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Foreign Direct Investment in a World of Multiple Taxes

Desai, Mihir A.; Hines, James R. - 2022

While governments have multiple tax instruments available to them, studies of the effect of tax policy on the locational decisions of multinationals typically focus exclusively on host country corporate income tax rates and their interaction with home country tax rules. This paper examines the...

Persistent link: https://www.econbiz.de/10014126301

How Important is the Global Financial Cycle? Evidence from Capital Flows

Cerutti, Eugenio M. - 2017

This study quantifies the importance of a Global Financial Cycle (GFCy) for capital flows. We use capital flow data dis-aggregated by direction and type between 1990Q1 and 2015Q5 for 85 countries, and conventional techniques, models and metrics. Since the GFCy is an unobservable concept, we use...

Persistent link: https://www.econbiz.de/10012948455

Globalization and the Increasing Correlation between Capital Inflows and Outflows

Davis, Scott - 2017

We document that the correlation between capital inflows and outflows has increased substantially over time in a sample of 128 advanced and developing countries. We provide evidence that this is a result of an increase in financial globalization (stock of external assets and liabilities). This...

Persistent link: https://www.econbiz.de/10012949930

The Role of Foreign Direct Investment in International Capital Flows

Lipsey, Robert E. - 2021

absorbing much of the world's supply, especially in the late 1980s, and then reverted to its earlier net supplier role. Direct …

Persistent link: https://www.econbiz.de/10013227036

Foreign Direct Investment and the Operations of Multinational Firms : Concepts, History, and Data

Lipsey, Robert E. - 2021

international capital flows, and the resulting production has increased as a share of world output, but it was still only about 8 … world, accounting for about half of the world's stock in 1960. Since then, other countries have become major direct … investors. The U.S. share is now less than a quarter of the world total and the United States has become a major recipient of …

Persistent link: https://www.econbiz.de/10013243420

Home Bias in Open Economy Financial Macroeconomics

Coeurdacier, Nicolas - 2011

Home bias is a perennial feature of international capital markets. We review various explanations of this puzzling phenomenon highlighting recent developments in macroeconomic modelling that incorporate international portfolio choices in standard two-country general equilibrium models. We refer...

Persistent link: https://www.econbiz.de/10013117208

Capital Flows and Economic Growth in the Era of Financial Integration and Crisis, 1990-2010

Aizenman, Joshua - 2011

We investigate the relationship between economic growth and lagged international capital flows, disaggregated into FDI, portfolio investment, equity investment, and short-term debt. We follow about 100 countries during 1990-2010 when emerging markets became more integrated into the international...

Persistent link: https://www.econbiz.de/10013119605

Capital Flows : Catalyst or Hindrance to Economic Takeoffs?

Aizenman, Joshua - 2011

This paper applies a probit estimation to assess the relationship between economic takeoffs during 1950-2000 and inflows of portfolio debt, portfolio equity, and FDI, controlling for country's stock of short-term external debt and commodity terms of trade. Average level of FDI inflows is...

Persistent link: https://www.econbiz.de/10013122019

National Saving and International Investment

Feldstein, Martin S.; Bacchetta, Philippe - 2021

This paper extends earlier work by Feldstein and Horioka on the relation between domestic saving rates and international capital flows or, equivalently, between domestic saving rates and domestic investment. The basic conclusion of the present analysis is that an increase in domestic saving has...

Persistent link: https://www.econbiz.de/10013245725

Covid-19 and Emerging Markets : An Epidemiological Model with International Production Networks and Capital Flows

Çakmaklı, Cem - 2020

We quantify the macroeconomic effects of COVID-19 for emerging markets using a SIR-multisector-small open economy model and calibrating it to Turkey. Domestic infection rates feed into both sectoral supply and sectoral demand shocks. Sectoral demand shocks also incorporate lower external demand...

Persistent link: https://www.econbiz.de/10012833730