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Ades, Alberto; Chua, Hak B.

doi:10.1023/a:1009782809329

Cited by 167 publications

(5 citation statements)

References 24 publications

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“…This result suggests that the quality of institutions in a region negatively affects the economic performance of neighbouring regions. This result is surprising and runs contrary to studies documenting positive indirect spillovers of institutions towards growth (Ades & Chua, 1997;Arbia et al, 2010;Bosker & Garretsen, 2009), but our study is not the first to find no empirical evidence of positive spillover effects of institutions. For instance, Claeys andManca (2011), Faber andGerritse (2012), and Ahmad and Hall (2017) also report similar findings.…”

Section: Resultscontrasting

confidence: 99%

Regional economic growth and convergence: The role of institutions and spillover effects in Colombia

Aristizábal

García

2021

Regional Science Policy & Practice

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This study analyses the relationship between institutions and economic growth at the intra-regional level in Colombia. We estimated models of economic growth augmented by an institutional variable and spatial effects. The results show that conditional convergence in regions of Colombia considering institutional and spatial effects leads to a convergence rate that is relatively higher than those found in a standard growth model. The results also show that institutions have a strong positive impact on regional economic growth. The spatial spillover effects of institutional factors of a region exhibit a negative effect on economic growth in neighbouring regions, which can be explained by high levels of heterogeneity and institutional fragmentation found in regions in Colombia.

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Section: Resultscontrasting

confidence: 99%

Regional economic growth and convergence: The role of institutions and spillover effects in Colombia

Aristizábal

García

2021

Regional Science Policy & Practice

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“…It is so because political instability increases investment risk, especially in Mexico and Turkey. Political instability disrupts trade flows and creates a hostile environment (Ades and Chua, 1997). Such an atmosphere is not instrumental for foreign investors (Ancharaz, 2003).…”

Section: Discussionmentioning

confidence: 99%

Drivers of FDI in emerging economies: BRICS vs. MINT

al.¹

2022

Int. j. adv. appl. sci.

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It has been observed that one of the challenges posed to emerging economies is capital constraints. In such a situation, Foreign Direct Investment (FDI) has emerged as a significant capital source for emerging economies. Since liberalization and globalization, emerging economies have achieved remarkable growth through FDI. Therefore, it becomes critical to evaluate FDI determinants in such economies. Many studies are available in this regard; however, there are shreds of evidence of contradictory results. Furthermore, in recent years many scholars have been concerned that human capital can potentially be among the probable determinants of FDI. For the present study, we evaluated the impact of economic indicators (GDP, inflation, infrastructure, and trade openness), political stability of the host country, and human capital development on FDI in emerging economies by drawing pieces of evidence from BRICS and MINT economies. The results revealed that GDP is the most significant factor attracting FDI in BRICS nations, and other economic, political, and human capital-related factors have a trifling impact on FDI. In the case of MINT economies, the results unveiled that political stability, higher GDP, and investment in human capital yield a higher influx of foreign capital. While taking a combined sample, i.e., BRICS and MINT combined, it has been revealed that human capital and market size positively impacts FDI inflows, while inflation has an adverse effect.

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“…Firstly, we contribute to the literature on the economic spillover effects of regional conflicts in neighboring countries. Ades and Chua [1997] show that regional instability in neighboring countries, proxied by the average number of revolutions and coups per year of all the countries in the defined region, disrupts trade flows. Murdoch and Sandler [2002] use a neoclassical growth model to empirically test the influence of a civil war on steady-state income per capita in neighboring countries.…”

Section: Literature Reviewmentioning

confidence: 99%

The Russian invasion of Ukraine and the exchange rate of the Polish zloty: A fallacy of monetary autonomy?

Borowski,

Jaworski

2024

International Journal of Management and Economics

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We use the Twitter application programming interface to construct a novel indicator capturing the varying perceptions of geopolitical risk related to the war in Ukraine. We show that the Twitter variable is a statistically significant determinant of the EUR/PLN exchange rate following the invasion. We estimate that the war in Ukraine was responsible for an increase in the EUR/PLN exchange rate of about 5.0% in the first 2 weeks following its breakout and that the weakening of PLN contributed to an increase of headline inflation in Poland by about 0.33 percentage points. Our findings suggest that monetary policy autonomy can be substantially constrained due to conflicts in nearby countries. Therefore, they provide an argument for Poland in seeking Eurozone membership as a way to contain the impact of geopolitical factors on exchange rate volatility, which is likely to remain at play in the longer run.

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Untitled

Cited by 167 publications

References 24 publications

Regional economic growth and convergence: The role of institutions and spillover effects in Colombia

Regional economic growth and convergence: The role of institutions and spillover effects in Colombia

Drivers of FDI in emerging economies: BRICS vs. MINT

The Russian invasion of Ukraine and the exchange rate of the Polish zloty: A fallacy of monetary autonomy?

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