Die Verhandlungen innerhalb der OECD zu einem multilateralen Abkommen ueber Investitionen (MAI) sind gescheitert. Damit werden Direktinvestitionen gegenwaertig weiterhin durch bilaterale Vertraege und durch einige wenige multilaterale Abkommen geregelt. In Zukunft ist jedoch weiterhin damit zu...

Foreign Direct Investment (FDI) is widely believed to have positive effects on economic growth; yet for Cambodia, over 19 years (1993-2011) of attracting FDI inflows, the growth rate of Gross Domestic Product (GDP) has averaged at 7%, which demand a modest attempt to study their relationship...

This paper examines the relationship between foreign ownership and productivity, paying particular attention to two issues neglected in the existing literature – the role of multinationals in service sectors and the importance of R&D activity conducted by foreign multinationals. We review...

Natural resource revenues provide a valuable source to finance public investment in developing countries, which frequently face borrowing constraints and tax revenue mobilization problems. This paper develops a dynamic stochastic small open economy model to analyze the macroeconomic effects of...

The literature on the investment technology of foreign versus domestic investors has inconclusive results. This paper revisits the question, with a focus on decomposing portfolio performance into asset allocation and security selection. We document signicant differences in exposure to systematic...

By constructing and estimating a structural arbitrage-free model of demand pressures on US real rates, we find that recent purchases of US government debt securities by the Fed and foreign officials have significantly affected the level and the dynamics of US real rates. In particular, by 2008,...

The member countries of the International Monetary Fund collaborate to try to assure orderly exchange arrangements and promote a stable system of exchange rates, recognizing that the essential purpose of the international monetary system is to facilitate the exchange of goods, services, and...

The cybernetic approach of the national economy system requires an analysis from the systemic point of view of its structure and function, of its interaction with the other systems from our environment, in this way emphasizing the component systems, their functions , as well as the purposes of...