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Research Summary

Selling China: Foreign Direct Investment During the Reform Era

The aim of the book is to illustrate the dynamics of foreign direct investment (FDI) in China in the 1990s. The topic is important both because China is the world's second largest recipient of FDI and because there are substantial misconceptions about the drivers of... View Details

Research Summary

Political Risk, Foreign Intervention and International Arbitration

The Empire Trap: America's Attempts to Protect Property Rights Overseas, 1898-2008, is a history of the U.S. government's attempts to protect the property rights of American investors when they venture outside the boundaries of the United... View Details

October 1994 (Revised November 1995)
Case

N.V. Philips Electronics - Currency Hedging Policies

By: Richard F. Meyer

Describes Philips Electronics' policies and problems relating to foreign exchange risk and hedging. Explains centralization versus decentralization of currency hedging, economic role versus transaction role, the difficulties of capturing the necessary information... View Details

Keywords: Business Divisions; Currency Exchange Rate; International Finance; Globalization; Policy; Information Management; Management; Problems and Challenges; Risk and Uncertainty

2020
Article

Remaking the Imperial Presidency: The Mayaguez Incident of 1975 and the Contradictions of Credibility

By: Mattias Fibiger

This article argues that the Mayaguez incident of 1975 was a missed opportunity to establish a more democratic American foreign policy. President Gerald Ford managed the crisis with an eye toward domestic and international credibility. But his conception of credibility... View Details

Keywords: Foreign Policy; Presidency; Ford Administration; Government and Politics; History; Crisis Management; United States

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2007
Other Unpublished Work

Norway's Role in the Global Economy of the 21st Century—Key Policy Issues: Prepared for the Norwegian Ministry of Foreign Affairs

By: Christian H.M. Ketels

The paper discusses key consequences of globalisation for Norwegian external economic policy. View Details

Keywords: Economics; Globalization; Policy; Norway

15 May 2007
Working Paper Summaries

How is Foreign Aid Spent? Evidence from a Compelling Natural Experiment

Keywords: by Eric Werker, Faisal Z. Ahmed & Charles Cohen

May 1990
Article

Chartists, Fundamentalists, and Trading in the Foreign Exchange Market

By: J. Frankel and K. A. Froot

Keywords: Currencies; Exchange Rates; International Macroeconomics; Monetary Policy; Currency Controls; Fixed Exchange Rates; Floating Exchange Rates; Currency Bands; Currency Zones; Currency Areas; Rational Expectations; Asset Pricing

March 2005 (Revised January 2006)
Case

Foreign Exchange Hedging Strategies at General Motors: Transactional and Translational Exposures

By: Mihir A. Desai and Mark Veblen

How should a multinational firm manage foreign exchange exposures? Examines transactional and translational exposures and alternative responses to these exposures by analyzing two specific hedging decisions by General Motors. Describes General Motors' corporate hedging... View Details

Keywords: Multinational Firms and Management; Currency Exchange Rate; Expansion; Credit Derivatives and Swaps; Financial Management; Investment Funds; Risk and Uncertainty; International Finance; Auto Industry

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Article

Tax Policy and the Efficiency of U.S. Direct Investment Abroad

By: Mihir A. Desai, C. Fritz Foley and James R. Hines Jr.

Deferral of U.S. taxes on foreign source income is commonly characterized as a subsidy to foreign investment, as reflected in its inclusion among "tax expenditures" and occasional calls for its repeal. This paper analyzes the extent to which tax deferral and other... View Details

Keywords: International Taxation; Dynamic Efficiency; Deferral; Policy; Taxation; Performance Efficiency; Foreign Direct Investment; Investment Funds; Investment Return; Business Earnings; Equity; Financing and Loans; Cash Flow; Capital; United States

SSRN

April 13, 2017
Article

The World Almost Ended One Week in 1983

By: Nate Jones and J. Peter Scoblic

Keywords: Foreign Policy; Cold War; Nuclear

2011
Working Paper

Tax Policy and the Efficiency of U.S. Direct Investment Abroad

By: Mihir A. Desai, C. Fritz Foley and James R. Hines Jr.

Deferral of U.S. taxes on foreign source income is commonly characterized as a subsidy to foreign investment, as reflected in its inclusion among "tax expenditures" and occasional calls for its repeal. This paper analyzes the extent to which tax deferral and other... View Details

Keywords: Cash Flow; Investment Return; Foreign Direct Investment; Investment Funds; Policy; Taxation; United States

March 2005 (Revised March 2006)
Case

Foreign Exchange Hedging Strategies at General Motors: Competitive Exposures

By: Mihir A. Desai and Mark Veblen

How can a multinational firm analyze and manage currency risks that arise from competitive exposures? General Motors has a substantial competitive exposure to the Japanese yen. Although the risks GM faces from the depreciating yen are widely acknowledged, the company's... View Details

Keywords: Multinational Firms and Management; Currency Exchange Rate; Competition; Credit Derivatives and Swaps; International Finance; Financial Management; Investment Funds; Risk and Uncertainty; Auto Industry

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2019
Working Paper

The Gift of Global Talent: Innovation Policy and the Economy

By: William R. Kerr

Talent is the most precious resource for today’s knowledge-based economy, and a significant share of the U.S. skilled workforce in technology fields is foreign born. The United States has long held a leading position in attracting global talent, but the gap to other... View Details

Keywords: Global Talent Flows; Talent and Talent Management; Global Range; Immigration; Policy; Economy

2013
Working Paper

These Are the Good Old Days: Foreign Entry and the Mexican Banking System

By: Stephen Haber and Aldo Musacchio

In 1997, the Mexican government reversed long-standing policies and allowed foreign banks to purchase Mexico's largest commercial banks and relaxed restrictions on the founding of new, foreign-owned banks. The result has been a dramatic shift in the ownership structure... View Details

Keywords: Market Entry and Exit; Balance and Stability; Foreign Direct Investment; Banks and Banking; Society; Economics; Banking Industry; Mexico

SSRN

03 Aug 2011
Working Paper Summaries

Tax Policy and the Efficiency of US Direct Investment Abroad

Keywords: by Mihir A. Desai, C. Fritz Foley & James R. Hines Jr.

2020
Chapter

Reserve Accumulation, Sovereign Debt, and Exchange Rate Policy

By: Laura Alfaro and Fabio Kanczuk

In the past decade, foreign participation in local-currency bond markets in emerging countries increased dramatically. Additionally, emerging countries are increasingly deviating from inflation targeting regimes, managing their exchange rate and engaging in... View Details

Keywords: Reserves; Exchange Rate; Sovereign Finance; Currency Exchange Rate; Policy