{"title":"The Role of Information in Driving FDI Flows: Host-Country Tranparency and Source Country Specialization","authors":"A. Mody, A. Razin, E. Sadka","doi":"10.3386/W9662","DOIUrl":"https://doi.org/10.3386/W9662","url":null,"abstract":"We develop a simple information-based model of FDI flows. On the one hand, the abundance of intangible' capital in specialized industries in the source countries, which presumably generates expertise in screening investment projects in the host countries, enhances FDI flows. On the other hand, host-country corporate-transparency diminishes the value of this expertise thereby reducing the flow of FDI. Empirical evidence (from a sample of 12 source countries and 45 host countries over the 1980s and 1990s) analyzed in a gravity-equation model, provides support to the theoretical hypotheses. The model also demonstrates that the gains for the host country from foreign direct investment [over foreign portfolio investment (FPI)] are reflected in a more efficient size of the stock of domestic capital and its allocation across firms. These gains are shown to depend crucially (and positively) on the degree of competition among FDI investors.","PeriodicalId":118874,"journal":{"name":"SRPN: Other Socially Responsible Investment (Topic)","volume":"38 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2003-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132284737","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Economic Perspectives on Terrorism Insurance","authors":"D. Miller","doi":"10.2139/SSRN.650181","DOIUrl":"https://doi.org/10.2139/SSRN.650181","url":null,"abstract":"This study examines the market for terrorism insurance in the United States, discusses the economic implications of the cost and availability of terrorism insurance and considers the proposed federal role in terrorism insurance. The study reaches two principal findings. First, the market for terrorism insurance remains limited. Only a small number of insurers are actively providing stand-alone terrorism insurance policies. When available, coverage for terrorism losses is expensive, terms of coverage are restrictive and policy limits are often insufficient. Second, the problems associated with terrorism insurance pose a significant threat to sustained economic growth. The lack of terrorism insurance is stopping some business deals, such as real estate and construction projects where terrorism insurance may be necessary to obtain financing. The high cost of terrorism insurance (when available) diverts resources from other more productive uses, negatively affecting investment and jobs. Low coverage limits in terrorism insurance policies mean that businesses are bearing a huge amount of risk themselves. In the event of another attack similar to that of September 11th, insurance payments will not be available to the same degree to rebuild.","PeriodicalId":118874,"journal":{"name":"SRPN: Other Socially Responsible Investment (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2002-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122728091","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Sustainability, Premia, and the Dollar","authors":"B. Chadha, Steven A. Symansky","doi":"10.2139/ssrn.885011","DOIUrl":"https://doi.org/10.2139/ssrn.885011","url":null,"abstract":"This paper models the effects of foreign investors imposing a limit on the proportion of U.S. liabilities they are prepared to hold in their portfolios. Simulations show that actual premiums required on dollar assets implied by such a limit will be small. Nevertheless, such small premiums can play a quantitatively important role in preventing large buildups of claims on the United States. Moreover, the costs of such an imposed adjustment can be substantial in terms of private consumption, investment and output in the United States.","PeriodicalId":118874,"journal":{"name":"SRPN: Other Socially Responsible Investment (Topic)","volume":"40 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1990-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133441931","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"From Disclosure to Action: The First Annual Report of the Portfolio Decarbonization Coalition","authors":"Rory Sullivan, L. Petrovic, R. Fischer","doi":"10.2139/SSRN.2724876","DOIUrl":"https://doi.org/10.2139/SSRN.2724876","url":null,"abstract":"The Portfolio Decarbonization Coalition (PDC) was co-founded in 2014 by the United Nations Environment Programme (UNEP), the UNEP Finance Initiative (UNEP FI), AP4, Amundi and CDP. PDC’s aim is to drive greenhouse gas emission reductions by mobilising a critical mass of institutional investors committed to gradually decarbonizing their portfolios.This report – the first progress report published by the PDC – demonstrates that investors can decarbonize their portfolios without harming investment performance. Furthermore, in the report, PDC members report that their decarbonization activities have resulted in them reducing their carbon emissions, reducing their exposures to fossil fuels and increasing their investments in low carbon technologies and industries of the future. The report argues that there is much to be done if decarbonization strategies are to be more widely adopted. Priority areas for action include: the development of investment products and investment solutions that enable investors to decarbonize their portfolios without compromising investment performance; the strengthening of corporate and investor reporting; the development of portfolio-level metrics that enable investors to track progress towards their decarbonization objectives; the development of a better understanding of the contribution that portfolio decarbonization can make to the goal of a low carbon economy and the timeframes over which this contribution can be made.","PeriodicalId":118874,"journal":{"name":"SRPN: Other Socially Responsible Investment (Topic)","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123912376","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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