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The present paper develops a general production function framework, augmented with two institutional variables namely, bureaucracy and corruption, on 28 transition economies over the period 2000 to 2015. We use various econometric specifications and apply both the Fixed Effects as well as the...
Persistent link: https://www.econbiz.de/10012931429
This paper investigates the effect of FDI on economic growth conditional on the institutional quality of host countries. As we consider institutional heterogeneity to be an explanation for the mixed results of previous empirical studies, we develop several arguments to show that institutional...
Persistent link: https://www.econbiz.de/10013033984
This paper investigates the role of economic structures as determinants of FDI inflows. We expand on the existing literature by focusing on advanced economies, using a newly available measure of FDI which cleans the data from statistical artefacts, such as financial round tripping, and by...
Persistent link: https://www.econbiz.de/10011647827
This article aims to analyze the role of FDI and institutional quality in local economic growth in Vietnam. Using a dataset of 63 provinces in Vietnam between 2005 and 2020, the result of the Bayesian linear regression method cover that FDI has a negative effect on economic growth, while...
Persistent link: https://www.econbiz.de/10014442363
Countries with weaker domestic institutions hold fewer foreign assets and exhibit concentrated corporate ownership. An equilibrium business cycle model of international capital flows with corporate governance frictions between outside investors and insiders explains both phenomena. Investment...
Persistent link: https://www.econbiz.de/10013007515
Using an extensive data set on foreign invested enterprises (FIEs) in the Chinese mainland, we compare the sensitivities of the location choice of foreign direct investment (FDI) from six major source countries/areas (Hong Kong, Taiwan, US, EU, Japan and Korea) toward the variation in the...
Persistent link: https://www.econbiz.de/10014202095
The purpose of the paper is to evaluate the GATS/Telecom Agreement. This is done by looking at the guiding principles for negotiating market access for foreign investors, by comparing the Agreement with the Telecom Agreement under NAFTA and by discussing the merits of the multilateral approach...
Persistent link: https://www.econbiz.de/10010211077
While capital flows to emerging markets bring numerous benefits, they are also known to create macroeconomic imbalances (economic overheating, currency overvaluation) and increase financial vulnerabilities (domestic credit growth, bank leverage, foreign currency-denominated lending). But are all...
Persistent link: https://www.econbiz.de/10011522086
index. Sub-Saharan Africa is also part of this trend, but is a notable laggard. For instance, in 2010 the correlation with … Africa). Additionally, correlations among African markets are generally very low. While there remain barriers to exploiting … this trend, Africa's integration lag may present opportunities for investors seeking regional diversification — and …
Persistent link: https://www.econbiz.de/10013085160
In this paper, we sought to establish whether Africa's volatile currencies drive equity risk premia. We use the SDF … also find evidence that international investors are worried about Africa's small size equity markets and build anticipated …
Persistent link: https://www.econbiz.de/10013051002