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Persistent link: https://www.econbiz.de/10010921112
This paper examines how financial development influences foreign direct investment. The direct and indirect sector-specific effects that source countries'financial development and destination countries'financial development can have on foreign direct investment are first identified in a...
Persistent link: https://www.econbiz.de/10010938737
This paper investigates the effect that tight credit conditions had on outward foreign direct investment flows during the 2008-2010 global financial crisis. A difference-in-differences approach is used to isolate a"credit channel"impact of the global financial crisis on foreign direct...
Persistent link: https://www.econbiz.de/10010938741
It is often asserted that a flexible exchange rate regime would facilitate current account adjustment. Using data on over 170 countries over the 1971–2005 period, we examine this assertion systematically. We find no strong, robust, or monotonic relationship between exchange rate regime...
Persistent link: https://www.econbiz.de/10011009920
We aim to make two contributions to the literature on the effects of transaction costs on financial price volatility. First, by using a research design with three ingredients (a common set of companies simultaneously listed on two stock exchanges; binding capital controls; different timing of...
Persistent link: https://www.econbiz.de/10010950774
This paper is the first chapter in the Oxford Companion to the Economics of China (Oxford University Press, forthcoming). Rather than trying to summarize other contributors' views, we provide our own perspectives on the Economics of China--the past experience and the future prospects. Our...
Persistent link: https://www.econbiz.de/10010950991
This paper proposes a framework for gross exports accounting that breaks up a country's gross exports into various value-added components by source and additional double counted terms. By identifying which parts of the official trade data are double counted and the sources of the double...
Persistent link: https://www.econbiz.de/10010951099
Developing countries traditionally experience passthrough of exchange rate changes that is greater and more rapid than high-income countries experience. This is true equally of the determination of prices of imported goods, prices of local competitors’ products, and the general CPI. But...
Persistent link: https://www.econbiz.de/10005233293
Persistent link: https://www.econbiz.de/10005234950
The real exchange rate is said to be the single most important price in an economy. While we used to think that we knew what explained its movements (e.g., the Balassa-Samuelson effect), the recent much-cited result by Engel (1999) proposes a serious reinterpretation – i.e., nearly 100% of the...
Persistent link: https://www.econbiz.de/10005242959