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This paper considers the nature and the distribution of trade and FDI effects of a potential enlargement of the European Monetary Union (EMU) to the 10 countries that obtained EU membership in 2004. One-way and two-way error component gravity models are estimated using a data set of unbalanced...
Persistent link: https://www.econbiz.de/10011372974
This paper defines risk-on risk-off (RORO), an elusive terminology in pervasive use, as the variation in global investor risk aversion. Our high-frequency RORO index captures time-varying investor risk appetite across multiple dimensions: advanced economy credit risk, equity market volatility,...
Persistent link: https://www.econbiz.de/10014437038
foreign direct investment choice, the export strategy can be rejected although it is dominating the FDI project and although … continuous variables on export and FDI patterns. - export ; FDI ; uncertainty ; real option approach …
Persistent link: https://www.econbiz.de/10003636467
Our focus is the effects of exchange rate movements on firm decisions on export market entry and export intensity …. Using data on UK manufacturing firms we find that exchange rate movements have little effect on firm export participation … but have a significant impact on export shares. We also investigate the effects of exchange rate movements on the export …
Persistent link: https://www.econbiz.de/10012725144
to boost export growth, we should have observed a sub-stantial increase in export in the EU and Japan. However, the … exports. The empirical results show that the exchange rate elasticity of total export is about -0.64, which implies that 10 …% appreciation of Korean Won would make a drop in total export by 6.4%. However, the exchange rate elasticities of firms are not the …
Persistent link: https://www.econbiz.de/10012906703
This study's primary concern is that exporting or multinational firms tend to be more reliant on intermediate imports with major currencies. We investigate the effects of exchange rates on value-added exports in the linkage with the exports-FDI feedback for sustainable free trade development in...
Persistent link: https://www.econbiz.de/10013175105
Persistent link: https://www.econbiz.de/10011988410
Estimating the causal effect of offshoring on domestic employment is difficult because of the inherent simultaneity of multinational firms' domestic and foreign affiliate employment decisions. In this paper, we resolve this identification problem using variation in Bilateral Tax Treaties (BTTs),...
Persistent link: https://www.econbiz.de/10012944101
Persistent link: https://www.econbiz.de/10009501981
Persistent link: https://www.econbiz.de/10009667102