| 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 |
| URL | https://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. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| NDL1997-051.pdf（295KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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