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Adjustment of State Owned and Foreign-Funded Enterprises in China to Economic Reforms,1980s-2007: a logistic smooth transition regression (LSTR) approach

Aizenman, Joshua; Geng, Nan - National Bureau of Economic Research (NBER) - 2009

added production function of the State Owned (SOE) and Foreign-Funded Enterprises (FFE) in China, 1980s-2007. The transition … associated with the economic reforms in China is estimated applying a curvilinear logistic function, where the speed and the …

Persistent link: https://www.econbiz.de/10005034349

Financial Liberalization in Latin-America in the 1990s: A Reassessment

Aizenman, Joshua - National Bureau of Economic Research (NBER) - 2005

This paper studies the experience of Latin-America [LATAM] with financial liberalization in the 1990s. The rush towards financial liberalizations in the early 1990s was associated with expectations that external financing would alleviate the scarcity of saving in LATAM, thereby increasing...

Persistent link: https://www.econbiz.de/10005714715

Assessing International Efficiency

Heathcote, Jonathan; Perri, Fabrizio - National Bureau of Economic Research (NBER) - 2013

This paper is structured in three parts. The first part outlines the methodological steps, involving both theoretical and empirical work, for assessing whether an observed allocation of resources across countries is efficient. The second part applies the methodology to the long-run allocation of...

Persistent link: https://www.econbiz.de/10010796707

A Pragmatic Approach to Capital Account Liberalization

Prasad, Eswar; Rajan, Raghuram G. - National Bureau of Economic Research (NBER) - 2008

Cross-country regressions suggest little connection from foreign capital inflows to more rapid economic growth for …

Persistent link: https://www.econbiz.de/10005050139

Capital Flow Types, External Financing Needs, and Industrial Growth: 99 countries, 1991-2007

Aizenman, Joshua; Sushko, Vladyslav - National Bureau of Economic Research (NBER) - 2011

We examine the differential impact of portfolio debt, portfolio equity, and FDI inflows on 37 manufacturing industries, 99 countries, 1991-2007, extending Rajan-Zingales (1998). We utilize external finance dependence measures in a series of cross-sectional regressions of manufacturing...

Persistent link: https://www.econbiz.de/10009226941

Capital flows: Catalyst or Hindrance to economic takeoffs?

Aizenman, Joshua; Sushko, Vladyslav - National Bureau of Economic Research (NBER) - 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/10009228892

How Does Foreign Direct Investment Promote Economic Growth? Exploring the Effects of Financial Markets on Linkages

Alfaro, Laura; Chanda, Areendam; Kalemli-Ozcan, Sebnem; … - National Bureau of Economic Research (NBER) - 2006

country generated by foreign multinational companies. We propose a mechanism that emphasizes the role of local financial … markets in enabling foreign direct investment (FDI) to promote growth through backward linkages, shedding light on this … empirical ambiguity. In a small open economy, final goods production is carried out by foreign and domestic firms, which compete …

Persistent link: https://www.econbiz.de/10005778297

Trade And Industrialisation After Globalisation's 2nd Unbundling: How Building And Joining A Supply Chain Are Different And Why It Matters

Baldwin, Richard - National Bureau of Economic Research (NBER) - 2011

Revolutionary transformations of industry and trade occurred from 1985 to the late-1990s - the regionalisation of supply chains. Before 1985, successful industrialisation meant building a domestic supply chain. Today, industrialisers join supply chains and grow rapidly because offshored...

Persistent link: https://www.econbiz.de/10009403424

Political Risk Spreads

Bekaert, Geert; Harvey, Campbell; Lundblad, Christian; … - National Bureau of Economic Research (NBER) - 2014

sovereign bond data. Finally, we link our political risk spreads to foreign direct investment. We show that a one percent point … reduction in the political risk spread is associated with a 12 percent increase in net-inflows of foreign direct investment. …

Persistent link: https://www.econbiz.de/10010951038

The Comovement of Returns and Investment Within the Multinational Firm

Desai, Mihir A.; Foley, C. Fritz - National Bureau of Economic Research (NBER) - 2004

Can financial integration, particularly the cross-border investments of multinational firms, help explain the synchronization of business cycles? This paper presents evidence on the comovement of returns and investment within U.S. multinational firms to address this question. These firms...

Persistent link: https://www.econbiz.de/10005580796