World Market Integration Through the Lens of Foreign Direct Investors PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download World Market Integration Through the Lens of Foreign Direct Investors PDF full book. Access full book title World Market Integration Through the Lens of Foreign Direct Investors by Luis Serven. Download full books in PDF and EPUB format.
Author: Luis Serven Publisher: World Bank Publications ISBN: Category : Globalization Languages : en Pages : 60
Book Description
Albuquerque, Loayza, and Serven analyze the unparalleled increase in foreign direct investment to emerging market economies in the past 25 years. Using a large cross-country timeseries data set, the authors evaluate the dependence of foreign direct investment on global factors or worldwide sources of risk (that is, factors that drive foreign direct investment across several countries). They construct a globalization measure that equals the share of explained variation in direct investment attributable to global factors. The authors show that the globalization measure has increased steadily for industrial and developing countries. For the full sample of countries, the globalization measure rose eightfold from 1985 to 1999. Furthermore, in recent years developing countries' exposure to global factors has approached that of industrial countries, particularly for Latin America. Finally, the globalization measure correlates strongly with measures of capital market liberalization. Overall, the authors find strong support for the hypothesis of increased market integration which implies a greater role for worldwide sources of risk. They discuss the implications of the results for public policies regarding capital market liberalization and policies directed at attracting foreign investment.This paper - a product of Macroeconomics and Growth, Development Research Group - is part of a larger effort in the group to understand international capital flows.
Author: Luis Serven Publisher: World Bank Publications ISBN: Category : Globalization Languages : en Pages : 60
Book Description
Albuquerque, Loayza, and Serven analyze the unparalleled increase in foreign direct investment to emerging market economies in the past 25 years. Using a large cross-country timeseries data set, the authors evaluate the dependence of foreign direct investment on global factors or worldwide sources of risk (that is, factors that drive foreign direct investment across several countries). They construct a globalization measure that equals the share of explained variation in direct investment attributable to global factors. The authors show that the globalization measure has increased steadily for industrial and developing countries. For the full sample of countries, the globalization measure rose eightfold from 1985 to 1999. Furthermore, in recent years developing countries' exposure to global factors has approached that of industrial countries, particularly for Latin America. Finally, the globalization measure correlates strongly with measures of capital market liberalization. Overall, the authors find strong support for the hypothesis of increased market integration which implies a greater role for worldwide sources of risk. They discuss the implications of the results for public policies regarding capital market liberalization and policies directed at attracting foreign investment.This paper - a product of Macroeconomics and Growth, Development Research Group - is part of a larger effort in the group to understand international capital flows.
Author: Rui A. Albuquerque Publisher: ISBN: Category : Languages : en Pages : 40
Book Description
This paper is motivated by the unparalleled increase in foreign direct investment to emerging market economies of the last 25 years. Using a large cross-country time-series data set, we evaluate the dependence of foreign direct investment on global factors, or worldwide sources of risk (i.e., factors that drive foreign direct investment across several countries). We construct a globalization measure that equals the share of explained variation in direct investment attributable to global factors. We show that our globalization measure has increased steadily for developing and developed countries. For the full sample of countries, the globalization measure rose by over ten-fold from 1985 to 1999. Furthermore, in recent years developing countries' exposure to global factors has approached that of developed countries. Finally, our globalization measure correlates strongly with measures of capital market liberalization, supporting our hypothesis that increased market integration leads to a greater role for worldwide sources of risk. We discuss the implications of our results for public policies regarding capital market liberalization and policies directed at attracting foreign investment.
Author: Bart?omiej Kami?ski Publisher: World Bank Publications ISBN: Category : European Union countries Languages : en Pages : 34
Book Description
Integration into the production and marketing arrangements of multinational corporations may offer many benefits to transition economies that, after a long period of isolation, have liberalized trade and investment. The fragmentation of production offers a unique opportunity for producers in developing countries to move from servicing small local markets to supplying large firms abroad and, indirectly, their customers all over the world.
Author: Jeremy Alden Publisher: Taylor & Francis ISBN: 1136038728 Category : Architecture Languages : en Pages : 331
Book Description
With the emergence of a truly global marketplace, regions now face far greater competition in attracting outside investment, and multinational companies have to consider local conditions on many levels before choosing to invest. Foreign Direct Investment and the Global Economy looks at the pattern of FDI and its impacts on the global, regional (trade block), national and sub-national scales. The contributors describe the much discussed global-local interlay apparent in the operations of multinational companies and their involvement with 'regulatory' institutions at different levels, from the global to the local.
Author: Mr.Michael Mussa Publisher: International Monetary Fund ISBN: 145195039X Category : Business & Economics Languages : en Pages : 66
Book Description
This paper discusses the extent to which national capital markets have become linked, and identifies several of the more important consequences of that increased degree of integration. Alternative approaches to the measurement of capital market integration are reviewed, including deviations from the law of one price, differences between actual and optimally diversified portfolios, correlations between domestic investment and domestic saving, and cross-country links in consumption behavior. Two recent episodes of large-scale international capital flows—namely, the turmoil in the European Monetary System in the fall of 1992, and the surge of capital inflows into Latin America during the last three years—are examined for insights into the workings of today’s global capital market. Finally, the paper offers some concluding remarks on the future development of international capital markets, on exchange rate management, on alternative approaches to living with larger and more influential financial markets, and on the financing of investment in the formerly centrally planned economies.
Author: Bartlomiej Kaminski Publisher: ISBN: Category : Languages : en Pages : 28
Book Description
Integration into the production and marketing arrangements of multinational corporations may offer many benefits to transition economies that, after a long period of isolation, have liberalized trade and investment. The fragmentation of production offers a unique opportunity for producers in developing countries to move from servicing small local markets to supplying large firms abroad and, indirectly, their customers all over the world.Not until the end of the twentieth century, the quot;second globalization,quot; has the ratio of trade to GDP been comparable to that during the first globalization, which took place at the end of the nineteenth century and was interrupted by World War I. Technological progress has increased the importance of the international division of labor and of global production and distribution networks. Multinational corporations have been a driving force behind these developments. As a transition economy, Poland provides an interesting case for study, as its sudden opening to foreign investment after a long period of isolation allows the process of integration into global networks to be studied more clearly.Using Poland as a case study, Kaminski and Smarzynska study multinational corporations' role in integrating a host country into the increasingly international division of labor. They provide evidence that inflows of foreign direct investment are increasing Poland's participation in global production and distribution networks. They conclude that because of the large volume of foreign direct investment inflows expected in Poland in the near future, Poland's exports - driven by fragmented production - will continue to expand at even faster rates than observed there recently.This paper - a product of Trade, Development Research Group - is part of a larger effort in the group to study the effects of foreign direct investment on economic activity.
Author: Eamonn Killian Publisher: Eamonn Killian ISBN: Category : Law Languages : en Pages : 58
Book Description
The free movement of capital within the EU is the laggard freedom, perhaps emanating from its ill-bounded contingent character as drafted in Article 67 of the original Treaty, or being ruled as not directly effective, or its close proximity to sovereignty and subsidiarity considerations. Clearly there must be significant operational inhibitors, as well as political considerations which have frustrated efforts (from Segre and Werner onwards) to remove the barriers and emancipate the flows of capital. Recent events however, serve to highlight the fragility of our predicament on the global financial stage with significant systemic risks emanating from the globalisation of capital and foreign direct investment. The Commissions answer is to centralise EU regulation with the introduction of new supranational authorities whose binding powers and remit is to drive forward the harmonisation of financial regulation and supervision. Perhaps we’ve heard this before? As the purposefully incendiary title suggests this dissertation shall investigate the importance of capital, its closeness to sovereignty, the previous EU regulatory experiences, the operative mechanisms necessary to regulate and supervise financial services, and utilise a hypothesis based approach to examine the renewed drive by the Commission to centralise the management of financial risk across the EU set against the key dimensions of certainty, coherency, competency, and sovereignty.
Author: International Monetary Fund Publisher: International Monetary Fund ISBN: 1455201154 Category : Business & Economics Languages : en Pages : 40
Book Description
What accounts for variations in FDI flows from advanced to developing countries? How have FDI inflows explained cross-country growth experiences? In this paper we tackle both these questions empirically for a large sample of middle and low-income countries. Two key results emerge: (i) lower borrowing costs and positive real-side external factors were increasingly important drivers of FDI outflows to low-income countries in the pre-crisis period; (ii) economic fundamentals, the strength of economic reforms, and commitment to macroeconomic discipline are crucial determinants of the growth dividends of FDI. Our paper suggests that low-income countries can turn to domestic policy solutions to mitigate the adverse effects of a potential decline in FDI in the post-crisis world.
Author: Steven M. Chermak Publisher: Routledge ISBN: 135187781X Category : Law Languages : en Pages : 352
Book Description
The dramatic terrorist attacks of 9/11 highlighted significant gaps in research on the topic as governments, community groups, social service agencies and law enforcement agencies were forced to respond without any evidence-based guidance on best practices for tactics, strategies, and policy development. The essays selected for this volume demonstrate that transnational terrorism is now a thriving area of study and display the breadth and depth of scholarship that has recently been published. The research draws attention to global patterns of transnational terrorism; highlights various structural and cultural explanations; provides an overview of some of the ways that terrorism impacts society; and discusses strategies used to effectively respond to transnational terrorism. This volume, which is of interest to academics, policymakers and practitioners, provides a repository of some of the best contemporary research in this field.
Author: Luis Serven
Author: Luis Serven
Author: Rui A. Albuquerque
Author: Bart?omiej Kami?ski
Author: Jeremy Alden
Author: Mr.Michael Mussa
Author: Bartlomiej Kaminski
Author: Bartlomej Kaminski
Author: Eamonn Killian
Author: International Monetary Fund
Author: Steven M. Chermak