Search results for "InVEST"
showing 10 items of 2596 documents
Trade Liberalization and Heterogeneous Technology Investments
2015
We propose a trade model where heterogeneous firms decide on a productivity-enhancing technology investment. The model analyzes the impact of multilateral trade liberalization on firm- and industry-level productivity. Freer trade increases the incentives to invest in technology by raising export profits. It also dampens these incentives, however, as profits stemming from domestic sales are reduced. Only exporters benefit from the former positive effect. The shape of the distribution of efficiency draws, the level of trade costs and the technology intensity of the industry are key elements removing the ambiguities regarding the net impact of trade liberalization.
The Spanish Turn against Renewable Energy Development
2018
[EN] In this study, we focus on the case of Spanish energy policy and its implications for sustainable energy development. In recent years, Spanish legislation has changed dramatically in its approach to sustainable energy sources. This change is despite EU and international efforts to increase energy efficiency, and to accelerate the transition to renewable energy sources (RES) in order to reduce greenhouse gas emissions. Based on the socio-technical transitions literature, this paper assesses the role of the new legislation in this altered scenario, and analyzes the evolution of energy production in Spain in the EU context. The results are triangulated with two expert assessments. We find…
ASSESSMENT OF EUROPEAN COMISSION’S REGIONAL POLICY IMPACT ON REAL ESTATE INVESTMENT IN A POST-SOVIET CITY: CASE STUDY OF SELECTED NEIGHBOURHOODS IN R…
2012
Europe 2020 strategy, the replacement of Lisbon strategy for jobs and growth, is an “umbrella strategy” for development of all policy areas in countries of European Union, EU setting concrete target aims to be reached until year 2020 that are ambitious than the previous Lisbon strategy. All other policies of European Commission, EC or Commission, are supporting the Europe 2020 strategy, including the EC’s regional. Nowadays, growth and development at a local level within EU is seen as part of Commission’s regional policy aimed at contributing to the “umbrella strategy”. Its purpose is to help to achieve the overall goals of Europe 2020 strategy. EC’s regional policy in point of fact is an …
Venture Capitalists' Decision to Syndicate.
2006
International audience; Financial theory, access to deal flow, selection, and monitoring skills are used to explain syndication in venture capital firms in six European countries. In contrast with U.S. findings, portfolio management motives are more important for syndication than individual deal management motives. Risk sharing, portfolio diversification, and access to larger deals are more important than selection and monitoring of deals. This holds for later stage and for early stage investors. Value adding is a stronger motive for syndication for early stage investors than for later stage investors, however. Nonlead investors join syndicates for the selection and value-adding skills of t…
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 …
The land grabbing in the international scenario: the role of the EU in land grabbing
2016
The worldwide increase in population and consumption has produced a growing demand for food and energy in the rich and developing Countries. The resulting intensification of land investments, to cope with this need, has in many cases produced investments without transparency rules and it hasn't created real development for local people. The aim of this paper is to identify, through a cluster analysis, homogeneous groups of investor Countries in order to understand the role of the EU Member States in the context of land grabbing. The results show that the strategies adopted by the investors are driven by the need to achieve energy security and reduce CO2 emissions in order to cope with the p…
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.