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Political Risk and the Institutional Environment for Foreign Direct Investment in Latin America

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Book Series: Goettinger Studien zur Entwicklungsoekonomik / Goettingen Studies in Development Economics ISBN: 9783631533468 Year: Pages: 342 DOI: 10.3726/b13886 Language: English
Publisher: Peter Lang International Academic Publishing Group
Subject: Economics --- Political Science
Added to DOAB on : 2019-01-15 13:32:27
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Abstract

The intensification of capital flows is an important characteristic of globalization. Attracting foreign direct investment is a viable way of ensuring the external financing of developing countries. Foreign direct investment flows, in turn, are determined by the decisions of multinational enterprises. One important determinant of investment decisions is the political environment of potential host countries. Political risks like expropriations, riots, revolutions or civil wars are important obstacles for investment. This book empirically analyzes the impact of political risks on foreign direct investment flows to Latin American countries. A case study of Mexico and its policy towards foreign investors offers further empirical evidence for the importance of the political environment for investment decisions of multinationals.

Essays in International Trade and Public Economics

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Book Series: Finanzwissenschaftliche Schriften ISBN: 9783631621394 Year: Pages: 139 DOI: 10.3726/b13718 Language: English
Publisher: Peter Lang International Academic Publishing Group
Subject: Economics
Added to DOAB on : 2019-01-15 13:32:35
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The essays of this book are contributions to the empirical Literature in International Trade and Public Economics. They deal with the relationship between the structure and quality of the public sector and the process of economic integration. Two of the essays add to the empirical determinants of trade and foreign direct investment (FDI) and to the numerous applications of the theory of government decentralization. Decentralization tends to discourage inward FDI and domestic trade and to increase imports and exports. A third essay focuses on the effect of governments’ intangible assets – such as consumer perceptions about countries and products from these countries – on FDI. A country’s nation brand is shown to have a significant and large positive effect on investment flows.

Interest-Rate Rules in a New Keynesian Framework with Investment

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Book Series: Schriften zur Wirtschaftstheorie und Wirtschaftspolitik ISBN: 9783631611289 Year: Pages: 162 Language: English
Publisher: Peter Lang International Academic Publishing Group
Subject: Economics --- Political Science
Added to DOAB on : 2019-01-15 13:33:00
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The last decades have witnessed major progress in both monetary policy theory and practice, with broad academic consensus on the desirability of monetary policy rules and ongoing research on their exact specification. Typically, the analysis is carried out in a New Keynesian framework with nominal rigidities and constant capital stock. The latter represents a constraint that this study seeks to overcome by introducing a model with investment and capital adjustment costs. The work assesses different interest-rate rule specifications with respect to the target variables included, based on two criteria: determinacy of rational-expectations equilibrium and convergence to steady state after a shock. The study concludes that rules with both an inflation and an output gap target ensure a unique rational-expectations equilibrium and a less distressful adjustment of the economy after the occurrence of shocks.

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