Foreign direct investment and imperfect capital markets : count data analysis of Japanese FDI in the United States

Foreign direct investment and imperfect capital markets : count data analysis of Japanese FDI in the United States

Between 1981 and 1990, FDI in Japan as a share of total US inward FDI increased four-fold. The increase coincided with the appreciating yen relative to the US dollar. While exchange rate changes can time FDI, Froot and Stein (1991) by assuming imperfect capital markets explain why exchange rate depr...

Full description

Saved in:
Bibliographic Details
Main Author: Ho, Woon Yee
Other Authors: Wang Peiming
Format: Theses and Dissertations
Published: 2008
Subjects:
DRNTU::Business::Finance::International finance::Foreign direct investment
Tags: Add Tag
No Tags, Be the first to tag this record!
Institution: Nanyang Technological University
id sg-ntu-dr.10356-2185
record_format dspace
spelling sg-ntu-dr.10356-21852020-03-20T18:56:09Z Foreign direct investment and imperfect capital markets : count data analysis of Japanese FDI in the United States Ho, Woon Yee Wang Peiming Joseph Dennis Alba School of Humanities and Social Sciences DRNTU::Business::Finance::International finance::Foreign direct investment Between 1981 and 1990, FDI in Japan as a share of total US inward FDI increased four-fold. The increase coincided with the appreciating yen relative to the US dollar. While exchange rate changes can time FDI, Froot and Stein (1991) by assuming imperfect capital markets explain why exchange rate depreciation attracts FDI. Because imperfect capital markets due to asymmetric information makes external finance costly, it constrains firms from borrowing as much as they are willing to finance FDI. These borrowing constraints ease when the foreign currency depreciates resulting in increased relative wealth that can lead to increased FDI. DOCTOR OF PHILOSOPHY (HSS) 2008-09-16T06:37:16Z 2008-09-16T06:37:16Z 2007 2007 Thesis Ho, W. Y. (2007). Foreign direct investment and imperfect capital markets: count data analysis of Japanese FDI in the United States. Doctoral thesis, Nanyang Technological University, Singapore. 10356/2185 10.32657/10356/2185 Nanyang Technological University application/pdf
institution Nanyang Technological University
building NTU Library
country Singapore
collection DR-NTU
topic DRNTU::Business::Finance::International finance::Foreign direct investment
spellingShingle DRNTU::Business::Finance::International finance::Foreign direct investment
Ho, Woon Yee
Foreign direct investment and imperfect capital markets : count data analysis of Japanese FDI in the United States
description Between 1981 and 1990, FDI in Japan as a share of total US inward FDI increased four-fold. The increase coincided with the appreciating yen relative to the US dollar. While exchange rate changes can time FDI, Froot and Stein (1991) by assuming imperfect capital markets explain why exchange rate depreciation attracts FDI. Because imperfect capital markets due to asymmetric information makes external finance costly, it constrains firms from borrowing as much as they are willing to finance FDI. These borrowing constraints ease when the foreign currency depreciates resulting in increased relative wealth that can lead to increased FDI.
author2 Wang Peiming
author_facet Wang Peiming
Ho, Woon Yee
format Theses and Dissertations
author Ho, Woon Yee
author_sort Ho, Woon Yee
title Foreign direct investment and imperfect capital markets : count data analysis of Japanese FDI in the United States
title_short Foreign direct investment and imperfect capital markets : count data analysis of Japanese FDI in the United States
title_full Foreign direct investment and imperfect capital markets : count data analysis of Japanese FDI in the United States
title_fullStr Foreign direct investment and imperfect capital markets : count data analysis of Japanese FDI in the United States
title_full_unstemmed Foreign direct investment and imperfect capital markets : count data analysis of Japanese FDI in the United States
title_sort foreign direct investment and imperfect capital markets : count data analysis of japanese fdi in the united states
publishDate 2008
_version_ 1681047671697047552

Similar Items