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Foreign Direct Investment and Democracy: A Robust Fixed Effects Approach to a Complex Relationship 外国直接投资与民主:对复杂关系的稳健固定效应分析
Wiley-Blackwell: Pacific Economic Review Pub Date : 2017-02-01 DOI: 10.1111/1468-0106.12204
Rodolphe Desbordes, Vincenzo Verardi
{"title":"Foreign Direct Investment and Democracy: A Robust Fixed Effects Approach to a Complex Relationship","authors":"Rodolphe Desbordes, Vincenzo Verardi","doi":"10.1111/1468-0106.12204","DOIUrl":"https://doi.org/10.1111/1468-0106.12204","url":null,"abstract":"We develop a new robust-to-outliers dummy estimator that we subsequently apply to investigate the impact of various democratic attributes on foreign direct investment in recent years. We find that democracy has generally a positive impact on foreign direct investment, once outliers are controlled for, but that this relationship is very specific to each host country's characteristics.","PeriodicalId":134313,"journal":{"name":"Wiley-Blackwell: Pacific Economic Review","volume":"113 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115581266","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}
引用次数: 8
Interprovincial Competitiveness and Economic Growth: Evidence from Chinese Provincial Data (1992–2008) 省际竞争力与经济增长:来自中国省际数据的证据(1992-2008)
Wiley-Blackwell: Pacific Economic Review Pub Date : 2015-08-01 DOI: 10.1111/1468-0106.12114
Jinzhao Chen
{"title":"Interprovincial Competitiveness and Economic Growth: Evidence from Chinese Provincial Data (1992–2008)","authors":"Jinzhao Chen","doi":"10.1111/1468-0106.12114","DOIUrl":"https://doi.org/10.1111/1468-0106.12114","url":null,"abstract":"This paper assesses the role of the internal real exchange rate as a competitiveness indicator in economic growth among provinces in China. Using data from 28 Chinese provinces for the period 1992–2008 together with dynamic panel data estimation, the results reveal a positive effect of real exchange rate appreciation on economic growth. In other words, a competitive internal real exchange rate has not been found to support provincial economic growth.","PeriodicalId":134313,"journal":{"name":"Wiley-Blackwell: Pacific Economic Review","volume":"20 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122341261","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}
引用次数: 1
Sources of Business Cycles in a Low Income Country 一个低收入国家经济周期的来源
Wiley-Blackwell: Pacific Economic Review Pub Date : 2015-02-01 DOI: 10.1111/1468-0106.12097
Romain Houssa, Jolan Mohimont, Christopher Otrok
{"title":"Sources of Business Cycles in a Low Income Country","authors":"Romain Houssa, Jolan Mohimont, Christopher Otrok","doi":"10.1111/1468-0106.12097","DOIUrl":"https://doi.org/10.1111/1468-0106.12097","url":null,"abstract":"We examine the role of global and domestic shocks in driving macroeconomic fluctuations for Ghana. We are able to study the impact of exogenous shocks including productivity, credit supply, and commodity price shocks. We identify the shocks with a combination of sign and recursive restrictions within Bayesian VAR models. As a benchmark we provide results for South Africa to document the difference between two economies with similar structures but different levels of development. We find that global shocks play a more dominant role in South Africa than in Ghana. These shocks operate through three channels: trade, credit and commodity prices.","PeriodicalId":134313,"journal":{"name":"Wiley-Blackwell: Pacific Economic Review","volume":"57 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114065364","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}
引用次数: 14
Effect of Short‐Sale Constraints on Stock Price Manipulation 卖空约束对股价操纵的影响
Wiley-Blackwell: Pacific Economic Review Pub Date : 2013-05-01 DOI: 10.1111/1468-0106.12020
Junfeng Qiu, Yongli Zhang
{"title":"Effect of Short‐Sale Constraints on Stock Price Manipulation","authors":"Junfeng Qiu, Yongli Zhang","doi":"10.1111/1468-0106.12020","DOIUrl":"https://doi.org/10.1111/1468-0106.12020","url":null,"abstract":"This paper examines the effect of short‐sale constraints on the stock price manipulation of an insider, who is subject to mandatory disclosure rules. We show that the privately informed insider may manipulate by trading against his or her information when short selling is banned. We find that stock price movement is asymmetric in the sense that prices fall by a larger percentage than they rise. In addition, we prove that removing short‐sale constraints increases price volatility. Finally, we explore the welfare implications of short‐sale constraints.","PeriodicalId":134313,"journal":{"name":"Wiley-Blackwell: Pacific Economic Review","volume":"171 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124153797","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}
引用次数: 2
Income Heterogeneity in the Voluntary Provision of Dynamic Public Goods 动态公共物品自愿供给中的收入异质性
Wiley-Blackwell: Pacific Economic Review Pub Date : 2012-12-01 DOI: 10.1111/1468-0106.12006
M. C. Güran
{"title":"Income Heterogeneity in the Voluntary Provision of Dynamic Public Goods","authors":"M. C. Güran","doi":"10.1111/1468-0106.12006","DOIUrl":"https://doi.org/10.1111/1468-0106.12006","url":null,"abstract":"This paper explores the effect of income inequality on the voluntary contributions to a dynamic public good. We find that income heterogeneity has a significant impact both on contributions and welfare. The results show that the often observed decay of cooperation does not carry over to the asymmetric environment considered in this study. Our results also suggest that subjects in each income class make different contribution amounts in an absolute sense and give the same percentage of their income. Moreover, we find that contributions of individuals with the same endowment are sensitive to how heterogeneous the environment is.","PeriodicalId":134313,"journal":{"name":"Wiley-Blackwell: Pacific Economic Review","volume":"44 4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126312780","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}
引用次数: 7
Performance of Various Estimators for Censored Response Models with Endogenous Regressors 含内生回归量的截尾响应模型的各种估计器的性能
Wiley-Blackwell: Pacific Economic Review Pub Date : 2010-09-27 DOI: 10.1111/j.1468-0106.2009.00463.x
Changhui Kang, Myoung-jae Lee
{"title":"Performance of Various Estimators for Censored Response Models with Endogenous Regressors","authors":"Changhui Kang, Myoung-jae Lee","doi":"10.1111/j.1468-0106.2009.00463.x","DOIUrl":"https://doi.org/10.1111/j.1468-0106.2009.00463.x","url":null,"abstract":"The paper reviews four approaches (substitution (SUB), control function (CF), system reduced form (SRF) and artificial instrumental regressor (AIR)) dealing with endogenous regressors in censored response models, and compares them through a simulation. Based on mean-squared-error type criteria, CF and AIR perform better than SUB and SRF; in terms of computation, however, SUB and CF are the easiest, closely followed by SRF. Although CF does well in both accounts, its assumptions are restrictive, and CF provides very different results from the other estimators when a real data set is used. Therefore, although the choice of an estimator among the four should be case-specific, for practitioners, we would recommend SUB.","PeriodicalId":134313,"journal":{"name":"Wiley-Blackwell: Pacific Economic Review","volume":"13 5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-09-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121997023","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}
引用次数: 8
Labour Market Activity of Foreign Spouses in Taiwan: Employment Status and Choice of Employment Sector 外籍配偶在台劳动市场活动:就业状况与行业选择
Wiley-Blackwell: Pacific Economic Review Pub Date : 2010-09-27 DOI: 10.1111/j.1468-0106.2009.00461.x
H. Chuang, Ning Hsieh, Eric S. Lin
{"title":"Labour Market Activity of Foreign Spouses in Taiwan: Employment Status and Choice of Employment Sector","authors":"H. Chuang, Ning Hsieh, Eric S. Lin","doi":"10.1111/j.1468-0106.2009.00461.x","DOIUrl":"https://doi.org/10.1111/j.1468-0106.2009.00461.x","url":null,"abstract":"The present study examines the employment status and choice of employment sector of female foreign spouses from Southeast Asia and Mainland China in Taiwan. The conceptual framework is based on the family labour supply model, human and social capital theory, and immigrant assimilation theory. Our findings indicate that in regard to employment status, family background variables, including the presence of small children and husbands' characteristics, play a more significant role in determining the employment probability for these foreign spouses than do human capital variables. In particular, for spouses from Southeast Asia, each additional child is correlated with a decrease in working probability of 11.3%, whereas college education has an insignificant effect on their employment probability. Employment assimilation for these marriage immigrants may be confirmed by the finding that the employment probability of foreign spouses rises rapidly with the number of years that have elapsed since migration. As for the choice of employment sector, a strong linkage between the employment sector of the foreign spouses and their husbands' employment sector is found in this study.","PeriodicalId":134313,"journal":{"name":"Wiley-Blackwell: Pacific Economic Review","volume":"60 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-09-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124560212","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}
引用次数: 12
Economies of Scope for Microfinance: Differences Across Output Measures 小额信贷的范围经济:不同产出措施的差异
Wiley-Blackwell: Pacific Economic Review Pub Date : 2010-09-27 DOI: 10.1111/j.1468-0106.2010.00516.x
Valentina Hartarska, Christopher F. Parmeter, Denis Nadolnyak, B. Zhu
{"title":"Economies of Scope for Microfinance: Differences Across Output Measures","authors":"Valentina Hartarska, Christopher F. Parmeter, Denis Nadolnyak, B. Zhu","doi":"10.1111/j.1468-0106.2010.00516.x","DOIUrl":"https://doi.org/10.1111/j.1468-0106.2010.00516.x","url":null,"abstract":"In banking, scope economies of mobilizing deposits and lending are often estimated, while consideration of the same measures for microfinance institutions (MFI) is still in its infancy. An open issue remains regarding what characterizes an output of an MFI. Moreover, depending on the output used, do estimated scope economies differ? We use a novel data set for over 800 MFI across more than 70 countries to estimate economies of scope. Our findings suggest that statistical differences arise between estimates of scope economies. However, our qualitative findings indicate that both of these measures provide similar overviews of the landscape of scope economies for MFI.","PeriodicalId":134313,"journal":{"name":"Wiley-Blackwell: Pacific Economic Review","volume":"45-46 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-09-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114507686","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}
引用次数: 29
Testing for Asset Market Linkages: A New Approach Based on Time-Varying Copulas 资产市场关联性检验:一种基于时变copula的新方法
Wiley-Blackwell: Pacific Economic Review Pub Date : 2010-07-16 DOI: 10.1111/j.1468-0106.2010.00508.x
H. Manner, B. Candelon
{"title":"Testing for Asset Market Linkages: A New Approach Based on Time-Varying Copulas","authors":"H. Manner, B. Candelon","doi":"10.1111/j.1468-0106.2010.00508.x","DOIUrl":"https://doi.org/10.1111/j.1468-0106.2010.00508.x","url":null,"abstract":"This paper proposes a new approach based on time-varying copulas to test for the presence of increases in stock market interdependence (also known as shift contagion) after a financial crisis. We discuss the importance of considering simultaneously separate breaks in volatility and dependence. Without such consideration, the contagion test turns out to be biased. A sequential algorithm is proposed to tackle this problem. Applied to the recent 1997 Asian crisis, the analysis confirms that breaks in variances always precede those in the dependence parameter. Moreover, a significant ‘J-shape’ evolution of the dependence parameter is detected, supporting the idea of shift contagion.","PeriodicalId":134313,"journal":{"name":"Wiley-Blackwell: Pacific Economic Review","volume":"81 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-07-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132039958","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}
引用次数: 33
Global Economic Integration 全球经济一体化
Wiley-Blackwell: Pacific Economic Review Pub Date : 2010-02-01 DOI: 10.1111/j.1468-0106.2009.00491.x
P. Lloyd
{"title":"Global Economic Integration","authors":"P. Lloyd","doi":"10.1111/j.1468-0106.2009.00491.x","DOIUrl":"https://doi.org/10.1111/j.1468-0106.2009.00491.x","url":null,"abstract":"While the notion of global economic integration is hardly new, it is, regrettably, a rather vague notion. This paper seeks to outline what is meant by the concept of global economic integration, what benefits it may bring, and how it is coming about in terms of the modalities being used in multilateral organizations and international agreements, regional agreements and in unilateral national actions.","PeriodicalId":134313,"journal":{"name":"Wiley-Blackwell: Pacific Economic Review","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2010-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133036935","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}
引用次数: 17
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