The Relation between Trade and FDI in Developing Countries -- A Panel Data Approach

2007 ◽  
Vol 7 (3) ◽  
pp. 1850114 ◽  
Author(s):  
Indradeep Ghosh
Keyword(s):  
Panel Data ◽  
Trade Liberalization ◽  
Fixed Effects ◽  
Explanatory Power ◽  
Trade Openness ◽  
The Other ◽  
Bilateral Investment Treaties ◽  
Right Hand ◽  
Investment Treaties ◽  
The Right

Using panel data for the period 1970-97, I examine the relation between a developing country's trade openness and the stock of its FDI liabilities. The paper makes two contributions. First, I find that trade openness is positively correlated with FDI liabilities, with or without country fixed effects. Moreover, this correlation remains robust to the inclusion of additional variables on the right hand side, such as GDP per capita, inflation, institutional quality, macroeconomic volatility and measures of capital controls. Secondly, I show that the source of this correlation is causality from FDI to trade openness, rather than the other way around. To establish this, I run IV regressions first with FDI as the dependent variable, and trade liberalization dates instrumenting for trade openness, and then with trade openness as the dependent variable, and bilateral investment treaties signed by countries instrumenting for FDI. I find that trade liberalization increases trade openness, but predicted trade openness has no explanatory power for FDI liabilities. On the other hand, the number of bilateral investment treaties signed by a country significantly increases its stock of FDI liabilities, and the predicted stock of FDI liabilities has significant explanatory power for trade openness. This is an important finding because the standard approach so far in the literature has been to include trade openness on the right hand side of regressions (with the left hand side involving some measure of FDI liabilities), thereby implicitly assigning to it a causal role. My paper shows that this practice introduces endogeneity bias in the regression coefficients.

scholarly journals Do Bilateral Investment Treaties Promote FDI Inflows? Evidence from India

2016 ◽  
Vol 41 (4) ◽  
pp. 275-287 ◽  
Author(s):  
Niti Bhasin ◽  
Rinku Manocha
Keyword(s):  
Panel Data ◽  
Fixed Effects ◽  
Generalized Method Of Moments ◽  
Political Stability ◽  
Special Focus ◽  
Bilateral Investment Treaties ◽  
Policy Objective ◽  
Fdi Inflows ◽  
Investment Treaties

Executive Summary In view of the catalytic role of foreign direct investment (FDI) in promoting economic development, countries adopt various unilateral as well as bilateral arrangements to create a conducive environment for FDI. One such significant form of arrangement is bilateral investment treaties (BITs). As sizeable cost and resources are involved in treaty formation, it becomes important to examine the potential benefits of BITs for investment and whether such measures actually translate into higher FDI flows. This article employs panel data regression on an augmented gravity model (under both static and dynamic conditions) to identify the determinants of FDI inflows into India with a special focus on the role of BITs. The panel data span over the period 2001–2012 and include the top investing countries in India accounting for around 92 per cent of India’s total FDI inflows. The explanatory variables employed are extended market size, vertical FDI drive, distance, colonial links, common language, political stability, financial openness, and population growth rate. BIT is incorporated as a dummy variable which takes the value 1 if a BIT exists between India and the investing countries in a given year, otherwise 0. The results for both the fixed effects and the two-step generalized method of moments (GMM) model specifications confirm the positive role of BITs in attracting FDI inflows into India. BITs have contributed to rising FDI inflows by providing protection and commitment to foreign investors contemplating investment in India. The model also finds support for other factors facilitating FDI such as the large size of the economy and a more liberal FDI regime. As attracting FDI is an important policy objective of developing countries like India, the results imply that one of the instruments of achieving this objective is for the government to negotiate BITs with countries which are prospective investors. By laying down clear guidelines with respect to investment and widening the scope of investment activities covered under a bilateral agreement, an environment of certainty is created which would facilitate FDI flows.

scholarly journals Handedness results from complementary hemispheric dominance, not global hemispheric dominance: evidence from mechanically coupled bilateral movements

2018 ◽  
Vol 120 (2) ◽  
pp. 729-740 ◽  
Author(s):  
Elizabeth J. Woytowicz ◽  
Kelly P. Westlake ◽  
Jill Whitall ◽  
Robert L. Sainburg
Keyword(s):  
Motor Control ◽  
Dynamic Control ◽  
The Other ◽  
Hemispheric Dominance ◽  
Control Mechanisms ◽  
Left Hand ◽  
Right Hand ◽  
Other Hand ◽  
Task Component ◽  
The Right

Two contrasting views of handedness can be described as 1) complementary dominance, in which each hemisphere is specialized for different aspects of motor control, and 2) global dominance, in which the hemisphere contralateral to the dominant arm is specialized for all aspects of motor control. The present study sought to determine which motor lateralization hypothesis best predicts motor performance during common bilateral task of stabilizing an object (e.g., bread) with one hand while applying forces to the object (e.g., slicing) using the other hand. We designed an experimental equivalent of this task, performed in a virtual environment with the unseen arms supported by frictionless air-sleds. The hands were connected by a spring, and the task was to maintain the position of one hand while moving the other hand to a target. Thus the reaching hand was required to take account of the spring load to make smooth and accurate trajectories, while the stabilizer hand was required to impede the spring load to keep a constant position. Right-handed subjects performed two task sessions (right-hand reach and left-hand stabilize; left-hand reach and right-hand stabilize) with the order of the sessions counterbalanced between groups. Our results indicate a hand by task-component interaction such that the right hand showed straighter reaching performance whereas the left hand showed more stable holding performance. These findings provide support for the complementary dominance hypothesis and suggest that the specializations of each cerebral hemisphere for impedance and dynamic control mechanisms are expressed during bilateral interactive tasks. NEW & NOTEWORTHY We provide evidence for interlimb differences in bilateral coordination of reaching and stabilizing functions, demonstrating an advantage for the dominant and nondominant arms for distinct features of control. These results provide the first evidence for complementary specializations of each limb-hemisphere system for different aspects of control within the context of a complementary bilateral task.

Rediscovering Leon Theremin

Tempo ◽  
1991 ◽  
pp. 18-23 ◽  
Author(s):  
Stephen Montague
Keyword(s):  
Electromagnetic Field ◽  
The Other ◽  
Electronic Instrument ◽  
Left Hand ◽  
Vertical Antenna ◽  
Right Hand ◽  
Concert Halls ◽  
The Right

In the early 1920s and 30s a strange electronic instrument found its way from Russia into some of the more fashionable ballrooms, night clubs, and concert halls in Europe and America. This exotic new invention, called the ‘theremin’ or ‘thereminvox’, caused a considerable stir. Part of the interest was its unusual sound (like a musical saw mated with a light soprano), but its most dramatic feature was that the performer never actually touched the instrument. He or she simply waved graceful hands near the two antennae (one set vertically, the other looped horizontally) to coax out seamless, melifluous melodies. The proximity of the right hand to the vertical antenna changed the ultrasonic electromagnetic field, thus changing the pitch over about a six-octave range. The left hand (or sometimes a foot pedal) controlled the volume. By gently shaking the right hand at the antenna a vibrato could be achieved, giving performances a little more musical (not to mention choreographic) interest. Fashionable women dressed in long gowns seemed to be favourite photographic subjects of the period as performers, as well as the inventor himself, poised ‘playing the rods’ in full dress tails, arms outstretched like a great conductor–or perhaps sorcerer.

Turns on the Move

2019 ◽  
pp. 73-76
Author(s):  
K. B. E. E. Eimeleus
Keyword(s):  
The Other ◽  
Left Shoulder ◽  
Sudden Stop ◽  
Flat Terrain ◽  
Right Hand ◽  
The World ◽  
The Right

This chapter looks at turns on the move with the right or left shoulder aligned with the corresponding ski. It distinguishes three important techniques that have gained currency in the world of sport. One of them pertains only to running skis while the other two require mountain skis with stable bindings. The first is the method for turning in place, used while descending from a mountain or over flat terrain on running skis, or on any skis that lack a stable binding and have a posterior center of balance. The next is the Christiania turn, which is carried out on the inner ski, that is, on the right ski when the turn is done to the right-hand side. Finally, the Telemark turn allows a skier to make a sudden stop as they are descending.

The Right to Unilateral Repudiation of Odious, Illegal, and Illegitimate Sovereign Debt as a Human Rights Defence

2018 ◽  
pp. 536-554
Author(s):  
Ilias Bantekas
Keyword(s):  
Public Policy ◽  
Human Rights ◽  
International Law ◽  
Sovereign Debt ◽  
Debt Management ◽  
Audit Committees ◽  
Bilateral Investment Treaties ◽  
National Debt ◽  
Investment Treaties ◽  
The Right

States enjoy the right to unilaterally denounce sovereign debt that is odious, illegal and illegitimate under strict circumstances. This entitlement does not exist where the debt(s) was/were incurred lawfully. A particular form of denunciation is sovereign insolvency, whose unilateral manifestation, is treated in practice by similar principles and responses as those apply mutatis mutandis to other forms of debt management. This chapter identifies, in addition to insolvency, five forms of unilateral debt denunciation that arise from the limited practice of states, which are moreover consistent with general international law. These are: (a) repudiation or non-enforcement of arbitral awards on public policy grounds; (b) denunciation on grounds of executive necessity and/or the right to fiscal/tax sovereignty; (c) direct unilateral repudiation on the basis of reports by national debt audit committees; (d) repudiation of contracts when creditor/investor violates human rights and of unconscionable concession contracts; (e) re-negotiation of bilateral investment treaties and concessions.

scholarly journals Corrigendum

2018 ◽  
Vol 4 ◽  
pp. 237802311875450
Keyword(s):  
Maximum Likelihood ◽  
Fixed Effects ◽  
The Other ◽  
Sociological Research ◽  
Panel Models ◽  
The Right

Allison, Paul D., Richard Williams, and Enrique Moral-Benito. 2017. “Maximum Likelihood for Cross-lagged Panel Models with Fixed Effects.” Socius: Sociological Research for a Dynamic World 3:1–17. (Original DOI: 10.1177/2378023117710578) In this article, there is an error in the R code shown on pp. 15–16, such that the code displayed there produces noticeably different results from those of the other three packages. The authors have prepared a revised R code that does produce the right results, and have included it below as well as online at https://www3.nd.edu/~rwilliam/dynamic/lav_Socius.R .

Failure to Sing the Left-Hand Part of the Score during Piano Performance: Loss of the Pitch and Stroop Vocalizations

1989 ◽  
Vol 6 (3) ◽  
pp. 299-314 ◽  
Author(s):  
Yves Guiard
Keyword(s):  
The Other ◽  
Vocal Response ◽  
Left Hand ◽  
Performance Loss ◽  
Clear Cut ◽  
Right Hand ◽  
Hand Part ◽  
Continuous Regime ◽  
And Performance ◽  
The Right

An experiment compared the ability of classical pianists to sing, during keyboard performance, the right- and the left-hand part of the score being played. Upon instructions requiring them to "sing" one or the other voice of the score, the subjects spontaneously chose to sing and name the notes simultaneously, in keeping with the French traditional way of reading music, thus producing a two- dimensional tonal and verbal vocal act in response to each visual stimulus. Singing the right-hand part of the music, whether in unison with or in place of the right hand, while concurrently playing the left-hand part was judged easy by all subjects, and performance, typically, was correct in all respects. The other task, consisting of singing the left-hand part of the music, was judged more difficult by all subjects, and performance, more often than not, was poor. Careful inspection of the many errors that were recorded in the latter task revealed a few clear-cut regularities. Failures were vocal, but not manual. More specifically, vocal failures took place on the tonal dimension of the vocal response, but not on its verbal dimension: The song, but not the naming of the notes, was prone to fail, with either a loss of the pitch, or a systematic trend toward singing unduly—albeit accurately—the notes of the right-hand part. A number of subjects were found to display this intriguing tonal/verbal dissociation—naming a note at a pitch corresponding to another note—in a continuous regime. It is emphasized that this phenomenon amounts to the spontaneous production of musical events that belong to the Stroop category.

scholarly journals Synchronization Error of Drum Kit Playing with a Metronome at Different Tempi by Professional Drummers

2011 ◽  
Vol 28 (5) ◽  
pp. 491-503 ◽  
Author(s):  
Shinya Fujii ◽  
Masaya Hirashima ◽  
Kazutoshi Kudo ◽  
Tatsuyuki Ohtsuki ◽  
Yoshihiko Nakamura ◽  
...  
Keyword(s):  
Time Series ◽  
The Other ◽  
Synchronization Error ◽  
Left Hand ◽  
Snare Drum ◽  
Right Hand ◽  
The Absolute ◽  
The Right

the present study examined the synchronization error (SE) of drum kit playing by professional drummers with an auditory metronome, focusing on the effects of motor effectors and tempi. Fifteen professional drummers attempted to synchronize a basic drumming pattern with a metronome as precisely as possible at tempi of 60, 120, and 200 beats per minute (bpm). In the 60 and 120 bpm conditions, the right hand (high-hat cymbals) showed small mean SE (∼2 ms), whereas the left hand (snare drum) and right foot (bass drum) preceded the metronome by about 10 ms. In the 200 bpm condition, the right hand was delayed by about 10 ms relative to the metronome, whereas the left hand and right foot showed small SE (∼1 ms). The absolute values of SE were smaller than those reported in previous tapping studies. In addition, the time series of SE were significantly correlated across the motor effectors, suggesting that each limb synchronized in relation to the other limbs rather than independently with the metronome.

Greek Vases in the Otago Museum

1936 ◽  
Vol 56 (2) ◽  
pp. 235-236
Author(s):  
A. D. Trendall
Keyword(s):  
New Zealand ◽  
Fifth Century ◽  
The Other ◽  
Left Hand ◽  
Right Hand ◽  
Greek Vases ◽  
The Right

Of the recent acquisitions to the Classical Collection of the Otago Museum (Dunedin, New Zealand) the most noteworthy is a particularly fine Attic white ground lekythos of about the middle of the fifth century (Plate XIV). It stands 38 cm. high and is in an excellent state of preservation, having been most carefully repaired with a minimum of repainting, which has affected only the breast of the woman, the right hand of the warrior, and some details of the small figure on top of the stele.The design represents a stele scene of the sort so popular with lekythos artists of this period. To the left stands a woman wearing a sleeved chiton, so thin that it clearly allows her bowed legs to be seen through it; with her left hand she points downward to the base of the stele, which is adorned with a fillet and a wreath. On the other side stands a hoplite with his shield and spear;

Interaction of Vision and Movement via a Mirror

Perception ◽  
2005 ◽  
Vol 34 (9) ◽  
pp. 1153-1155 ◽  
Author(s):  
Eric Lewin Altschuler
Keyword(s):  
Visual Feedback ◽  
Sensory Input ◽  
Motor Output ◽  
The Other ◽  
Left Hand ◽  
Right Hand ◽  
Neural Processes ◽  
The Right ◽  
Striking Effect

I have noticed a striking effect that vision can have on movement: when a person makes circular motions with both hands, clockwise with the left hand, counterclockwise with the right hand, while watching the reflection of one hand in a parasagitally placed mirror, if one arm makes a vertical excursion, the other arm tends to make the same vertical excursion, but not typically if the excursing arm is viewed in plain vision. This observation may help in understanding how visual feedback via a mirror may be beneficial for rehabilitation of some patients with movement deficits secondary to certain neurologic conditions, and illustrates that the traditional division of neural processes into sensory input and motor output is somewhat arbitrary.

Sign in / Sign up

Export Citation Format

Share Document