It is empirically well established that multinationals raise productivity levels of their local suppliers in their host countries. Firm-level data show that productivity of upstream industries is the higher the higher the importance of multinationals in downstream industries is (e.g. Javorcik 2004, Barrios et al. 2011).
Multinationals assist domestic suppliers? Perhaps think again
Olivier N. Godart, Holger Görg, Christiane Krieger-Boden, 29 April 2013
Beggar-thy-neighbours? Spillover effects of exchange rates
Aaditya Mattoo, Arvind Subramanian, Prachi Mishra, 23 March 2012
Nearly all of the empirical research on exchange rates is focused on the impact of their changes on the country experiencing or undertaking them. This is true of the older, voluminous literature on the trade consequences of exchange rates (surveyed in Goldstein and Khan 1985), as well as more recent contributions like Rodrik (2008) and Berman et al. (2012).
Clustering together abroad: South Korean multinationals in China
Peter Debaere, Joon H. Lee , Myungho Paik, 3 June 2009
Foreign direct investment has played a prominent role in the current wave of globalisation. The World Investment Report (UNCTAD, 2008) notes that total worldwide FDI flows in 2007 amounted to 1.8 trillion dollars. More than 25% of these flows were to developing economies.
Economic spillovers from international environmental cooperation
Andrew K Rose, Mark M. Spiegel, 2 July 2008
Successful international environmental agreements (IEAs) must meet two important criteria:1 (1) Countries must sign up voluntarily, and (2) the agreements must be self-enforcing, in the sense that members of an IEA must have the capacity and the willingness to respond to deviations by an individual or group of countries from the rules of the treaty.
The lifecycle of regions
David B Audretsch, Oliver Falck, Maryann P. Feldman, Stephan Heblich, 29 April 2008
The European Union spends a substantial fraction of its budget on regional policy with the goal of reducing inequality, particularly for those European regions hardest hit by unemployment and structural change. Designing regional policy, however, is not a simple matter.
The changing housing cycle and its implications for monetary policy
Tommaso Monacelli, Roberto Cardarelli, Alessandro Rebucci, Luca Sala, 26 April 2008
After several years of rapid price increases, house price growth has decelerated in many advanced economies, and in a few of them – the United Stated and Ireland – house prices have fallen during the past year (Figure 1).
Lessons from the 2007 Financial Crisis
Willem Buiter, 19 December 2007
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- The ECB’s stealth bailoutSinn
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
Adelman, 28 October 2013
Reichlin, Giugliano, 7 November 2013
Holmes, McGrattan, Prescott
Beck, De Haas, Ongena