estimator. Results indicate that the trade channel is not as important as cross-section models suggest but that FDI may have the … Monetary Union as well as many other countries strives to attract foreign direct investment (FDI) because of its reputation as … being highly beneficial for the host economy. But stronger FDI linkages may also have a significant impact on business …

This study readdresses the determinants of business cycle synchronisation. We test, on the one hand, whether FDI … of trade integration for the similarity of business cycles are less robust and thus less important for the transmission …

. We also find greenfield FDI leads business cycle comovements. This may be due to deepening intra-industry trade and dense …We synthetically assess the three major transmission channels of international business cycles: bilateral trade …, foreign direct investment (FDI), and portfolio investment flows between economies with multiple fixed effects. Using the data …

investment (FDI) inflows. Although much has been written on the impacts of FDI in developing countries, previous studies have …

production structures, TFP shocks, similarity in exchange rate policy, intra-industry trade, risk sharing, and capital mobility … are robust determinants of BCS. Some well-established determinants such as bilateral trade, monetary policy similarity …, gravity variables, and participation in a monetary union and free trade area have turned out to be fragile. The structure of …

, testing for the importance of pairwise country links as well as characteristics of the receiving country (trade and financial … openness, exchange rate regime, fiscal variables). We find that trade integration fosters the spill-over of business cycles …, both bilaterally and as a country characteristic (trade openness). Results for financial integration are mixed; financial …

The paper empirically examines the differential effects of trade on economic growth and investment based on cross …-country data. In general, the results are largely consistent with the positive impact of trade on economic growth as found in the … literature. However, the empirical results based on different categories of countries show that whereas trade has positively …

This paper examines the linkages between the trade of goods and financial assets. Do both flows behave as complements … macroeconomics, the empirical evidence has remained relatively scarce so far, in particular for the Euro area where trade and … from 2002-2012, to test the so-called trade-finance nexus. Since theoretical models stress that both flows might be …