Workers’ remittances have become the second largest source of net financial flows to developing countries. However, the main motives for sending remittances remain controversial. This paper examines the importance of altruistic versus investment motives using a new panel data set of bilateral...

We analyze the interlinkages between foreign direct investment (FDI) and foreign portfolio investment (FPI) between Germany and the major economies. First, we show that Tobin’s q helps explaining the variation of the growth rate of the stock of FDI. Second, we show that foreign and the home...

During the 1990s most transition economies undertook a series of market reforms, including opening their capital accounts. This paper uses static and dynamic panel techniques to assess the effect of FDI, foreign loans and portfolio flows on domestic investment. In this partial adjustment setup,...

This paper analyzes the relation between exchange rate volatility and several macroeconomic variables, namely real per capita output growth, the credit cycle, the stock of inward foreign direct investment (FDI) and the current account balance, in the Central and Eastern European EU Member...

This paper presents empirical evidence of the effect of FDI inflows on productivity convergence in central and eastern Europe, using industry-level data. Four conclusions stand out. First, there is a strong convergence effect in productivity, both at the country and at the industry level....

This paper examines two competing approaches for calculating current account benchmarks, i.e. the external sustainability approach á la Lane and Milesi-Ferretti (LM) versus the structural current accounts literature (SCA) based on panel econometric techniques. The aim is to gauge the medium...

External statistics – specifically balance of payments and international investment position statistics – are among the primary statistics on which policy-making bodies and markets rely as a basis for their decisions in globalised economies. Monitoring and enhancing data quality in the...

This paper reviews selected aspects of economic relations between the EU and Russia, focusing on the impact that the last two waves of EU enlargement have had on Russia, as well as the role of the euro in Russia. The analysis suggests that if EU enlargement has had any diversion effects on trade...

Die deutschen Textil- und Bekleidungsindustrien stehen stärker als viele andere Branchen unter strukturellem Anpassungsdruck. Hierbei spielt der zunehmende Konkurrenzdruck so genannter Niedriglohnländer vor allem in den arbeitsintensiven Segmenten dieser Branchen eine wesentliche Rolle. Die...

Weltweit ist ein gewaltiger Investitionsboom zu beobachten. Das globale Investitionsvolumen hat sich in nominaler Rechnung seit dem Tiefpunkt im Jahr 2001 auf nunmehr 14.000 Milliarden US-Dollar mehr als verdoppelt. Dabei hat sich die Investitionstätigkeit zunehmend zu den Schwellen- und...