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We analyze how uncertainty about when information about future returns to a project may be revealed affects investment. While "good news" about future returns boosts investment, "goodnews about news" ...
This paper develops a spatial dynamic model to assess the total-factor-productivity (TFP) effects of externalities generated by foreign direct investment (FDI). The model is capable of disentangling T...
Continuous elimination of the acreage of orchards in Slovakia has a negative impact on the overall fruit production. Improvement of the conditions could be achieved by introducing new technological sy...
India's economic reforms in 1991 permitted investors to freely choose their preferred investment locations across the various states in the Indian union, leading to competition between states to at...
We study the problem of optimal portfolio selection in an illiquid market with discrete order flow. In this market, bids and offers are not available at any time but trading occurs more frequently nea...
In this age of globalization, the FTA is flourishing in numbers. It is no exaggeration “the FTAs are covering the whole globe”. However, it has some defects that it is far from an ideal means of globa...
We characterize optimal taxation of foreign capital and optimal sovereign debt policy in a small open economy where the government cannot commit to policy, seeks to insure a risk-averse domestic const...
This paper investigates how China’s saving, investment, and the saving-investment balance will evolve in the decades ahead. Household saving in China is relatively high, compared to OECD countries. Ho...
We use the theory of large deviations to study the pricing of investment-grade tranches of synthetic CDO's. In this paper, we consider a heterogeneous pool of names. Our main tool is a large-deviation...
This paper investigates the relationship between private and public investment in R&D, while taking into account the effect of several instruments policies such as subsidies and taxes.
In the following piece we outline some of the major challenges facing the gas sector in Russia and focus on where some of the potential upsides are to be found. While we remain concerned about the ove...
26 March 2007,BEIJING - About 40 securities regulators from around Asia and the Pacific are gathering here to share knowledge about collective investment schemes and hedge funds.Many financial markets...
In placing capital market imperfections at the center of emerging market crises, the theoretical literature has associated a liquidity crisis with low foreign investment and the exit of investors from...

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