ResumenEn las últimas dos décadas la Inversión Extranjera Directa (IED) ha ganado importancia en las diferentes economías de América Latina. En este artículo se pretende mostrar que esta importancia se debe a la mayor estabilidad macroeconómica y la liberalización y flexibilización de...

We estimate a three-country model using 1995-2013 data for Germany, the Rest of the Euro Area (REA) and the Rest of the World (ROW) to analyze the determinants of Germany’s current account surplus after the launch of the Euro. The most important factors driving the German surplus were positive...

This study investigates the major determinants of international capital flows in selected countries in Sub-Saharan Africa. Both theory and the empirical literature suggest that financial liberalization and regionalism lead to higher levels of capital inflows. By using a dynamic panel data...

Patterns of commodity trade and foreign direct investment are not consistent with the proposition that European economies are experiencing a process of increasing ‘globalization’. Internationalization takes place as economic integration within the European Union and the European Union...

This paper examines the determinants of convergence in the marginal product of capital. We develop an empirical model from Solow’s growth model and augment it to include global factors of financial flows and capital embodied in commodity trade. Using data from 52 countries during the period...

Foreign direct investment has been one of the main drivers of economic developments over the past few years in Central and Eastern Europe (CEE). Within the ongoing globalization and international division of labor, a large number of foreign companies have established production units in CEE...

Purpose – The issue of which financial initial conditions are necessary to materialize the benefits of financial globalization remains open to debate in the literature. In this paper, we try to put some empirical structure on the concept of financial threshold conditions in order to give...

This thesis examines the impact of institutions, especially the financial institutions, on international trade and foreign direct investments. The first four chapters study the financial institutions and their impact on trade and international specialization. Specifically, the first chapter...

In the recent years the Colombian economy grew relatively rapidly, but it was a biased growth. The energy sector (the locomotora minero-energetica, to use the rhetorical expression of President Juan Manuel Santos) grew much faster than the rest of the economy. The manufacturing sector registered...

The aim of the paper is to show the history of economic relations between the European Union and Japan. This economy is very important to the EU and the countries of the EU are interested in further deepening areas of cooperation. Therefore it seems important to indicate the political will to...