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, we find that O-FDI in other countries enhances productivity in Taiwan, while O-FDI in China does not. We interpret the …-country productivity. Design/methodology/approach – A panel data set for 15 Taiwanese manufacturing industries over the period between 1991 … and 2007 is employed for a model in which productivity is regressed on a measure of O-FDI. Findings – The study finds no …
Persistent link: https://www.econbiz.de/10009319783
This paper estimates the impact of industrial agglomeration on firm-level productivity in Chinese manufacturing sectors … productivity-boosting effect, but agglomeration of urban population (i.e. urbanization) has no such effects. Additionally, the …
Persistent link: https://www.econbiz.de/10010633807
Persistent link: https://www.econbiz.de/10005013148
Persistent link: https://www.econbiz.de/10004998593
This paper analyses the characteristics and functioning of real estate markets. It focuses on the relationship between developments in these markets and the financial sector to determine under what circumstances real estate booms and busts can develop and how they can affect the health and...
Persistent link: https://www.econbiz.de/10005248144
This Selected Issues paper for Belgium evaluates whether price increases in Belgium are excessive. It assesses the household and bank balance sheets and their vulnerability to a slowdown in housing prices, and identifies differences in real estate markets between Belgium and other countries. The...
Persistent link: https://www.econbiz.de/10005825451
We implement a three-step procedure to assess the extent of exposure to real estate in commercial banks. First, we demonstrate interest rates and income to be the major determinants of delinquency. Then, we adopt a stress testing approach to calculate the impact of any adverse changes in these...
Persistent link: https://www.econbiz.de/10008541450
The financial turmoil of the late 1990s prompted a broad search for tools and techniques for detecting and preventing financial crises, and more recent episodes of instability have high lighted the importance of continuous monitoring of financial systems as a tool for preventing crises. This...
Persistent link: https://www.econbiz.de/10005590915
We examine the interest rate elasticity of housing prices, advancingthe empirical literature in two directions. First, we take a commonly used cross-country panel dataset and evaluate the housing price equation using a consistent estimator in the presence of endogenous explanatory variables and...
Persistent link: https://www.econbiz.de/10005604881
The financial crisis showed, once again, that neglecting real estate booms can have disastrous consequences. In this paper, we spell out the circumstances under which a more active policy agenda on this front would be justified. Then, we offer tentative insights on the pros and cons as well as...
Persistent link: https://www.econbiz.de/10009019603