After nearly a decade of profound economic changes and a market transformation, the countries in Central and Eastern Europe now face the challenge of development and sustainable growth. The development priorities include achieving a high income growth for their economies by raising investment...

After nearly a decade of profound economic changes and a market transformation the countries in Central and Eastern Europe now face the challenge of development and sustainable growth. The development priorities include achieving a high income growth for their economies by raising investment...

In this paper the authors analyze the existence of profit shifting between Spain and other OECD and EU countries. Using a sample of 1,169 Spanish subsidiaries owned by foreign OECD and EU parent companies and a sample of 317 EU subsidiaries owned by Spanish parent companies, taken from the...

This paper examines various indicators of the economic activities of Japanese and American multinational corporation (MNC) affiliates in India compared to the case of China, using the unique affiliate-level data. The study shows that Japanese MNCs in India follow the typical MNC expansion...

This paper examines the effectiveness of multinational enterprises’ capital budgeting decisions as compared to the decisions of purely domestic enterprises. This is an important question because of multinationals’ role in allocating capital globally. Answering this question may also shed...

This paper examines spillover effects of the activities of multinational firms (MNCs). Such effects are most likely to be found in host countries, where the operations of foreign multinationals may influence local firms in the MNC’s own industry as well as firms in other industries. There is...

This paper examines how inward and outward foreign direct investment (FDI) have influenced the restructuring of the Japanese economy and can be expected to continue to do so in the future. We find that outward investment has helped Japanese firms to sustain foreign market shares and contributed...

In this paper we study interdependencies between corporate foreign investment and the capital structure of banks. By committing to invest predominantly at home, firms can reduce the credit default risk of their lending banks. Therefore, banks can refinance loans to a larger extent through...

We study the determinants of the extent of outsourcing and of direct foreign investment in an industry in which producers need specialized components. Potential suppliers must make a relationship-specific investment in order to serve each prospective customer. Such investments are governed by...

There is an growing literature exploring the increasing fragmentation of production processes and the evolution of internationally-dispersed but functionally-integrated economic activities. However, most of this literature appears to neglect an important part of the story, that is the form and...