Recent theories and empirics suggest that trade openness increases world trade through production fragmentation across countries. In this paper we focus on the relationship between trade openness and firms¡¯ choices of vertical structure. We find firm-level data evidence that upon trade...

This paper examines the role of firm heterogeneity in the choice made by multinationals with regards to FDI type and location. Using Korean firm-level data, we find that highly productive firms are more likely than their less efficient counterparts to invest in tough markets and choose combined...

Using firm-level data on offshoring of Korean manufacturers, the paper examines the relationship between firm heterogeneity and the probability of adopting offshoring. The results of the paper suggest that firm productivity may not be an important determinant for Korean firms offshoring...

This paper examines the macroeconomic determinants of cross border M&As. Using a panel data set of bilateral M&A deal values for 101 countries and 17 years ranging from 1989 to 2005, we investigate both home and host country factors that may play an important role in determining the size and...

<heading format="display" id="h1" implicit="yes" level="1">Abstract</heading> This paper examines the macroeconomic determinants of cross-border mergers and acquisitions (M&As). Using a panel dataset of bilateral M&A deal values for 101 countries for 17 years ranging from 1989 to 2005, we investigate both home and host-country factors that may play an important...

Using firm-level data on offshoring of Korean manufacturers, this paper examines the relationship between firm heterogeneity and the probability of adopting offshoring. The results of the paper suggest that firm productivity may not be an important determinant for Korean firms' offshoring...

In the presence of preferential trade agreements (PTAs), there are two distinct levels of economic geography-global economic geography (GEG) between a PTA bloc and the world and local economic geography (LEG) between a PTA member and its PTA bloc. Using OECD data, we empirically examine whether...

How students should be allocated to schools to achieve educational goals is one of important debates on the construction of school systems. Promoters of comprehensive and selective school systems fail to reach a consensus on implications of each system for efficiency and equity of education....

Extending Krugman (1991)'s economic geography model, this paper examines a stability of an industrial structure resulting from production shifting-in effect of a formation of regional trade agreements. This paper claims that non-higher external trade costs against non-member countries may need...