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Exchange rate expectations and foreign direct investment flows

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  • Rajesh Chakrabarti
  • Barry Scholnick
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    File URL: http://hdl.handle.net/10.1007/BF02707321
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    Bibliographic Info

    Article provided by Springer in its journal Weltwirtschaftliches Archiv.

    Volume (Year): 138 (2002)
    Issue (Month): 1 (March)
    Pages: 1-21

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    Handle: RePEc:spr:weltar:v:138:y:2002:i:1:p:1-21

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    Keywords: F21;

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    References

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    1. Charles Engel, 1995. "The Forward Discount Anomaly and the Risk Premium: A Survey of Recent Evidence," NBER Working Papers 5312, National Bureau of Economic Research, Inc.
    2. Frankel, Jeff & Froot, Ken, 1986. "Using Survey Data to Test Standard Propositions Regarding Exchange Rate Expectations," Department of Economics, Working Paper Series, Department of Economics, Institute for Business and Economic Research, UC Berkeley qt1972q8wm, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
    3. Jeffrey A. Frankel & Kenneth A. Froot, 1985. "Using Survey Data to Test Some Standard Propositions Regarding Exchange Rate Expectations," NBER Working Papers 1672, National Bureau of Economic Research, Inc.
    4. Michael W. Klein & Eric S. Rosengren, 1992. "The real exchange rate and foreign direct investment in the United States: relative wealth vs. relative wage effects," Working Papers, Federal Reserve Bank of Boston 92-2, Federal Reserve Bank of Boston.
    5. Linda S. Goldberg & Charles D. Kolstad, 1994. "Foreign Direct Investment, Exchange Rate Variability and Demand Uncertainty," NBER Working Papers 4815, National Bureau of Economic Research, Inc.
    6. Joshua Aizenman, 1992. "Exchange Rate Flexibility, Volatility, and Domestic and Foreign Direct Investment," IMF Staff Papers, Palgrave Macmillan, vol. 39(4), pages 890-922, December.
    7. Campa, Joe Manuel, 1993. "Entry by Foreign Firms in the United States under Exchange Rate Uncertainty," The Review of Economics and Statistics, MIT Press, vol. 75(4), pages 614-22, November.
    8. Longin, Francois M, 1997. "The Threshold Effect in Expected Volatility: A Model Based on Asymmetric Information," Review of Financial Studies, Society for Financial Studies, vol. 10(3), pages 837-69.
    9. Shinji Takagi, 1991. "Exchange Rate Expectations: A Survey of Survey Studies," IMF Staff Papers, Palgrave Macmillan, vol. 38(1), pages 156-183, March.
    10. Hartman, David G, 1979. "Foreign Investment and Finance with Risk," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 93(2), pages 213-32, May.
    11. MacDonald, Ronald, 2000. "Is the foreign exchange market 'risky'? Some new survey-based results," Journal of Multinational Financial Management, Elsevier, Elsevier, vol. 10(1), pages 1-14, January.
    12. Kenneth A. Froot & Jeremy C. Stein, 1992. "Exchange Rates and Foreign Direct Investment: An Imperfect Capital Markets Approach," NBER Working Papers 2914, National Bureau of Economic Research, Inc.
    13. Dixit, Avinash K, 1989. "Hysteresis, Import Penetration, and Exchange Rate Pass-Through," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 104(2), pages 205-28, May.
    14. Ball, Laurence & Mankiw, N Gregory, 1995. "Relative-Price Changes as Aggregate Supply Shocks," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 110(1), pages 161-93, February.
    15. Swenson, Deborah L., 1994. "The impact of U.S. tax reform on foreign direct investment in the United States," Journal of Public Economics, Elsevier, vol. 54(2), pages 243-266, June.
    16. Kathryn M. Dominguez, 1986. "Are foreign exchange forecasts rational? New evidence from survey data," International Finance Discussion Papers, Board of Governors of the Federal Reserve System (U.S.) 281, Board of Governors of the Federal Reserve System (U.S.).
    17. Engel, Charles & Hamilton, James D, 1990. "Long Swings in the Dollar: Are They in the Data and Do Markets Know It?," American Economic Review, American Economic Association, vol. 80(4), pages 689-713, September.
    18. Cushman, David O, 1985. "Real Exchange Rate Risk, Expectations, and the Level of Direct Investment," The Review of Economics and Statistics, MIT Press, vol. 67(2), pages 297-308, May.
    19. Dixit, Avinash K, 1989. "Entry and Exit Decisions under Uncertainty," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 97(3), pages 620-38, June.
    20. Kenneth Rogoff, 1996. "The Purchasing Power Parity Puzzle," Journal of Economic Literature, American Economic Association, vol. 34(2), pages 647-668, June.
    21. Kenneth A. Froot & Jeffrey A. Frankel, 1989. "Interpreting Tests of Forward Discount Bias Using Survey Data on Exchange Rate Expectations," NBER Working Papers 1963, National Bureau of Economic Research, Inc.
    22. Takao Itagaki, 1981. "The Theory of the Multinational Firm under Exchange Rate Uncertainty," Canadian Journal of Economics, Canadian Economics Association, vol. 14(2), pages 276-97, May.
    23. Blonigen, Bruce A, 1997. "Firm-Specific Assets and the Link between Exchange Rates and Foreign Direct Investment," American Economic Review, American Economic Association, vol. 87(3), pages 447-65, June.
    24. Maurice Obstfeld & Kenneth S. Rogoff, 1996. "Foundations of International Macroeconomics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262150476, December.
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    Cited by:
    1. Oliver Morrissey & Manop Udomkerdmongkol, 2008. "Foreign Direct Investment and Exchange Rates: A Case Study of US FDI in Emerging Market Countries," Working Papers 2008-10, Economic Research Department, Bank of Thailand.
    2. Matthias Busse & Carsten Hefeker & Signe Nelgen, 2010. "Foreign direct investment and exchange rate regimes," Volkswirtschaftliche Diskussionsbeiträge 141-10, Universität Siegen, Fakultät Wirtschaftswissenschaften, Wirtschaftsinformatik und Wirtschaftsrecht.
    3. Udomkerdmongkol, Manop & Morrissey, Oliver & Gorg, Holger, 2008. "Exchange Rates and Outward Foreign Direct Investment: US FDI in Emerging Economies," Working Paper Series, World Institute for Development Economic Research (UNU-WIDER) RP2008/102, World Institute for Development Economic Research (UNU-WIDER).

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