G2TT
来源类型FEEM working papers "Note di lavoro" series
规范类型论文
Foreign Direct Investment in Transition Economies: an Option Approach to Sovereign Risk
Michele Moretto; Paola Valbonesi
发表日期1997
出处Economy and Society
出版年1997
语种英语
摘要At the start of the transition process in previously centrally planned economies the inflow of foreign capital was considered one of the main factors that allows the reduction of the economic and social costs of transformation. However, in practice, the role of foreign capital has appeared to be less significant than expected. Relying on the relationship between irreversible investment and the option pricing approach, we show that the link between sovereign risk and investment flexibility provides an explanation of capital inflow slow-downs and that such an explanation depends crucially on the expected persistence of policies affecting capital mobility.
特色分类F21,P21
关键词Transition economics,Capital mobility,Investment irreversibility
URLhttps://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/foreign-direct-investment-in-transition-economies-an-option-approach-to-sovereign-risk/
来源智库Fondazione Eni Enrico Mattei (Italy)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/116250
推荐引用方式
GB/T 7714
Michele Moretto,Paola Valbonesi. Foreign Direct Investment in Transition Economies: an Option Approach to Sovereign Risk. 1997.
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NDL1997-051.pdf(295KB)智库出版物 限制开放CC BY-NC-SA浏览
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