.de/10011698346
We explore the welfare costs of inflation originating from lack of liquidity satiation for Weimar Republic's hyperinflation and three high-inflation countries. Towards the peak of Weimar's hyperinflation the costs are estimated to have been equal to nearly 20 per cent of income. For Israel,...
Persistent link: https://www.econbiz.de/10014494959
Persistent link: https://www.econbiz.de/10011695729
domestic investment and labour demand more negative. Using data from Germany, it then provides evidence that is consistent with …
Persistent link: https://www.econbiz.de/10010334709
This paper examines the nexus between capital flows and real exchange rate (RER) in emerging Asian countries using a dynamic panel-data model for 2000–2009. In contrast to previous studies, capital flows here are separated into foreign direct investment (FDI), portfolio investment, and other...
Persistent link: https://www.econbiz.de/10010507296
This paper discusses the issue of competitiveness and environmental regulation from the viewpoint of Heckscher-Ohlin models. It demonstrates that the impact of unilateral environmental regulations does not necessarily lead to a decrease in international competitiveness. Important is the measure...
Persistent link: https://www.econbiz.de/10010275627
price equalization is granted. It looks primarily at the conditions for efficiency in the world economy, which is attained …
Persistent link: https://www.econbiz.de/10010397950