Satellites and Commissars: Strategy and Conflict in the Politics of Soviet-Bloc Trade
In: Europe Asia studies, Band 49, Heft 2, S. 328
ISSN: 0966-8136
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In: Europe Asia studies, Band 49, Heft 2, S. 328
ISSN: 0966-8136
In: European journal of political economy, Band 73, S. 102122
ISSN: 1873-5703
In: International organization, Band 76, Heft 1, S. 229–250
ISSN: 1531-5088
World Affairs Online
In: International organization, Band 76, Heft 1, S. 229-250
ISSN: 1531-5088
AbstractChina has become a leading source of outward foreign direct investment (FDI), and the Chinese state exercises a unique degree of influence over its firms. We explore the patterns of political influence over FDI using a comprehensive firm-level data set on Chinese outward FDI from 2000 to 2013. Using six country-level measures of affinity for China, we find that state-owned and globally diversified firms appear to conform most closely to official guidance. Official investment directives and state visits link investments to state policies; Taiwan recognition and Dalai Lama meetings anchor our political interpretations; and UN General Assembly voting and temporary UN Security Council membership suggest that this intervention may be systematic. The results are robust to country, year, and sector fixed effects, and most do not hold for private or small firms. The results suggest that China uses FDI by prominent state-owned enterprises as an instrument to promote its foreign policy.
In: British journal of political science, Band 47, Heft 2, S. 329-349
ISSN: 1469-2112
The effect of new International Monetary Fund (IMF) lending announcements on capital markets depends on the lender's political motivations. There are conditions under which lending reduces the risk of a deepening crisis and the risk premium demanded by market actors. Yet the political interests that make lenders willing to lend may weaken the credibility of commitments to reform, and the act of accepting an agreement reveals unfavorable information about the state of the borrower's economy. The net 'catalytic' effect on the price of private borrowing depends on whether these effects dominate the beneficial effects of the liquidity the loan provides. Decomposing the contradictory effects of crisis lending provides an explanation for the discrepant empirical findings in the literature about market reactions. This study tests the implications of the theory by examining how sovereign bond yields are affected by IMF program announcements, loan size, the scope of conditions attached to loans and measures of the geopolitical interests of the United States, a key IMF principal.
In: British journal of political science, S. 1-21
ISSN: 0007-1234
In: International studies quarterly: the journal of the International Studies Association, Band 52, Heft 2, S. 335-362
ISSN: 1468-2478
In: International studies quarterly: the journal of the International Studies Association, Band 52, Heft 2, S. 335-362
ISSN: 0020-8833, 1079-1760
In: American political science review, Band 106, Heft 2, S. 326-347
ISSN: 0003-0554
World Affairs Online