This study examines how foreign competition affects the capital structure of domestic firms, using Chinese firm-level data. We find that imports and inward foreign direct investment (FDI) have varying effects on a firm's leverage, indicating heterogeneity in the impact of different types of...

We examine the role of capital account policy pertaining to productivity growth and labor allocation at the sectoral level. Using panel data from 45 countries from 1985–2012, we find that capital controls combined with reserve accumulation — strategic capital account policy — contribute to...

Korea's consumer prices have increased beyond the inflation target (3.0±1%), which has resulted in growing concerns over inflation.- The increase is attributable to price run-ups in agricultural and livestock products, driven by a sharp increase in global commodity prices, extreme weather, and...