Fire-sale foreign direct investment and liquidity crises

Review of Economics and Statistics

Volumn 87, Issue 3, 2005, Pages 439-452

  Aguiar, Mark ^a   Gopinath, Gita ^b  

^a FEDERAL RESERVE BANK OF BOSTON   (United States)

^b UNIVERSITY OF CHICAGO   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 23844556803     PISSN: 00346535     EISSN: None     Source Type: Journal    
DOI: 10.1162/0034653054638319     Document Type: Review

References (20)

1. Aguiar, Mark, "Investment, Devaluation, and Foreign Currency Exposure: The Case of Mexico," Journal of Development Economics (forthcoming).
2. Aghion, Philippe, Philippe Bacchetta, and Abhijit Banerjee, "A Simple Model of Monetary Policy and Currency Crises," European Economic Review 44 (2000), 728-738.
3. Aitken, Brian, and Anne Harrison, "Do Domestic Firms Benefit from Direct Foreign Investment? Evidence from Venezuela," American Economic Review 89:3 (1999), 605-618.
4. Bernanke, Ben, Mark Gertler, and Simon Gilchrist, "The Financial Accelerator in a Quantitative Business Cycle Framework," NBER working paper no. 6455 (1998).
5. Blalock, Garrick, Paul Gertler, and David Levine, "Investment Following a Financial Crisis: Does Foreign Ownership Matter?" Cornell University working paper (2003).
6. Blomstrom, Magnus, and Edward Wolff, "Multinational Corporations and Productivity Convergence in Mexico" (pp. 263-284), in W. Baumol, R. Nelson, and N. Wolff (Eds.), Convergence of Productivity: Cross-National Studies and Historical Evidence (Oxford University Press, 1994).
7. Blonigen, Bruce, "Firm-Specific Assets and the Link between Exchange Rates and Foreign Direct Investment," American Economic Review 87:3 (1997), 447-465.
8. Caballero, Ricardo, and Arvind Krishnamurthy, "International and Domestic Collateral Constraints in a Model of Emerging Market Crises," Journal of Monetary Economics 48:3 (2001), 513-548.
9. Chang, Roberto, and Andres Velasco, "A Model of Financial Crises in Emerging Markets," Quarterly Journal of Economics 116:2 (2001), 489-517.
10. Corsetti, Giancarlo, Paolo Pesenti, and Noriel Roubini, "What Caused the Asian Currency and Financial Crisis? Part I: A Macroeconomic Overview," NBER working paper no. 6833 (1998).
11. De Gregorio, Jose, Alberto Giovannini, and Holger C. Wolf, "International Evidence on Tradables and Nontradables Inflation," European Economic Review 38 (1994), 1225-1244.
12. Desai, Mihir, C. Fritz Foley, and Kristin Forbes, Financial Constraints and Growth: Multinational and Local Firm Responses to Currency Crises," NBER working paper no. 10545 (2004).
13. Froot, Kenneth, and Jeremy Stein, "Exchange Rates and Foreign Direct Investment: An Imperfect Capital Markets Approach," Quarterly Journal of Economics 106:4 (1991), 1191-1217.
14. Goldberg, Linda, "Financial Sector FDI and Host Countries: New and Old Lessons," NBER working paper no. 10441 (2004).
15. Hubbard, R. Glenn, "Capital-Market Imperfections and Investment," Journal of Economic Literature 36:1 (1998), 193-225.
16. Krugman, Paul, "Fire-sale FDI," prepared for NBER Conference on Capital Flows to Emerging Markets, February 20-21, 1998;
17. MIT mimeograph (1998).
18. Love, Inessa (2003), "Financial Development and Financing Constraints: International Evidence from the Structural Investment Model," Review of Financial Studies 16:Fall (2003), 765-791.
19. Olley, Steve, and Ariel Pakes, "The Dynamics of Productivity in the Telecommunications Equipment Industry," Econometrica 64 (1996), 1263-1297.
20. Pulvino, Todd C., "Do Asset Firesales Exist?: An Empirical Investigation of Commercial Aircraft Transactions, Journal of Finance 53 (1998), 939-978.