Exchange rates and FDI: goods versus capital market frictions

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dc.contributor.author Buch, Claudia M. de_DE
dc.contributor.author Kleinert, Jörn de_DE
dc.date.accessioned 2006-08-18 de_DE
dc.date.accessioned 2014-03-18T10:02:35Z
dc.date.available 2006-08-18 de_DE
dc.date.available 2014-03-18T10:02:35Z
dc.date.issued 2006 de_DE
dc.identifier.other 284961248 de_DE
dc.identifier.uri http://nbn-resolving.de/urn:nbn:de:bsz:21-opus-24374 de_DE
dc.identifier.uri http://hdl.handle.net/10900/47508
dc.description.abstract Economic theory provides two main explanations why changes in exchange rates can affect foreign direct investment (FDI). According to a first explanation, FDI reacts to exchange rate changes if there are information frictions on capital markets and if the investment by firms depends on their net worth (capital market friction hypothesis). According to a second explanation, FDI reacts to exchange rate changes if output and factor markets are segmented, and if firm-specific assets are important (goods market friction hypothesis). We provide a unified theoretical framework of the two explanations and test the model using German sectoral data derived from detailed firm-level data. We find greater support for the goods market friction hypothesis. en
dc.language.iso en de_DE
dc.publisher Universität Tübingen de_DE
dc.rights ubt-podno de_DE
dc.rights.uri http://tobias-lib.uni-tuebingen.de/doku/lic_ohne_pod.php?la=de de_DE
dc.rights.uri http://tobias-lib.uni-tuebingen.de/doku/lic_ohne_pod.php?la=en en
dc.subject.classification Multinationales Unternehmen , Wechselkurs de_DE
dc.subject.ddc 330 de_DE
dc.subject.other FDI , exchange rates , net worth effects , multinational firms en
dc.title Exchange rates and FDI: goods versus capital market frictions en
dc.type ResearchPaper de_DE
dc.date.updated 2006-08-18 de_DE
utue.publikation.fachbereich Wirtschaftswissenschaften de_DE
utue.publikation.fakultaet 6 Wirtschafts- und Sozialwissenschaftliche Fakultät de_DE
dcterms.DCMIType Text de_DE
utue.publikation.typ workingPaper de_DE
utue.opus.id 2437 de_DE
utue.opus.portal wiwidisk de_DE
utue.opus.portalzaehlung 304.00000 de_DE
utue.publikation.source Tübinger Diskussionsbeiträge der Wirtschaftswissenschaftlichen Fakultät ; 304 de_DE
utue.publikation.reihenname Tübinger Diskussionsbeitrag de_DE
utue.publikation.zsausgabe 304
utue.publikation.erstkatid 2136475-8

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