Testing Mundell's Intuition of Endogenous OCA Theory*

Abstract

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What Drives India's Outward FDI?

“…In addition, we have to redefine our measure of geographical distance as the previously used distance is time invariant. More precisely, we follow Warin et al (2009) and construct distance/population by relating the time-invariant distance to the host countries' population. 23 The effect of tax treaty also loses its significance in the logit estimation.…”

What Drives FDI from Non-Traditional Sources? A Comparative Analysis of the Determinants of Bilateral FDI Flows

“…In our pair fixed effects specification, we replace this time-invariant distance measure (and other time-invariant gravity variables) by an alternative distance measure that varies over time. Specifically, we follow Polak (1996) and Warin et al (2009) and divide logdistance by the population of the host country (see below).…”

On the Brink? Intra‐euro Area Imbalances and the Sustainability of Foreign Debt

“…The latter is particularly true if the real exchange rate channel cannot be fully utilized to correct imbalances—as in the case of limited nominal exchange rate flexibility when all real exchange rate adjustment comes from price level changes. This property links the model to the case of increased trade and FDI flows within the EMU (Warin et al ).…”