dc.contributor.author |
Bogach, Olga |
|
dc.contributor.author |
Noy, Ilan |
|
dc.date.accessioned |
2012-03-30T00:16:38Z |
|
dc.date.accessioned |
2022-07-05T02:30:46Z |
|
dc.date.available |
2012-03-30T00:16:38Z |
|
dc.date.available |
2022-07-05T02:30:46Z |
|
dc.date.copyright |
2012 |
|
dc.date.issued |
2012 |
|
dc.identifier.uri |
https://ir.wgtn.ac.nz/handle/123456789/18630 |
|
dc.description.abstract |
In this paper, we analyze the evolution of foreign direct investment (FDI) inflows to developing and emerging countries around financial crises. We empirically and thoroughly examine the Fire‐Sale FDI hypothesis and describe the pattern of FDI inflows surrounding financial crises. We also add a more granular detail about the types of financial crises and their potentially differential effects on FDI. We distinguish between Mergers and Acquisitions (M&A) and Greenfield investment, as well as between different motivations for FDI—horizontal (tariff jumping) and vertical (integrating production stages). We find that financial crises have a strong negative effect on inward FDI in our sample. Crises are also shown to reduce the value of horizontal and vertical FDI. We do not find empirical evidence of Fire‐Sale FDI. On the contrary, financial crises are shown to affect FDI flows and M&A activity adversely. |
en_NZ |
dc.format |
pdf |
en_NZ |
dc.language.iso |
en_NZ |
|
dc.publisher |
Te Herenga Waka—Victoria University of Wellington |
en_NZ |
dc.relation.ispartofseries |
SEF Working Paper Series |
en_NZ |
dc.subject |
International investment |
en_NZ |
dc.subject |
Foreign direct investment (FDI) |
en_NZ |
dc.subject |
Financial crises |
en_NZ |
dc.subject |
Mergers and Acquisitions |
en_NZ |
dc.subject |
Multinational firms |
en_NZ |
dc.title |
Fire-Sale FDI? The impact of financial crises on foreign direct investment |
en_NZ |
dc.type |
Text |
en_NZ |
vuwschema.contributor.unit |
School of Economics and Finance |
en_NZ |
vuwschema.subject.anzsrcfor |
149999 Economics not elsewhere classified |
en_NZ |
vuwschema.subject.marsden |
149999 Economics not elsewhere specified |
en_NZ |
vuwschema.type.vuw |
Working or Occasional Paper |
en_NZ |
vuwschema.subject.anzsrcforV2 |
389999 Other economics not elsewhere classified |
en_NZ |
dc.rights.rightsholder |
www.vuw.ac.nz/sef |
en_NZ |