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Chains of Ownership, Regional Tax Competition, and Foreign Direct Investment

Desai, Mihir A. - 2002

parent company and level of FDI. Tax effects are particularly strong within Europe, where ten percent higher tax rates are …

Persistent link: https://www.econbiz.de/10012469485

The Marshall Plan : History's Most Successful Structural Adjustment Program

De Long, J. Bradford - 1991

The post-World War II reconstruction of Western Europe was one of the greatest economic policy and foreign policy … that transferred some $13 billion to Europe in the years 1948-51. We examine the economic effects of the Marshall Plan, and … role in setting the stage for post-World War II Western Europe's rapid growth. The conditions attached to Marshall Plan aid …

Persistent link: https://www.econbiz.de/10012475088

Relaxing the External Constraint : Europe in the 1930s

Eichengreen, Barry - 1990

This paper documents the effects of exchange rates and the external constraint during the interwar years. In the absence of international policy coordination, exchange rate depreciation is shown to have been a necessary precondition for the adoption of policies promoting recovery from the Great...

Persistent link: https://www.econbiz.de/10012475621

The Mother of All Sudden Stops : Capital Flows and Reversals in Europe, 1919-32

Accominotti, Olivier - 2013

financial centers at the end of the 1920s figured importantly in the decline in foreign lending. We draw parallels with Europe …

Persistent link: https://www.econbiz.de/10012459081

Multinational Firms, FDI Flows and Imperfect Capital Markets

Antràs, Pol - 2007

This paper examines how costly financial contracting and weak investor protection influence the cross-border operational, financing and investment decisions of firms. We develop a model in which product developers have a comparative advantage in monitoring the deployment of their technology...

Persistent link: https://www.econbiz.de/10012465801

Capital Structure with Risky Foreign Investment

Desai, Mihir A. - 2006

American multinational firms respond to politically risky environments by adjusting their capital structures abroad and at home. Foreign subsidiaries located in politically risky countries have significantly more debt than do other foreign affiliates of the same parent companies. American firms...

Persistent link: https://www.econbiz.de/10012466392

Economic Effects of Regional Tax Havens

Desai, Mihir A. - 2004

How does the opportunity to use tax havens influence economic activity in nearby non-haven countries? Analysis of affiliate-level data indicates that American multinational firms use tax haven affiliates to reallocate taxable income away from high-tax jurisdictions and to defer home country...

Persistent link: https://www.econbiz.de/10012467883

The Comovement of Returns and Investment Within the Multinational Firm

Desai, Mihir A. - 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/10012467905

Financial Constraints and Growth : Multinational and Local Firm Responses to Currency Crises

Desai, Mihir A. - 2004

This paper studies the effects of financial constraints on firm growth by investigating if large depreciations differentially impact multinational affiliates and local firms in emerging markets. U.S. multinational affiliates increase sales, assets and investment significantly more than local...

Persistent link: https://www.econbiz.de/10012468148

Capital Controls, Liberalizations, and Foreign Direct Investement

Desai, Mihir A. - 2004

Affiliate-level evidence indicates that American multinational firms circumvent capital controls by adjusting their reported intrafirm trade, affiliate profitability, and dividend repatriations. As a result, the reported profit impact of local capital controls is comparable to the effect of 24...

Persistent link: https://www.econbiz.de/10012468355