We model an economy in which domestic banks and firms face incentive constraints, as in Holmstrom and Tirole (1997). Firms borrow from banks and uninformed investors, and can collude with banks to reduce the intensity of monitoring. We study the general equilibrium effects of capital flows...

In view of disappointing levels of inward foreign direct investment (FDI), this paper examines capital flows into the Commonwealth of Independent States (CIS) countries and investigates the main impediments to a more favorable investment climate. Direct investment inflows have generally been...

We present a novel and comprehensive dataset of bilateral gross and net external positions in various financial instruments for the main advanced and emerging economies and regions, designed to improve our understanding of cross-border financial linkages. The data show no strong correspondence...

В статье анализируются особенности российского рынка слияний и поглощений в период 2008-2011 гг. Раскрыты специфические черты слияний и поглощений, которые не были...

Since the nineties German enterprises have significantly expanded their direct investments in the industrialised countries. They preferred business locations with higer economic growth and lower labour costs compared to Germany. The geographic distance, the development of German exports into the...

Between 1991 and 1999, capital flows to 25 transition economies in Europe and the former Soviet Union differed widely in terms of overall levels and the share and composition of private flows. With some exceptions (notably Russia), the main form of private inflows was foreign direct investment....

We construct estimates of external assets and liabilities for 145 countries for the period 1970-2004. We describe our estimation methods and present key features of the data at the country and the global level. We focus on trends in net and gross external positions, and the composition of...

This paper examines how capital controls affect FDI decisions and how the impact of these restrictive measures varies with different levels of country risk. We construct a model of firms' FDI decisions, broadly in Dunning's "eclectic theory" framework, using "real options" to emphasize economic...

This paperwork main objective is to put into limelight the importance of direct investments for economic growth, especially in the context of economic crisis. Based on the most relevant macroeconomic indicators for the period 1990-2007, at the level of Romanian economy, the analysis presented in...