Is there any interrelationship between firm level FDI in the form of cross border Mergers & Acquisitions and capital markets growth and quality? We addressed this question using panel data of cross border M&A for nine emerging economies. Our study period goes from 1987 to 2006. We find that the...

Since the launching of its economic reform and opening up programs in 1979, China has experienced an unprecedented economic expansion, as its real GDP growing at an annual average rate of about 10%. Despite the robust performance, the pressure for employment creation has continued to persist and...

This paper analyses both global and regional approaches to solving problems of energy security and ecological imbalance by addressing specifically the problems of China's energy security. China’s growing energy dependence has become a major concern for both economic and national security...

The purpose of this study is to empirically test the validity of Kaldor's laws of economic growth in China between 1978 and 2004 and to provide an alternative explanation of sources of Chinese economic growth in a Kaldorian perspective. First, in a spatial econometrics perspective using a...

This paper uses the standard one-sector neoclassical growth model to investigate why China’s consumption has been low and investment high. It finds that the low cost of capital has been quantitatively an important factor. Theory predicts that the price of capital may have been significantly...

A multilateral currency union removes the intraregional exchange rates but not the union rate variability with the rest of the world. The intraregional exchange rate variability is thus latent. A two-step procedure is developed to measure the variability. The measured variables are used to model...

After 10 years of impressive growth, India is now the fourth largest economy in the world. Yet, to date, Indias' impact on global commodity markets has been muted. The authors examine how Indias' domestic and trade policies have distorted and constrained its demand for commodities. They find...

In this paper, I analyze the causes of the prolonged slowdown of the Japanese economy in the 1990s and find that the stagnation of investment, especially private fixed investment, was the primary culprit. I then investigate the causes of the stagnation of household consumption during the 1990s...

We investigate the empirical determinants of China's outward direct investment (ODI). It is found that China's investments in developed and developing countries are driven by different sets of factors. Subject to the differences between developed and developing countries, there is evidence that...

Vietnam has been following China's path closely and very successfully for the last two decades, since the adoption of "Doi moi" in 1986. Over those last two decades, economic growth rates in both countries have been the highest worldwide (with GDP growing by 8 per cent and 10 per cent per year,...