The paper analyzes the effects of increasing capital market integration on production and market structures, trade and capital flows as well as national and global welfare. In order to facilitate the analysis of the integration process, three stages...

Using panel data for a large cross-country sample, we consider the influences of FDI inflows, inward development aid, and immigration on the informal sector. Both FDI and immigration increase the informal sector, with the effect of immigration being...

In this article, we briefly review our own work, and related studies, on the impact of FDI in African countries using firm level data. Overall, research suggests that foreign multinationals can indeed benefit local firms in terms of productivity...

The attraction of foreign direct investment (FDI) is considered to be of particular importance for emerging economies because it represents a channel through which international convergence in standards of living may be achieved. One important effect...

Deutschland hat seit Jahren einen Leistungsbilanzüberschuss, der international kritisiert wird. Die Bedeutung der deutschen Direktinvestitionen im Ausland ist dabei in den letzten Jahren stark angestiegen. Vor diesem Hintergrund untersucht diese...

We merge German balance-of-payments and foreign-affiliate-trade statistics to obtain data about trade in commercial services at the firm level. We use these data to study export market participation and the choice of export mode: cross-border versus...

We use Japanese microdata to examine how financial market frictions affect foreign direct investment (FDI). The Japanese land price bubble and banking trouble in the late 1980s and early 1990s serve as a quasi natural experiment to identify two...

While popular opinion often pictures FDI flowing in search of lowest-wage, lowest- skilled activities in emerging markets, actual FDI to such countries increasingly addresses medium to high-skilled manufacturing sectors. Such FDI might be called...

This paper considers the link between the local availability of services and a firm’s decision to become a multinational. This is a highly topical issue, given that many industrialised countries are increasingly becoming services economies and firms...