作者：Fuentes, Miguel; Saravia, Diego
作者单位：Central Bank of Chile
摘要：We empirically study whether countries that default on their debt experience a reduction in their capital inflows, as suggested by the literature. Our data contain information on (i) the defaulter countries and their creditors and (ii) bilateral foreign direct investment (FDI) flows. With these we can study how FDI flows are affected by sovereign default by distinguishing between those flows coming from defaulters' creditor countries and others. According to our estimations, this distinction i...
作者：Fleisher, Belton; Li, Haizheng; Zhao, Min Qiang
作者单位：University System of Ohio; Ohio State University; Central University of Finance & Economics; University System of Georgia; Georgia Institute of Technology
摘要：We show how regional growth patterns in China depend on regional differences in physical, human, and infrastructure capital as well as on differences in foreign direct investment (FDI) flows. We also evaluate the impact of market reforms, especially the reforms that followed Deng Xiaoping's South Trip in 1992 those that resulted from serious hardening of budget constraints of state enterprises around 1997. We find that FDI had a much larger effect on TIP growth before 1994 than after, and we a...
