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Competition, Complementarity and Contagion in East Asia

Diwan, Ishac; Hoekman, Bernard - C.E.P.R. Discussion Papers - 1999

This paper explores to what extent the magnitude and speed of the contagion effects that materialized in East Asia in the second half of 1997 may have had "real" underpinnings, in the sense that the pattern of production, consumption and trade increased the vulnerability of East Asian countries...

Persistent link: https://www.econbiz.de/10005661909

Can You Teach Old Dragons New Tricks? FDI and Innovation Activity in Chinese State-Owned Enterprises

Girma, Sourafel; Gong, Yundan; Görg, Holger - C.E.P.R. Discussion Papers - 2006

We investigate whether inward FDI, either at the firm or industry level, has any impact on product innovation by … 1999 to 2003. Our results show that foreign capital participation is associated with higher innovative activity. Inward FDI … in the sector has a negative effect on innovative activity in SOEs. However, there is a positive effect of FDI on SOEs …

Persistent link: https://www.econbiz.de/10005123532

Bank Lending and Property Prices in Hong Kong

Gerlach, Stefan; Peng, Wensheng - C.E.P.R. Discussion Papers - 2004

This Paper studies the relationship between residential property prices and lending in Hong Kong. This is an interesting topic for three reasons. First, swings in property prices have been extremely large and frequent in Hong Kong. Second, under the currency board regime, monetary policy cannot...

Persistent link: https://www.econbiz.de/10005661824

Interpreting the Term Structure of Interbank Rates in Hong Kong

Gerlach, Stefan - C.E.P.R. Discussion Papers - 2002

This Paper studies the term structure of short-term interbank rates in Hong Kong. Principal component analysis suggests that the variation of the term structure can be largely attributed to two components that capture shifts in the level and slope of the yield curve. We find that term spreads...

Persistent link: https://www.econbiz.de/10005661871

Demand and Supply Factors in the Determination of NIE Exports: A Simultaneous Error-Correction Model for Hong Kong Exports

Muscatelli, Vito Antonio; Srinivasan, T G; Vines, David - C.E.P.R. Discussion Papers - 1992

This paper considers the issue of whether a small developing economy such as Hong Kong faces a perfectly elastic demand for its exports of manufactured goods. We construct a simultaneous demand and supply system which is estimated using Full Information Maximum Likelihood methods, and which...

Persistent link: https://www.econbiz.de/10005792379

Multinational Corporations and Spillovers

Blomström, Magnus; Kokko, Ari - C.E.P.R. Discussion Papers - 1996

This paper examines spillover effects of the activities of multinational firms (MNCs). Such effects are most likely to be found in host countries, where the operations of foreign multinationals may influence local firms in the MNC’s own industry as well as firms in other industries. There is...

Persistent link: https://www.econbiz.de/10005497921

Like Father like Sons? The Cost of Sovereign Defaults In Reduced Credit to the Private Sector

Esteves, Rui; Jalles, João Tovar - C.E.P.R. Discussion Papers - 2013

This paper investigates the impact of sovereign defaults on the ability of the corporate sector in emerging nations to finance itself abroad. The hypothesis here is that defaults have a negative spillover effect on the private sector through credit rationing. We explore a novel dataset covering...

Persistent link: https://www.econbiz.de/10011083857

Institutions, Volatility and Investment

Besley, Timothy J.; Mueller, Hannes Felix - C.E.P.R. Discussion Papers - 2015

Countries with strong executive constraints have lower growth volatility but similar average growth to those with weak constraints. This paper argues that this may explain a strong reduced-form correlation between executive constraints and inflows of foreign investment. It uses a novel dataset...

Persistent link: https://www.econbiz.de/10011145416

Home Country Effects of Foreign Direct Investment: Evidence from Sweden

Blomström, Magnus; Kokko, Ari - C.E.P.R. Discussion Papers - 1994

This paper examines two broad issues related to foreign investment by Swedish multinational corporations (MNCs): first, the effects of outward foreign direct investment on domestic investment, exports and employment, and second, the effects on the domestic economy from the increasing division of...

Persistent link: https://www.econbiz.de/10005666957

Enterprise Finance and Investment in Listed Hungarian Firms

Perotti, Enrico C; Vesnaver, Luka - C.E.P.R. Discussion Papers - 2004

This Paper studies the financing of enterprise investment in listed Hungarian firms during the first years of transition. These firms were selected for listing on the exchange and presumably had better access to external capital. In particular, we look for evidence of financial constraints that...

Persistent link: https://www.econbiz.de/10005791387