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作者：Liu, Zhiqiang
作者单位：State University of New York (SUNY) System; University at Buffalo, SUNY
摘要：Within the endogenous growth framework, we offer an explanation on how foreign direct investment (FDI) generates externalities in the form of technology transfer. We distinguish between the level and rate effects of spillovers on the productivity of domestic firms. A new insight gained trom the theory is that the level and rate effects of spillovers can go in opposite directions. The negative level effect underscores the fact that technology transfer is a costly process-scarce resources must b...
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作者：Madajewicz, Malgosia; Pfaff, Alexander; van Geen, Alexander; Graziano, Joseph; Hussein, Iftikhar; Momotaj, Hasina; Sylvi, Roksana; Ahsan, Habibul
作者单位：Columbia University
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作者：Andrianova, Svetlana; Demetriades, Panicos; Shortland, Anja
作者单位：University of Leicester; Brunel University
摘要：Using a suitably modified locational model of banking, we examine the influence of institutions, such as deposit contract enforcement, in explaining the share of government owned banks in the banking system. We present cross-country evidence suggesting that institutional factors are relatively more important determinants of the share of state banks than political or historical ones. We argue that rather than privatizing or subsidizing state banks governments in developing countries should buil...
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作者：Goncalves, Carlos Eduardo S.; Salles, Joao M.
作者单位：Universidade de Sao Paulo; Columbia University
摘要：In a recent thought-provoking paper, Ball and Sheridan [Ball, L., Sheridan, N., 2005. Does inflation targeting matter? In: Bernanke, B.S., Woodford, M. (Eds.), The Inflation-Targeting Debate, University of Chicago Press] show that the available evidence for a group of developed economies does not lend credence to the belief that adopting an inflation targeting regime (IT) was instrumental in bringing inflation and inflation volatility down. Here, we extend Ball and Sheridan's analysis for a su...
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作者：Houssa, Romain
作者单位：KU Leuven
摘要：This paper analyzes the economic costs of a monetary union in West Africa by looking at the fluctuations of aggregate demand and aggregate supply shocks across countries. Previous studies have estimated shocks with Vector Auto-Regressive (VAR) models. This paper discusses the limitations of VAR models and applies a new technique based on dynamic factor models. The results show negative and low positive correlations among supply shocks of West African countries, indicating that these countries ...
