Country-specific and time-specific factors in the demand for international reserves

1980 ◽  
Vol 5 (1) ◽  
pp. 75-80 ◽  
Author(s):  
Jacob A. Frenkel ◽  
Craig S. Hakkio
Keyword(s):  
International Reserves ◽  
Specific Factors ◽  
Time Specific ◽  
Country Specific

Grain Policies and Storage in Southern Germany: The Regensburg Hospital (17th-19th Centuries)

2018 ◽  
Vol 59 (2) ◽  
pp. 415-445
Author(s):  
Kathrin Pindl
Keyword(s):  
Early Modern ◽  
18Th Century ◽  
Early Modern Period ◽  
Analytical Scheme ◽  
Economic Decisions ◽  
Modern Period ◽  
Specific Factors ◽  
Time Specific ◽  
Time Invariant ◽  
And Storage

Abstract This paper is concerned with the storage policy of the citizens’ hospital of Regensburg in the Early Modern period (focus: 18th century). The main purpose consists of (1) a source-based micro-study that helps to derive insights into the mechanisms of how experiences and expectations have influenced decisions by a pre-modern institution, (2) an analytical scheme for describing and evaluating the process of decision-making based on narrative evidence, and (3) the suggestion of analytical categories. These should allow a differentiation between time-invariant human behaviour that determines economic decisions, and time-specific factors which can be used to separate possibly “pre-modern” patterns from seemingly modern-day capitalist economic performance.

International Business Cycles: World, Region, and Country-Specific Factors

2003 ◽  
Vol 93 (4) ◽  
pp. 1216-1239 ◽  
Author(s):  
M. Ayhan Kose ◽  
Christopher Otrok ◽  
Charles H Whiteman
Keyword(s):  
Business Cycle ◽  
Factor Model ◽  
Dynamic Properties ◽  
International Business Cycles ◽  
Minor Role ◽  
World Region ◽  
The World ◽  
Specific Factors ◽  
A Minor ◽  
Country Specific

The paper investigates the common dynamic properties of business-cycle fluctuations across countries, regions, and the world. We employ a Bayesian dynamic latent factor model to estimate common components in macroeconomic aggregates (output, consumption, and investment) in a 60-country sample covering seven regions of the world. The results indicate that a common world factor is an important source of volatility for aggregates in most countries, providing evidence for a world business cycle. We find that region-specific factors play only a minor role in explaining fluctuations in economic activity. We also document similarities and differences across regions, countries, and aggregates.

scholarly journals HOW IMPORTANT IS INNOVATION? A BAYESIAN FACTOR-AUGMENTED PRODUCTIVITY MODEL BASED ON PANEL DATA

2016 ◽  
Vol 20 (8) ◽  
pp. 1987-2009 ◽  
Author(s):  
Georges Bresson ◽  
Jean-Michel Etienne ◽  
Pierre Mohnen
Keyword(s):  
Common Factors ◽  
Gdp Per Capita ◽  
Factor Productivity ◽  
Technology Infrastructure ◽  
Cross Sectional ◽  
Cross Sectional Dimension ◽  
Specific Factors ◽  
Per Capita ◽  
Bayesian Factor ◽  
Time Specific

This paper proposes a Bayesian approach to estimating a factor-augmented GDP per capita equation. We exploit the panel dimension of our data and distinguish between individual-specific and time-specific factors. On the basis of 21 technology, infrastructure, and institutional indicators from 82 countries over a 19-year period (1990 to 2008), we construct summary indicators of each of these three components in the cross-sectional dimension and an overall indicator of all 21 indicators in the time-series dimension and estimate their effects on growth and international differences in GDP per capita. For most countries, more than 50% of GDP per capita is explained by the four common factors we have introduced. Infrastructure is the greatest contributor to total factor productivity, followed by technology and institutions.

scholarly journals International Evidence on the Determinants of Domestic Sovereign Debt Bank Holdings

2019 ◽  
Vol 58 (2-3) ◽  
pp. 143-160
Author(s):  
Dimitris K. Chronopoulos ◽  
George Dotsis ◽  
Nikolaos T. Milonas
Keyword(s):  
Sovereign Debt ◽  
Home Bias ◽  
Government Ownership ◽  
Government Bonds ◽  
Bank Ownership ◽  
Specific Factors ◽  
Quality Of Governance ◽  
Domestic Banks ◽  
Country Specific

Abstract In this paper, we examine the determinants of bank holdings of domestic sovereign debt with a panel dataset of 295 banks in 35 countries between 2002 and 2013. The findings indicate that the structure of bank ownership (domestic, foreign, or government ownership), the quality of governance, and the level of financial development of the countries in which banks operate all determine the level of home bias. Specifically, we find that domestic banks tend to hold more domestic sovereign debt relative to their foreign counterparts. We also provide evidence that home bias is even stronger when the domestic bank is controlled by its government. Moreover, home bias increases when government bonds are more risky, home governments are less effective, and when banking systems are less financially developed. Overall, we find that banks’ home bias in holding sovereign debt is an international phenomenon that is determined by both bank- and country-specific factors.

scholarly journals Common and country specific factors in the distribution of real wages

2019 ◽  
Vol 184 ◽  
pp. 108582
Author(s):  
Eleni Chatzivgeri ◽  
Haroon Mumtaz ◽  
Daniela Tavasci ◽  
Luigi Ventimiglia
Keyword(s):  
Real Wages ◽  
Specific Factors ◽  
Country Specific

Country-specific determinants of FDI inflows to the MENA region

2019 ◽  
Vol 28 (1) ◽  
pp. 1-38 ◽  
Author(s):  
Anna Dimitrova ◽  
Tim Rogmans ◽  
Dora Triki
Keyword(s):  
Empirical Literature ◽  
Future Research ◽  
Mena Region ◽  
Fdi Inflows ◽  
Content Type ◽  
Mena Countries ◽  
Resource Endowment ◽  
Specific Factors ◽  
Fdi Determinants ◽  
Country Specific

Purpose This paper aims to synthesize, analyze and categorize the empirical literature on country-specific factors that affect foreign direct investment (FDI) inflows to the Middle East and North Africa (MENA) region. Identifying gaps and methodological challenges in the reviewed articles, recommendations are made to guide future research. Design/methodology/approach Applying the systematic review methodology, content analysis is conducted of 42 relevant empirical studies that explore country-specific FDI determinants in the MENA region during the period 1998–2018. Findings This review study identifies four main research gaps in the extant literature: a lack of consensus on a common definition of the MENA region and a weak understanding of the specificities of its investment environment; a limited set of FDI theories used and a lack of other theoretical perspectives; a recurrent focus on the direct relationship between host country–specific determinants and FDI, thus ignoring the moderating and mediating effects of some variables; and the absence of certain country-specific factors pertaining to the MENA countries. Originality/value This study contributes to the international business field by enhancing our understanding of the FDI determinants in emerging and developing markets, especially the MENA countries. It develops a typology of FDI country-specific factors in the MENA region based on four main categories: macroeconomic and financial, institutional and regulatory, natural resource endowment and socio-cultural. Paths for future research are suggested.

Influence of Double Taxation Avoidance Agreements on FDI: A Critical Review

2015 ◽  
Vol 2 (1) ◽  
Author(s):  
Neyati Ahuja
Keyword(s):  
Critical Review ◽  
Investment Decisions ◽  
Review Of Literature ◽  
Tax Treaties ◽  
Double Taxation ◽  
The Past ◽  
Specific Factors ◽  
Country Specific

In the past few decades, the prime considerations for FDI like degree of openness are becoming more or less same for all economies. It is the policy factors like taxation which have now become significant for investment decisions. In this respect one of the major issues is double taxation. This paper attempts to cover various aspects in relation to double taxation including tax treaties, unilateral and bilateral relief and above all the benefits and cost associated with signing a tax treaty. The review of literature conducted in respect of developed, developing and OECD nations highlights few important aspects in the context of Double Taxation Avoidance Treaties: age of treaty, treaty renegotiation, influence of regional peers and the country specific factors like income. This paper also discusses the case of India-Mauritius tax treaty which has been a debatable issue for long.

Organizational Design and Firm Performance

2013 ◽  
pp. 372-396 ◽  
Author(s):  
Massimo G. Colombo ◽  
Marco Delmastro ◽  
Larissa Rabbiosi
Keyword(s):  
Firm Performance ◽  
Organizational Design ◽  
Theoretical Work ◽  
Empirical Literature ◽  
Future Research ◽  
Critical Survey ◽  
Specific Factors ◽  
Quantitative Indicators ◽  
Country Specific ◽  
Open Issues

This chapter provides a critical survey of the stream of studies that have examined the effect of organizational design decisions on firm performance. The focus is on selected organizational design dimensions that can be measured using quantitative indicators, notably i) organizationalconfiguration, ii) allocation of decision-making authority, and iii) adoption offormal organizational practices. The aim is to highlight ‘stylized facts’ supported by robust quantitative empirical findings, and to link them to insights provided by theoretical work. Moreover, we consider firm-, industry-, and country-specific factors that moderate the organizational design-firm performance relation. In reviewing this emergent and still quite fragmented empirical literature, we also take the opportunity to present open issues, and to indicate avenues for future research.

Blaming slower GDP on trade risks missing other perils

2018 ◽  
Keyword(s):  
Emerging Markets ◽  
Financial Stability ◽  
Policy Uncertainty ◽  
Content Type ◽  
The Past ◽  
Growth Prospects ◽  
Specific Factors ◽  
Contagion Risk ◽  
Global Growth ◽  
Country Specific

Significance Some of the downside risks the April WEO highlighted have materialised, while the FSR sees higher risks to financial stability. The explanations prioritise trade but many other common and country-specific factors also constrain growth prospects. Impacts Emerging markets (EMs) with firm fundamentals have lower contagion risk than in the past, but growth will increasingly diverge across EMs. New trade tariffs are more likely to contribute to sustained slower global growth than to trigger a recession. Goods trade is a small share of Chinese and US GDP but US policy uncertainty will hit investment worldwide, damaging productivity efforts.

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