Search results for " direct investment"
showing 10 items of 122 documents
COVID-19 y libre circulación de inversiones: un (muy) difícil matrimonio (COVID-19 and Free Movement of Investment: A (Very) Difficult Marriage)
2020
Spanish Abstract: Las inversiones extranjeras estan siendo objeto de una aproximacion mas cautelosa y critica en los ultimos anos en gran numero de paises. Una posicion que se refleja en su regimen juridico y se manifiesta, entre otros extremos, en el diseno de mecanismos de control previo con base en su eventual contrariedad con la seguridad nacional del pais receptor. La pandemia del COVID-19 no ha hecho sino acentuar esta tendencia. La posicion mantenida por la UE al respecto, y la suspension de la libre circulacion de inversiones decidida por el Gobierno espanol son manifestaciones de ello que, todo apunta, han venido para perdurar. English Abstract: In recent years, foreign investment …
Dziļas un visaptverošas brīvās tirdzniecības nolīguma loma ārvalstu tiešo investīciju plūsmās no ES uz Gruziju un Moldovu
2018
Šajā maģistra darbā tiek izvērtētas un analizētas savstarpējās attiecības starp padziļinātajiem un visaptverošajiem brīvās tirdzniecības līgumiem (DCFTA), kas ir parakstīti starp ES-Gruziju un ES-Moldovu, kā arī apskatīti ārvalstu tiešie ieguldījumi (FDI) no Eiropas Savienības uz uzņēmējvalstīm Gruziju un Moldovu. Izmantojot parakstīto Asociāciju piekrišanas (Asssociation Agreement) materiālu kvalitatīvajā kontentanalīzē, tas paplašina ieskatu tirdzniecības līgumu attiecībās un FDI kustībā un apritē Austrumu partneru valstīs, t.i., Gruzijā un Moldovā, saistībā ar šo valstu tirdzniecības attiecībām ar Eiropas Savienību. FDI nozīmīguma loma ekonomikas attīstībā pasaulē ir ievērojumi augusi. N…
Corruption and Organised Crime Signalling Indicators for Foreign Investors as Applied to Eastern European Countries
2021
The former communist countries in Central and Eastern Europe and, implicitly, their economies, went through specific and sometimes asymmetric developments since the fall of the “iron curtain” at the end of the 1980s. During those years, they faced many challenges to create a secure and predictable economic environment for individuals and businesses, local or foreign. We propose a framework that considers legal, social, and economic indicators which can be used by foreign investors to make wise and efficient business decisions. Our main purpose is to expand the traditional economic analysis framework and enrich it with new institutional and societal indicators from the social, quality of lif…
Do Multinationals Deteriorate Developing Countries' Export Prices? The Impact of FDI on Net Barter Terms of Trade
2015
This paper explores the economic relationship between foreign direct investment (FDI) to developing countries and the export prices of the latter, measured by terms of trade. It is rst shown that economic theory suggests such a relationship for various reasons but is inconclusive about the direction of the eect. To address this open issue empirically, I analyze data on more than 50 developing countries throughout the period 1980 - 2008 using robust dynamic panel data methods. The results show that FDI had an economically relevant and statistically signicant positive impact on developing countries’ net barter terms of trade. A higher level of education in the developing country fosters this …
Foreign sourcing and exporting
2020
The aim in this paper is analysing the role of sourcing intermediate inputs internationally on export decisions, distinguishing whether intermediate are sourced from firms belonging to the same business group or from independent suppliers. To analyse firm’s export decision, we use a specification that also accounts for sunk costs and the accumulated experience in export markets (i.e., foreign markets learning). We consider that importing intermediates might have direct and indirect effects (operating through productivity) on the export participation decision. The direct effects on exporting are isolated once we control for productivity and the effects of belonging to an international group.…
Bilateral De-Jure Exchange Rate Regimes and Foreign Direct Investment: A Gravity Analysis
2021
Abstract This paper introduces a novel dataset on bilateral de-jure exchange rate regimes. The new dataset accounts for the fact that officially pegging to one currency is uninformative about the exchange rate regime prevailing vis-a-vis other currencies, and it allows characterizing bilateral exchange rate regimes based on countries’ ex-ante announcements rather than ex-post observations. We use this data to estimate the effect of expected exchange rate volatility on foreign direct investment (FDI). Starting from a simple model that suggests that announced exchange rate stability enhances bilateral FDI flows, we provide empirical evidence that lends support to this claim: countries that ar…
Migration and fdi: the role of job skills
2018
Abstract Using a multi-country gravity framework, this paper models and quantifies the relevance of migrants' job position in fostering Foreign Direct Investment (FDI). High-skilled migrants are defined as those individuals born in the investors' home/host country occupying managerial or professional positions in the host/home country of investment. Our estimates show that higher shares of migrants with management skills in a given country promote FDI into that country. In contrast, an increase in the share of migrants in non-qualified positions (regardless of their educational attainment) has a negative impact on FDI decisions. These findings highlight that the FDI-enhancing effect of migr…
The Effect of Nominal Exchange Rate Volatility on Real Macroeconomic Performance in the CEE Countries
2011
Working Paper Gate 09-34; International audience; This paper analyzes the relation between nominal exchange rate volatility and several macroeconomic variables, namely real per output growth, excess credit, foreign direct investment (FDI) and the current account balance, in the Central and Eastern European EU Member States. Using panel estimations for the period between 1995 and 2008, we find that lower exchange rate volatility is associated with higher growth, higher stocks of FDI, higher current account deficits, and higher excess credit. The results are economically and statistically significant, and robust.
Foreign Direct Investment Spillovers: Evidence from the British Retail Sector
2011
This paper discusses the impact of foreign-ownership presence on the productivity performance of British-owned domestic retailers. In particular, we analyse the existence of productivity spillovers, in the form of knowledge transfer, by using establishment-level data from the Annual Respondents Database over the period 1997–2003. The results confirm the presence of such spillovers and highlight their positive and significant impact on the productivity of domestic firms, although these spillovers are mostly confined to the region in which foreign subsidiaries locate. There is also evidence that the productivity benefit from regional foreign direct investment spillovers increases with the abs…
The effect of episodes of large capital inflows on domestic credit
2012
This paper analyses the effect of capital inflow surges on the evolution of domestic credit. Using a panel of developed and emerging economies from 1970 to 2007, it is shown that in the two years following the beginning of a capital inflow surge the credit-to-GDP ratio increases by about 2 percentage points. The effect is reversed in the medium-term with the credit-to-GDP ratio decreased by almost 4 percentage points seven years after the initial surge. The paper also finds that the effect is different depending on the type of flows characterising the episode (debt vs. portfolio equity vs. FDI), with large capital inflows that are debt-driven having the largest effect. The results of the pa…