By using a multi-country set of acquirers from 14 different markets, this paper aims to develop a global understanding of the impact of acquisition announcements on developed - and emerging-market acquirers. We adopt an empirical event-study approach to investigate the effect of acquisition...

Emerging market economies (also known as emerging economies, EEs) have become important on the world economic stage, where they now play a vital role in international trade and financial flows and account for a conspicuous fraction of the global economic dynamic. Despite the relatively tepid...

This paper proposes a statistical test for the decoupling of the comovements in the real activity of developed and emerging economies. Although globalization has shaped the world economy in recent decades, emerging economies such as China have experienced impressive growth compared to developed...

A large literature has documented that fiscal policy is procyclical in emerging markets and developing economies and acyclical/countercyclical in advanced economies. This paper analyzes fiscal procyclicality in commodity-exporting countries. It first shows that the degree of fiscal...

What is the role of a country's financial system in determining technology adoption? To examine this, a dynamic contract model is embedded into a general equilibrium setting with competitive intermediation. The terms of finance are dictated by an intermediary's ability to monitor and control a...

We investigate the effect of population aging on international factor flows in a political-economy framework. Political barriers to immigration in developed countries and insecure property rights in developing countries impede factor flows. Taking into account different generations' conflicting...

We investigate the effect of population aging on international factor flows in a political-economy framework. Political barriers to immigration in developed countries and insecure property rights in developing countries impede factor flows. Taking into account different generations' conflicting...

This paper models a multilateral agreement on investment (MAI) as a coordination device. Multinational enterprises can invest in any number of countries. Without a multilateral investment agreement, expropriation triggers an investment stop by the single MNE. Under a multilateral agreement,...