Capital account liberalization and foreign direct investment
نویسندگان
چکیده
منابع مشابه
Capital account liberalization and foreign direct investment
We examine the impact of capital account policies on FDI inflows. Using an annual panel dataset of 83 developing and developed countries for 1984-2000, we find that capital account openness is positively but only very moderately associated with the amount of FDI inflows after controlling for other macroeconomic and institutional measures. To a large extent, other country characteristics seem to...
متن کاملCapital Account Liberalization, Investment, and the Invisible Hand
Using a new dataset of 369 manufacturing firms in developing countries, we present the first firm-level analysis of capital account liberalization and investment. In the three-year period following liberalizations, the growth rate of the typical firm’s capital stock exceeds its preliberalization mean by an average of 4.1 to 5.4 percentage points per year. We use a simple model of Tobin’s q to d...
متن کاملCapital Controls, Liberalizations, and Foreign Direct Investment
Multinational firms circumvent capital controls by distorting their reported trade patterns, profitability, and dividend repatriations. The changed patterns of reported profits in response to capital controls are comparable to the effects of a 24% difference in corporate tax rates. The costliness of these acts of evasion combined with the significantly higher interest rates faced by multination...
متن کاملCapital Account Liberalization
We examine the impact of capital account policies on FDI inflows. Using an annual panel dataset of 83 developing and developed countries for 1984-2000, we find that capital account openness is positively but only very moderately associated with the amount of FDI inflows after controlling for other macroeconomic and institutional measures. To a large extent, other country characteristics seem to...
متن کاملCapital Account Liberalization and Wages
For three years after developing countries open their stock markets to inflows of foreign capital, the average annual growth rate of the real wage in the manufacturing sector increases by a factor of seven. No such increase occurs in a control group of developing countries that do not liberalize. The temporary increase in the growth rate of the real wage permanently drives up the level of avera...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: The North American Journal of Economics and Finance
سال: 2007
ISSN: 1062-9408
DOI: 10.1016/j.najef.2007.04.001