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Macroeconomic And Political Determinants Of Foreign Direct Investment In The Middle East, Robin Barnaby Calver Jul 2013

Macroeconomic And Political Determinants Of Foreign Direct Investment In The Middle East, Robin Barnaby Calver

Dissertations and Theses

This study argues that governments with sustained GDP growth, open markets, low country risk, high levels and low standard deviation of government performance, and few or no occurrences of war, will see larger levels of foreign direct investment (FDI) over time. Scholarship on the determinants of FDI variously argues the influence of GDP growth, the openness of a country's economy, a government's level of political capacity, the level of country risk, and the negative effects of inter-, intra- and extrastate conflict. These studies on the various effects on FDI, while providing insightful and substantial statistical results, fail to ...


Application Of An Adaptive Step-Size Algorithm In Models Of Hyperinflation, Olena Kostyshyna Jan 2012

Application Of An Adaptive Step-Size Algorithm In Models Of Hyperinflation, Olena Kostyshyna

Economics Faculty Publications and Presentations

An adaptive step-size algorithm [Kushner and Yin, Stochastic Approximation and Recursive Algorithms and Applications, 2nd ed., New York: Springer-Verlag (2003)] is used to model time-varying learning, and its performance is illustrated in the environment of Marcet and Nicolini [American Economic Review 93 (2003), 1476ā€“1498]. The resulting model gives qualitatively similar results to those of Marcet and Nicolini, and performs quantitatively somewhat better, based on the criterion of mean squared error. The model generates increasing gain during hyperinflations and decreasing gain after hyperinflations end, which matches findings in the data. An agent using this model behaves cautiously when faced with ...


The Financial Crisis, Rethinking Of The Global Financial Architecture, And The Trilemma, Joshua Aizenman, Menzie David Chinn, Hiro Ito Apr 2010

The Financial Crisis, Rethinking Of The Global Financial Architecture, And The Trilemma, Joshua Aizenman, Menzie David Chinn, Hiro Ito

Economics Faculty Publications and Presentations

This paper extends our previous paper (Aizenman, Chinn, and Ito 2008) and explores some of the unexplored questions. First, we examine the channels through which the trilemma policy configurations affect output volatility. Secondly, we investigate how trilemma policy configurations affect the output performance of the economies under severe crisis situations. Thirdly, we look into how trilemma configurations have evolved in the aftermath of economic crises in the past. We find that trilemma policy configurations and external finances affect output volatility mainly through the investment channel. While a higher degree of exchange rate stability could stabilize the real exchange rate movement ...


A Cross-Country Empirical Analysis Of International Reserves, Yin-Wong Cheung, Hiro Ito May 2009

A Cross-Country Empirical Analysis Of International Reserves, Yin-Wong Cheung, Hiro Ito

Economics Faculty Publications and Presentations

Using data from more than 100 economies for the period of 1975 to 2005, we conduct an extensive empirical analysis of the determinants of international reserve holdings. Four groups of determinants, namely, traditional macro variables, financial variables, institutional variables, and dummy variables that control for individual economiesā€™ characteristics are considered. We find that the relationship between international reserves and their determinants is significantly different between developed and developing economies and is not stable over time. The estimation results indicate that, especially during the recent period, a developed economy tends to hold a lower level of international reserves than a developing ...


Far-Flung Europe: What Is The Economic Impact Of Geography?, John Luke Gallup Mar 2008

Far-Flung Europe: What Is The Economic Impact Of Geography?, John Luke Gallup

Economics Faculty Publications and Presentations

Several Western European countries have integral territory thousands of miles from continental Europe. The economic performance in these "outermost" regions tests the impact of geographical isolation in a high income, institutionally uniform setting quite different from the geographical challenges of poor, agriculturally dependent developing countries. The European regional data used have different starting years by country. This required the derivation of a new non-linear estimation model for cross-regional growth. The outermost regions converge to national income levels of continental Europe at least as fast as other poor continental regions, showing no special impact of geography on economic growth. Looking at ...


The Impact Of The Multinational Corporations On Leading Issues And Policy Making In Less Developed Countries : (A Case Study On Kenya), Wamukota Francis W. Wambalaba Jan 1985

The Impact Of The Multinational Corporations On Leading Issues And Policy Making In Less Developed Countries : (A Case Study On Kenya), Wamukota Francis W. Wambalaba

Dissertations and Theses

The era of Multinational Corporations (MNCs) is so significant in the development of the Less Developed Countries (LDCs) as was the era of the Industrial Revolution in the development of the now More Developed countries (MDCs). It could be referred to as one of the major economic frontiers in the LDCs as is the computer frontier in the MDCs now. Naturally therefore, there are problems of distrust, fear of eventual crisis, uncertainty of the correct path and a pain in policy making. Coupled with the North/South delicate relationship, the MNC's (which mostly comes from the North) acceptability in ...