This paper explores the impact of the emergence of China and India on foreign capital stocks in other economies. Using bilateral data from 1990-2003 and drawing from the knowledge-capital model of the multinational enterprises to control for fundamental determinants of foreign capital stocks across countries, the evidence suggests that the impact of foreign capital in China and India on other countries' foreign capital stocks has been positive. This...
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2007/09/01
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Documento de trabalho sobre pesquisa de políticas
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WPS4361
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1
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1
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2010/07/01
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Disclosed
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Substitution between foreign capital in China, India, the rest of the world, and Latin America : much ado about nothing ?
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board of governors of the federal reserve system
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