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Revisiting Linkages between Openness, Education and Economic Growth: System GMM Approach
Fukase, Emiko - In: Journal of Economic Integration 25 (2010), pp. 193-222
For 106 countries over 1969-2004, this paper revisits the relationship between openness, education and economic growth using the System Generalized Method of Moment (GMM) approach. Trade and growth are usually positively correlated and capital formation appears to be an important channel through...
Persistent link: https://www.econbiz.de/10009421196
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Aid and Foreign Direct Investment in Vietnam
Wang, Chengang; Balasubramanyam, V.N. - In: Journal of Economic Integration 26 (2011), pp. 721-739
This short paper explores the complementarity between foreign aid and foreign direct investment (FDI). Recent studies on aid concluded that aid should come to an end or be reduced with a radical modification of the terms and conditions and FDI and trade should replace aid as the engine of...
Persistent link: https://www.econbiz.de/10010840799
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The ‘New Regionalism’: Integration as a Commitment Device for Developing Countries
Waldkirch, Andreas - In: Journal of Economic Integration 21 (2006), pp. 397-425
Increasingly, developing countries embrace foreign direct investment (FDI) and simultaneously pursue economic integration with developed countries. Foreign investment is subject to sovereign risk and free trade agreements may serve as a commitment mechanism in order to achieve higher sustainable...
Persistent link: https://www.econbiz.de/10009392005
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The Effectiveness of Capital Controls: The Case of Slovenia
M. Buch, Claudia; Hanschel, Elke - In: Journal of Economic Integration 15 (2000), pp. 602-628
Similar to Chile in the 1990s, Slovenia has introduced an unremunerated reserve requirement (URR) on financial credits in 1995. We find that the URR has not been effective in reducing overall inflows of foreign capital. Hence, the gain in monetary autonomy has been limited. While the overall...
Persistent link: https://www.econbiz.de/10010991763
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Sequences in Financial Liberalization in the Emerging-Market Economies: Growth, Volatility or Both?
K. Das, Dilip - In: Journal of Economic Integration 19 (2004), pp. 869-890
The objective of this paper is to in-depth study the financial liberalization process in the various segments of the … perspective to the financial liberalization process. It was believed that capital account liberalization led to volatility in the … liberalization, the author focuses on the liberalization-growth nexus. Capital account liberalization and whether it leads to growth …
Persistent link: https://www.econbiz.de/10009364792
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Fixed Investments and Capital Flows: A Real Options Approach
Chan-Lau, Jorge A.; Clark, P.B. - In: Journal of Economic Integration 21 (2006), pp. 816-836
This paper draws a link between international capital flows and the real options approach to investment by extending the development and cascade model applied by Grenadier (Journal of Finance 51, 1996) to real estate markets. This modified model rationalizes such phenomena as gradual investment,...
Persistent link: https://www.econbiz.de/10009392052
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Foreign Capital Inflows and the Current Account Imbalance: Which Causality Direction?
Yan, Ho-don; Yang, Cheng-lang - In: Journal of Economic Integration 23 (2008), pp. 434-461
The ongoing financial globalization has instigated growing concerns on the issue of benefits and costs from free international capital mobility. Past experiences in the emerging market countries indicate that foreign capital inflows could cause persistent current account deficits and lead to...
Persistent link: https://www.econbiz.de/10009415624
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Trade Openness and Urban Concentration: New Evidence
Nitsch, Volker - In: Journal of Economic Integration 21 (2006), pp. 340-362
that trade liberalization significantly reduces urban concentration. Similarly, openness is insignificant if trade is …
Persistent link: https://www.econbiz.de/10009392014
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Effects of Liberalization on Domestic Product Quality
Kabiraj, Tarun; Roy, Soma - In: Journal of Economic Integration 21 (2006), pp. 273-293
In a model of vertical product differentiation we study the impact of liberalization on the choice of the product … quality of a local monopolist. We show that under liberalization as one foreign firm enters with a superior quality, the local … the local firm goes up, its quality choice responds more under liberalization than under protection. However, its market …
Persistent link: https://www.econbiz.de/10009392027
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Measuring Services Trade Liberalization and Its Impact on Economic Growth: An Illustration
Mattoo, Aaditya; Rathindran, Randeep - In: Journal of Economic Integration 21 (2006), pp. 64-98
The paper has three purposes. First, it explains how the impact of liberalization of service sectors on output growth … differs from that of liberalization of trade in goods. Second, it suggests a policy-based rather than outcome-based measure of …
Persistent link: https://www.econbiz.de/10009392049