In den 90er Jahren kam es zu einem weltweiten Boom bei den Direktinvestitionen. Im Gegensatz zu vergleichbaren Entwicklungen in den 80er Jahren haben auch eine Reihe von Entwicklungsländern in erheblichem Umfang Direktinvestitionskapital empfangen. Diese breitere Streuung hat auch...

The awarding of the Olympic Games to a certain city or the announcement of a city's Olympic bid may be considered as a news shock that affects agents' market expectations. A news shock implies potential impacts on the dynamic adjustment process that change not only the volatility but also the...

The awarding of the Olympic Games to a certain city or the announcement of a city's Olympic bid may be considered as a news shock that affects agents' market expectations. A news shock implies potential impacts on the dynamic adjustment process that change not only the volatility but also the...

Recent analyses relate increases in the growth rate of countries to anticipation effects caused by bidding for the Olympic Games, so called news shocks. We argue that these findings should be interpreted cautiously. First, these analyses may suffer from an omitted variable bias because they...

A recent study finds that Olympic Games host countries experience significant positive, lasting effects on exports. They interpret their results as an indication that countries use the hosting of such events to signal openness and competitiveness. The authors challenge these empirical findings...

We use a quasi-experimental research design to study the effects of a spatially targeted renewal policy implemented in Berlin, Germany, in the aftermath of the city's division during the Cold War period. Our results suggest that over the course of 20 years, the policy helped to reduce (increase)...

Rose & Spiegel (2011) find that Olympic Games host countries experience significant positive, lasting effects on exports. They interpret their results as an indication that countries use the hosting of such events to signal openness and competitiveness. We challenge these empirical findings on...

Urban revitalization programs are widespread used but empirically understudied place-based policy instruments which attract increasing attention in recent years. This study adds to the existing literature by evaluating the selection process which led to the designation of a set of five urban...

While urban renewal programs have become widely used policy measures to target urban development less is known about the reasons why certain areas are more responsive to policy inter-ventions than others. With this study we address some of these issues by analyzing an urban re-newal program in...