We develop and test the hypothesis that foreign direct investment promotes corporate governance spillovers in the host country. Using firm-level data on cross-border mergers and acquisitions (M&A) and corporate governance in 22 countries, we find that cross-border M&As are associated with...

Emerging market policy makers have been concerned about the financial stability implications of financial globalization. These concerns are focused on behavior under stressed conditions. Do tail events in the home country trigger off extreme responses by foreign investors – are foreign...

Korea was hit hard by the 2008 global financial crisis, with the foreign bank deleveraging channel coming prominently into play. The global financial crisis demonstrated that a sharp deleveraging can be transmitted to emerging markets through the bank lending channel to a slowdown in credit...

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...

This paper presents a survey by IMF staff of recent trends in private market financing for developing countries. In addition to summarizing recent developments in capital flows to developing countries through banking and securities markets, it analyzes three issues of particular interest in the...

This paper provides information on private market financing for developing countries, covering developments since August 1992. Progress in dealing with bank debt problems has been based in large part on persistence in the pursuit of stabilization and reform programs. Such programs have resulted...

This paper studies the determinants of foreign land acquisition for large-scale agriculture. To do so, gravity models are estimated using data on bilateral investment relationships, together with newly constructed indicators of agro-ecological suitability in areas with low population density as...

Öffentliche Investitionen in Infrastrukturprojekte sind aus der politischen Diskussion nicht mehr wegzudenken, und es wird Außerordentliches von diesen Investitionen erwartet. Zuletzt wurde das durch die global aufgelegten Konjunkturprogramme deutlich, die im Zuge der Weltwirtschaftskrise...

Am Beispiel der Automobilindustrie beleuchten die Autoren die Verlagerung von Arbeitsplätzen von West- nach Mittelosteuropa sowie die damit verbundenen Risiken für das ""europäische Sozialmodell"". Wie zukünftig die Arbeitsmodelle und die industriellen Beziehungen aussehen werden, hängt...

Die 'Deutschland AG' hat ausgedient. Daimler und Porsche brauchen demnächst eine Standleitung nach Katar. Die Wadan-Werften sind in russischer, die Steigenberger Hotels in ägyptischer Hand. Inder kaufen deutsche Bekleidungsketten, Chinesen Maschinenbauunternehmen. Wenn es so weitergeht, wird...