“Financial Liberalization” winds had blown for 1980s’ Turkey, affected from developed nations, resulted from the efforts of keeping in step with world trend, and hence the law that had been put into practice in 1989, “decree no.32”, had not only affected its era, also had left...

This study focuses on the theory of how multinational firms choose their entry modes between alternative options (i.e., trade, greenfield investment, or acquisition). In a comprehensive model of strategic decision-making with more than one multinational firm, it delineates how a multinational...

This study examines the choice of a multinational firm between two alternative entry modes, a greenfield investment and a joint venture, under incomplete information. The joint venture partner is selected by an auction, which distinguishes this study from other studies in the literature. A...

We study the impact of migration to the European Union on the volume of international trade in EU. We focus on Southern Mediterranean (such as Algeria, Egypt, Israel, Jordan, Lebanon, Morocco, Syria, Tunisia, and Turkey) and Eastern Europe (such as Albania, Bosnia and Herzegovina, Chech...

Since Dixit (1984), it is well accepted that a home country's best policy is to ban imports in an oligopolistic market if the resulting monopoly has a cost advantage over imports. This note (i) provides a formal proof and (ii) extends this result to symmetric firms. When domestic instruments are...

This study models competition between multinationals, sequentially entering the same market, and analyzes how they choose their entry modes between trade, greenfield investment and acquisition, and how competition amongst them affects their choices. I discuss two important factors that lead a...

This paper models competition among multinational firms in an environment of firm heterogeneity, incomplete cost information and strategic interaction. In this context, FDI serves as a signal of productivity: when firms sort into exporters and multinationals, they also show whether they have low...

We study the roles that migration and remittances play in the human capital formation of children in Egypt. Our estimations reveal a significant association between remittances and human capital formation: the higher the probability of receipt of remittances, the higher the probability of school...