Partisan Investment In The Global Economy

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Partisan Investment in the Global Economy

Pablo M. Pinto
Partisan Investment in the Global Economy Book PDF

Author : Pablo M. Pinto
Publisher : Cambridge University Press
Page : 309 pages
File Size : 54,7 Mb
Release : 2013-03-29
Category : Business & Economics
ISBN : 9781107019102

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Partisan Investment in the Global Economy by Pablo M. Pinto Pdf

Pinto develops a partisan theory of foreign direct investment (FDI) arguing that left-wing governments choose policies that allow easier entry by foreign investors more than right-wing governments, and that foreign investors prefer to invest in countries governed by the left. To reach this determination, the book derives the conditions under which investment flows should be expected to affect the relative demand for the services supplied by economic actors in host countries. Based on these expected distributive consequences, a political economy model of the regulation of FDI and changes in investment performance within countries and over time is developed. The theory is tested using both cross-national statistical analysis and two case studies exploring the development of the foreign investment regimes and their performance over the past century in Argentina and South Korea.

Partisan Investment in the Global Economy

Pablo Martín Pinto
Partisan Investment in the Global Economy Book PDF

Author : Pablo Martín Pinto
Publisher : Unknown
Page : 310 pages
File Size : 47,9 Mb
Release : 2013
Category : Electronic books
ISBN : 1139616056

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Partisan Investment in the Global Economy by Pablo Martín Pinto Pdf

"Develops a partisan theory of foreign direct investment (FDI) to explain variance in the regulation of foreign investment and in the amount of FDI inflows that countries receive"--

Partisan Politics in the Global Economy

Geoffrey Garrett
Partisan Politics in the Global Economy Book PDF

Author : Geoffrey Garrett
Publisher : Cambridge University Press
Page : 208 pages
File Size : 41,9 Mb
Release : 1998-03-13
Category : Business & Economics
ISBN : 0521446902

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Partisan Politics in the Global Economy by Geoffrey Garrett Pdf

Geoffrey Garrett challenges the conventional wisdom about the domestic effects of the globalization of markets in the industrial democracies: the erosion of national autonomy and the demise of leftist alternatives to the free market. He demonstrates that globalization has strengthened the relationship between the political power of the left and organized labour and economic policies that reduce market-generated inequalities of risk and wealth. Moreover, macroeconomic outcomes in the era of global markets have been as good or better in strong left-labour regimes ('social democratic corporatism') as in other industrial countries. Pessimistic visions of the inexorable dominance of capital over labour or radical autarkic and nationalist backlashes against markets are significantly overstated. Electoral politics have not been dwarfed by market dynamics as social forces. Globalized markets have not rendered immutable the efficiency-equality trade-off.

Institutions, Partisanship and Credibility in Global Financial Markets

Hye Jee Cho
Institutions Partisanship and Credibility in Global Financial Markets Book PDF

Author : Hye Jee Cho
Publisher : Routledge
Page : 130 pages
File Size : 50,7 Mb
Release : 2017-07-28
Category : Political Science
ISBN : 9781315445021

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Institutions, Partisanship and Credibility in Global Financial Markets by Hye Jee Cho Pdf

Increasingly integrated global financial markets have been shaken by a series of severe shocks in recent decades, from Mexico’s Tequila crisis to the upheavals in the Eurozone. These crises have demonstrated that signs of uncertain local economic and political conditions can result in market fluctuations which in turn cause economic, social, and political instability. Such instability is particularly severe for developing countries that rely heavily on international financial markets for their financial needs. Building credibility in these markets is therefore important for national governments who wish to prevent market panic and capital flight and, ultimately, to achieve stable economic growth. Earlier studies have argued that institutional arrangements that constrain governments and commit them to protecting private property rights and market-friendly policies can send a strong positive signal to the markets about a given country’s sovereign credibility. This book argues, however, that the market perception of such credibility-building institutions is significantly contingent on which party governs the country. Formal institutions confer significant credibility-building effects on left-wing governments, whereas less or no significant effects are enjoyed by right-wing governments. And beyond that, any significant changes in a country’s institutional landscape—such as a breakdown of democracy or joining an international organization that can influence domestic politics—have particularly strong impact on the credibility of left-wing governments. This argument is supported by a quantitative analysis of sovereign credit ratings data collected from around 90 developing countries from 1980 to 2007, by case studies from South Asia, Eastern Europe and Latin America, and by face-to-face interviews with 24 financial market experts based in Hong Kong, Seoul, and Paris.

Failure to Adjust

Edward Alden
Failure to Adjust Book PDF

Author : Edward Alden
Publisher : Rowman & Littlefield
Page : 268 pages
File Size : 52,7 Mb
Release : 2017-09-15
Category : Political Science
ISBN : 9781538109090

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Failure to Adjust by Edward Alden Pdf

*Updated edition with a new foreword on the Trump administration's trade policy* The vast benefits promised by the supporters of globalization, and by their own government, have never materialized for many Americans. In Failure to Adjust Edward Alden provides a compelling history of the last four decades of US economic and trade policies that have left too many Americans unable to adapt to or compete in the current global marketplace. He tells the story of what went wrong and how to correct the course. Originally published on the eve of the 2016 presidential election, Alden’s book captured the zeitgeist that would propel Donald J. Trump to the presidency. In a new introduction to the paperback edition, Alden addresses the economic challenges now facing the Trump administration, and warns that economic disruption will continue to be among the most pressing issues facing the United States. If the failure to adjust continues, Alden predicts, the political disruptions of the future will be larger still.

Nation-States and the Multinational Corporation

Nathan M. Jensen
Nation States and the Multinational Corporation Book PDF

Author : Nathan M. Jensen
Publisher : Princeton University Press
Page : 212 pages
File Size : 40,8 Mb
Release : 2008-01-21
Category : Business & Economics
ISBN : 9781400837373

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Nation-States and the Multinational Corporation by Nathan M. Jensen Pdf

What makes a country attractive to foreign investors? To what extent do conditions of governance and politics matter? This book provides the most systematic exploration to date of these crucial questions at the nexus of politics and economics. Using quantitative data and interviews with investment promotion agencies, investment location consultants, political risk insurers, and decision makers at multinational corporations, Nathan Jensen arrives at a surprising conclusion: Countries may be competing for international capital, but government fiscal policy--both taxation and spending--has little impact on multinationals' investment decisions. Although government policy has a limited ability to determine patterns of foreign direct investment (FDI) inflows, political institutions are central to explaining why some countries are more successful in attracting international capital. First, democratic institutions lower political risks for multinational corporations. Indeed, they lead to massive amounts of foreign direct investment. Second, politically federal institutions, in contrast to fiscally federal institutions, lower political risks for multinationals and allow host countries to attract higher levels of FDI inflows. Third, the International Monetary Fund, often cited as a catalyst for promoting foreign investment, actually deters multinationals from investment in countries under IMF programs. Even after controlling for the factors that lead countries to seek IMF support, IMF agreements are associated with much lower levels of FDI inflows.

Politics and Foreign Direct Investment

Nathan Jensen
Politics and Foreign Direct Investment Book PDF

Author : Nathan Jensen
Publisher : University of Michigan Press
Page : 220 pages
File Size : 52,8 Mb
Release : 2012-09-18
Category : Business & Economics
ISBN : 9780472051762

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Politics and Foreign Direct Investment by Nathan Jensen Pdf

What makes a country attractive to multinational corporations?

Global Goliaths

James R. Hines
Global Goliaths Book PDF

Author : James R. Hines
Publisher : Brookings Institution Press
Page : 585 pages
File Size : 52,5 Mb
Release : 2021-04-20
Category : Business & Economics
ISBN : 9780815738565

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Global Goliaths by James R. Hines Pdf

How multinationals contribute, or don't, to global prosperity Globalization and multinational corporations have long seemed partners in the enterprise of economic growth: globalization-led prosperity was the goal, and giant corporations spanning the globe would help achieve it. In recent years, however, the notion that all economies, both developed and developing, can prosper from globalization has been called into question by political figures and has fueled a populist backlash around the world against globalization and the corporations that made it possible. In an effort to elevate the sometimes contentious public debate over the conduct and operation of multinational corporations, this edited volume examines key questions about their role, both in their home countries and in the rest of the world where they do business. Is their multinational nature an essential driver of their profits? Do U.S. and European multinationals contribute to home country employment? Do multinational firms exploit foreign workers? How do multinationals influence foreign policy? How will the rise of the digital economy and digital trade in services affect multinationals? In addressing these and similar questions, the book also examines the role that multinational corporations play in the outcomes that policymakers care about most: economic growth, jobs, inequality, and tax fairness.

The Political Economy of Investment Arbitration

ZOE. WILLIAMS
The Political Economy of Investment Arbitration Book PDF

Author : ZOE. WILLIAMS
Publisher : Oxford University Press
Page : 209 pages
File Size : 54,8 Mb
Release : 2022-09-08
Category : Electronic
ISBN : 9780198865940

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The Political Economy of Investment Arbitration by ZOE. WILLIAMS Pdf

The Political Economy of Investment Arbitration asks how political institutions and actors in the host state of an investment contribute to the emergence of investor-state disputes. Combining insights from international relations and political economy, it considers two opposing explanations for investor-state disputes: shifting state preferences toward FDI, or the lack of state capacity to maintain an investment-friendly environment. This book's overarching conclusion is that democratic institutions in host states contribute to the emergence of investor-state disputes. Phillips Williams argues that at the heart of many investor-state disputes are highly politicized distributional conflicts involving a range of domestic interest groups. Indeed, it is often pressure from these groups, whether through voting, protests or lobbying, which motivates states to take the policy decisions that are subsequently subject to investors' legal challenges. Thus, this monograph demonstrates that in the face of the potentially high costs posed by investment arbitration, governments continue to take measures which may harm investors in order to pursue specific policy goals. More importantly, these disputes are not only the result of corruption or weak rule of law, but of measures which are taken at the behest of broader interest groups and relate to clear public policy concerns. This has important implications of our normative assessment of the regime and is highly relevant to current debates in both international law and international political economy about the relationship between investment treaties and domestic politics.

In Bed with Wall Street

Larry Doyle
In Bed with Wall Street Book PDF

Author : Larry Doyle
Publisher : St. Martin's Press
Page : 240 pages
File Size : 43,5 Mb
Release : 2014-01-07
Category : Business & Economics
ISBN : 9781137401427

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In Bed with Wall Street by Larry Doyle Pdf

The Wall Street meltdown in 2008 brought the country to its knees, and spawned nationwide protests against the lack of regulation and oversight facing Wall Street. But the average American still fails to fully grasp what was—and still is—happening: that the inmates continue to run the asylum. Doyle has been tracking this story for years through his blog Sense on Cents, and exposes here how Wall Street, our politicians, and the regulators themselves have conspired for personal and industry-wide gains while failing to protect investors, consumers, and the American taxpayer. He details the corrupt nature of Wall Street's financial police, who are little more than meter maids imposing fines that amount to nothing more than a slap on the wrist. He exposes the revolving door of Wall Street, wherein the regulators are all former or future employees of the very firms they're tasked with overseeing, and how they routinely serve the interests of the industry itself rather than protecting investors and markets. Recent bombshells—such as multi-billion dollar trading losses at JP Morgan Chase, the manipulation of interest rates via the LIBOR scandal, and money laundering with North American drug cartels and rogue nations such as Iran—are symptomatic of this corrosive culture and the lack of trust and confidence in the system. As the big banks fight tooth and nail to avoid real reforms that would protect the economy, this book is a timely, important, and shocking look inside the Washington-Wall Street conspiracy crippling America and the global economy.

The Shield of Nationality

Rachel L. Wellhausen
The Shield of Nationality Book PDF

Author : Rachel L. Wellhausen
Publisher : Cambridge University Press
Page : 287 pages
File Size : 48,5 Mb
Release : 2015
Category : Business & Economics
ISBN : 9781107082762

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The Shield of Nationality by Rachel L. Wellhausen Pdf

The Shield of Nationality examines multinational corporations' relations with governments in developing countries. Wellhausen explains why governments can sometimes expropriate foreign-owned property, even in an era in which global capital is expected to have significant power. A new factor - the nationality of multinational corporations - is discussed as a source of political risk.

Promoting and Managing International Investment

J Anthony VanDuzer,Patrick Leblond
Promoting and Managing International Investment Book PDF

Author : J Anthony VanDuzer,Patrick Leblond
Publisher : Routledge
Page : 261 pages
File Size : 54,7 Mb
Release : 2020-02-17
Category : Law
ISBN : 9780429594694

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Promoting and Managing International Investment by J Anthony VanDuzer,Patrick Leblond Pdf

This book provides an overview of international investment policy and policy-making, drawing upon perspectives from law, economics, international business, and political science. International investment is a complex phenomenon with significant effects worldwide. Developing effective policies and strategies to attract investment in sufficient quantities and marshal it to contribute to sustainable development is a critical challenge for governments at all levels. This book’s interdisciplinary approach provides fresh insights into the mix of policy options available to governments seeking investment to support their country’s (or region’s) development. As well as identifying ways to effectively design, implement, and assess policies to attract foreign investment, it explores how to manage foreign investment’s effects. Various dimensions of international investment policy are discussed, including benefits and costs (economic, environmental, social, and political) of foreign investment, the significance of global value chains, state-owned enterprises and sovereign wealth funds, and the role of tax policy, investment promotion, and policy advocacy, location branding, investment treaties, and national security considerations. Through its contributions to a new interdisciplinary understanding of international investment policy-making, this book will benefit students and scholars working in areas such as international business, international economic law, international economics, development economics, international development, and international political economy as well as being a valuable resource for policy-makers.

Convergence as Adaptivity

Zhiyuan Wang
Convergence as Adaptivity Book PDF

Author : Zhiyuan Wang
Publisher : State University of New York Press
Page : 177 pages
File Size : 47,9 Mb
Release : 2023-07-01
Category : Political Science
ISBN : 9781438493800

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Convergence as Adaptivity by Zhiyuan Wang Pdf

Convergence as Adaptivity explores under what conditions policy convergence may be seen an indication of policy autonomy. Zhiyuan Wang advances a theory that argues states substitute unwanted policy changes dictated by globalization with politically feasible ones. Investigating bilateral investment treaties, preferential trade agreements, corporate taxation, and central bank independence as policy substitutes, he provides both quantitative and qualitative evidence to substantiate the core theoretical argument and explores under what conditions policy convergence can be an indication of policy autonomy and through what manner. The result is a systemic and rigorous exploration of the idea of policy substitution and its consequences under globalization. Wang's findings will be of interest to scholars, practitioners, and concerned citizens hoping to deepen their understanding of globalization as well as useful for undergraduate and graduate courses in international relations, international and comparative political economy, and globalization.

Globalizing Innovation

Patrick J.W. Egan
Globalizing Innovation Book PDF

Author : Patrick J.W. Egan
Publisher : MIT Press
Page : 313 pages
File Size : 43,6 Mb
Release : 2018-01-12
Category : Business & Economics
ISBN : 9780262037358

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Globalizing Innovation by Patrick J.W. Egan Pdf

The impact of host country institutions and policy on innovation by multinational firms in emerging economies. In the past, multinational firms have looked to developing countries as sources of raw materials, markets, or production efficiencies, but rarely as locations for innovation. Today, however, R&D facilities and other indicators of multinational-linked innovation are becoming more common in emerging economies. In this book, Patrick Egan investigates patterns of inward foreign direct investment (FDI) in developing countries, considering the impact of host country institutions and policy on the innovative activities undertaken by multinational firms. He examines the uneven spread of innovation-intensive foreign direct investment and emerging sectoral distributions, then develops a number of arguments about the determinants of multinational innovation in developing countries. Firms are attracted by a country's supply of skilled labor and are often eager to innovate close to new markets; but, Egan finds, host country institutions and the configuration of the host country's investment policies have a strong impact on firm decisions and evolving country investment profiles. Egan uses econometric analysis to identify determinants of multinational innovation, and examines differences among state institutions as a key variable. He then offers a detailed case study, assessing Ireland's attempts to use foreign direct investment in innovation as a catalyst for development. While FDI is a potential vehicle for industrial upgrading, Egan cautions, it is neither necessary nor sufficient for development. Furthermore, innovation-intensive investments are not likely to develop linkages with local actors or otherwise embed themselves in host economies in the absence of active, discriminating policies channeled through coherent and coordinated institutions.

Raise the Debt

Jonas B. Bunte
Raise the Debt Book PDF

Author : Jonas B. Bunte
Publisher : Oxford University Press
Page : 400 pages
File Size : 51,6 Mb
Release : 2019-01-29
Category : Political Science
ISBN : 9780190866181

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Raise the Debt by Jonas B. Bunte Pdf

Credit is the lifeblood of capitalism and development. Brazil, Russia, India, and China-also called BRICs-have become important creditors to developing countries. However, how will their loans affect economic development and democracy in recipient countries? We need to understand why governments accept Chinese over Western loan offers before we can predict their likely consequences. In Raise the Debt, Jonas B. Bunte systematically explains how governments choose among competing loan offers. Using statistical analyses and extensive interview data, he shows that the strings attached to loans vary across creditors. Consequently, one domestic interest group may benefit from Chinese credit but not U.S. loans, while the opposite is the case for other groups. Bunte provides evidence that governments cater to whichever domestic interest group is politically dominant when deciding between competing loan offers. Combining a comparative politics approach with international political economy methods, Raise the Debt shows how a deeper understanding of governments' borrowing decisions is critical for gaining insights into how these loans could impact growth and democracy on a global scale.