This study attempts to address the causal-order between inward FDI and economic growth using a panel data set for two different Economic Associations that is EU (European Union) and ASEAN (Association of South Eastern Asian Nations) over the period 1970-2003. The inflows of FDI to developed host...

This paper examines empirically whether and how regional integration leads to convergence and growth amongst developing countries. Using standard growth models for nearly 100 developing countries over 1970-2004 we cannot establish robust growth effects of regional integration as such at the...

We use the investments of Chinese and Indian MNCs in Europe to test the hypothesis that the main motivation of the Southern MNCs for investing in the Northern countries is asset- or technology- seeking. After showing that the previous work has not adequately tested this hypothesis due to its use...

Similar to Chile in the 1990s, Slovenia has introduced an unremunerated reserve requirement (URR) on financial credits in 1995. We find that the URR has not been effective in reducing overall inflows of foreign capital. Hence, the gain in monetary autonomy has been limited. While the overall...

The objective of this paper is to in-depth study the financial liberalization process in the various segments of the emerging-market economies and observe whether the resulting assertion of fast-clip real GDP growth holds. The author examines financial and macroeconomic turbulence in the...

Linkages among real interest rates in the Gulf Cooperation Council coun - tries and the US are investigated using a variety of time series tests. These tests provide an evidence of strong linkages among real interest rates within the GCC countries and between the GCC rates and the US real...

Since the end of the Second World War, economic integration has been regarded as being one of the most important global economic policies. Its relevance has not diminished and most countries, especially those that are developing, consider it to be a long-term strategy. Integration is present in...

The East Asian currency crisis of 1997-98 has led to considerable interest on the interlinkages between foreign exchange markets in the Asian region. Implicit in the literature is the assumption that the currency crisis can be linked to close integration of the goods and capital markets of the...

In this paper we analyze the main characteristic features of foreign direct investment (FDI) directed to Spanish manufacturing, both across industries and through time, for the years 1986-1992. During this period, Spain was one of the most important recipients of FDI inflows in the world,...

This paper applies a global general equilibrium model to quantify the impact on the global and regional economies of liberalising trade in financial services. The paper uses recent estimates of trade barriers for financial services in both developed and developing countries. The simulation...