Financial Frictions and Foreign Direct Investment: Evidence from Japanese Microdata

5th April 2018
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Authors: Horst Raff, Michael Ryan and Frank Stähler (Journal of International Economics, 2018, Vol. 112, 109-122)

Using Japanese microdata for the period 1980 to 2000 we find evidence for two transmission channels from financial shocks to foreign direct investment: a collateral channel, whereby changes in the value of investors’ landholdings affect their borrowing ability; and a lending channel[…]

Science Jazz in New Orleans! KCG Researchers Joined 2018 AMA Winter Academic Conference in New Orleans, USA

22nd March 2018
KCG Secretary
News
News
KCG Researchers, Nils Christian Hoffmann, Prof. Dr. Stefan Hoffmann, and Guli-Sanam Karimova, participated in the 2018 AMA Winter Academic Conference from February 23rd to 25th 2018 in New Orleans, Louisiana (USA). There they presented their first scientific results from the KCG project “Cross-cultural differences in the perception of corporate social responsibility and consumer social responsibility along global supply chains”[…]

KCG Working Paper No. 10: Financial Frictions and Foreign Direct Investment: Evidence from Japanese Microdata

16th March 2018
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Publications
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Authors: Horst Raff, Michael Ryan and Frank Stähler

Using Japanese microdata for the period 1980 to 2000 we find evidence for two transmission channels from financial shocks to foreign direct investment: a collateral channel, whereby changes in the value of investors’ landholdings affect their borrowing ability; and a lending channel, whereby changes in bank health affect banks’ lending ability. Decreasing land values[…]

FAZ Article on Corporate Morality and Manager Behaviour by Ludger Heidbrink

15th March 2018
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Publications
Publications
Business ethics has been a widely discussed topic for years. The need for further research to gain more insights into this area has been enhanced particularly against the background with more and more business scandals emerged in the real life like VW’s software manipulation in diesel powered vehicles and diesel emissions tests on monkeys and humans[…]

Holger Görg Gave an Interview on US New Tariffs on Steel and Aluminium Imports

13th March 2018
KCG Secretary
Public Contributions
Public Contributions
US President Donald Trump signed a proclamation authorising new tariffs on US steel and aluminium imports on March 8, 2018. Following his plan, foreign steel and aluminium products sold to the US are going to face a tariff of 25% and a tariff of 10% in the future, respectively. Steel and aluminium products from Canada and Mexico will be excluded from this new tariff plan. Whether further countries will be placed on the exclusion list, is still an open question. Shortly before Trump’s order, Prof. Holger Görg Ph.D., Managing Director of the Kiel Centre for Globalization[…]

A New KCG Working Paper on Firm Markups and International Trade is Now Online

8th March 2018
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News
Firms involved in international trade are larger, more productive and pay higher wages than non-trading firms, as ample evidence from the economics literature shows. The paper “Markups of Exporters and Importers: Evidence for Hungary” (forthcoming in The Scandinavian Journal of Economics) by Cecilia Hornok from the Kiel Centre for Globalization and Balázs Muraközy from the Hungarian Academy of Sciences investigates the less well-documented relationship between international trade and firms’ markup over marginal cost[…]

KCG Working Paper No. 9: Markups of Exporters and Importers: Evidence from Hungary

8th March 2018
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Publications
Publications
Authors: Cecilia Hornok and Balázs Muraközy

This paper studies the relationship between firm-level markups and trade status using balance sheet information linked to detailed trade data from Hungary between 1995-2003. We find that importing is strongly positively correlated with markups both across and within firms. We argue that this correlation can reflect three channels: self-selection, higher physical productivity resulting from access to a larger variety of inputs and quality upgrading based on high-quality imported intermediate inputs[…]

KCG Seminar by Joschka Wanner on International Trade, Climate Policy, and Carbon Leakage

6th March 2018
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News
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The next KCG Research Seminar will be given by Joschka Wanner, Research Fellow at the University of Bayreuth, on March 12, 2018 (Monday) at the Kiel Institute for the World Economy. His presentation is based on one of his current papers “International Trade, Uni- and Multilateral Climate Policy, and Carbon Leakage”. This paper aims at investigating the international effects of different climate policies on trade, welfare and carbon emissions. A gravity model is developed for this purpose and is used as base for an empirical analysis. This paper deals with a topic related to the KCG project “Global Supply Chains, Environmental Regulation and Green Innovation[…]

KCG Research Seminar by Aoife Hanley on Global Value Chains and the Relevance of Honesty in a Post Block-Chain World

1st March 2018
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News
The fourth KCG Research Seminar will take place in the Lecture Hall at the Kiel Institute for the World Economy on March 6, 2018 (Tuesday). Prof. Aoife Hanley, Ph.D., Co-head of the KCG Project “Global Supply Chains, Environmental Regulation and Green Innovation” will give a presentation based on her research paper “Global Value Chains: Should Honesty (not Hypocrisy) Pay in a Post Block-Chain World?”, co-authored with Prof. Holger Görg, Ph.D. (CAU Kiel, IfW and KCG) and Dr. Adnan Seric (KCG and UNIDO)[…]