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inflows of portfolio debt, portfolio equity, and FDI, controlling for country's stock of short-term external debt and … commodity terms of trade. Average level of FDI inflows is associated with a 23 percent higher takeoff probability relative to a … zero FDI inflow benchmark, and this effect is highest for the Latin America subsample, with a 65 rise in takeoff …
Persistent link: https://www.econbiz.de/10009270029
inflows of portfolio debt, portfolio equity, and FDI, controlling for country's stock of short-term external debt and … commodity terms of trade. Average level of FDI inflows is associated with a 23 percent higher takeoff probability relative to a … zero FDI inflow benchmark, and this effect is highest for the Latin America subsample, with a 65 rise in takeoff …
Persistent link: https://www.econbiz.de/10009272046
The textbook neoclassical growth model predicts that countries with faster productivity growth should invest more and attract more foreign capital. We show that the allocation of capital flows across developing countries is the opposite of this prediction: capital does not flow more to countries...
Persistent link: https://www.econbiz.de/10013134155
In this paper we distinguish different qualities of FDI to re-examine the relationship between FDI and growth. We use … quot;qualityquot; to mean the effect of a unit of FDI on economic growth. However, this is difficult to establish because … differentiate quality FDI in several different ways. First, we look at the possibility that the effects of FDI differ by sector …
Persistent link: https://www.econbiz.de/10012721355
in the form of more transparent institutions and deeper reforms lead to more foreign direct investment (FDI). We use data … of FDI from the United States, Japan, Hong Kong, Taiwan and Korea to various regions of China from 1990 to 2002. We … control for the standard determinants of FDI - regional market sizes, wage rates, human capital and tax policies. Then we add …
Persistent link: https://www.econbiz.de/10012735247
This chapter provides a broad overview of the upward trends in financial globalization and foreign direct investment and asks whether and how financial globalization is linked with the foreign direct investment decisions of non-financial multinational enterprises. Several potential links and...
Persistent link: https://www.econbiz.de/10012979903
This paper proposes a new perspective on international capital flows and countries' long-run external asset position. Cross-sectional evidence for 84 developing countries shows that over the last three decades countries that have had on average higher volatility of output growth (1) accumulated...
Persistent link: https://www.econbiz.de/10012988723
FDI) and economic growth. In the existing literature, the FDI effects on growth are not easy to understand. Mixed findings … study is an analysis of how institutions quality affects FDI-growth nexus. The second contribution is the use of the Panel … Smooth Transition Regression (PSTR) modeling because the nexus between FDI and economic growth is nonlinear and depends on …
Persistent link: https://www.econbiz.de/10010929481
The literature has shown that the implied welfare gains from international financial integration are very small. We revisit the existing findings and document that welfare gains can be substantial if capital goods are not perfect substitutes. We use a model of optimal savings that includes a...
Persistent link: https://www.econbiz.de/10009364327
less clear, but this masks an important and novel result. We find strong evidence that FDI and portfolio equity liabilities …
Persistent link: https://www.econbiz.de/10013325040