Trade Liberalization and the Profitability of Domestic Mergers.

It is often thought that a tariff reduction, by opening up the domestic market to foreign firms, should lessen the need for a policy aimed at discouraging domestic mergers. This implicitly assumes that the tariff in question is sufficiently high to prevent foreign firms from selling in the domestic market. However, not all tariffs are prohibitive, so that foreign firms may be present in the domestic market before it is abolished. Furthermore, even if the tariff is prohibitive, a merger of domestic firms may render it nonprohibitive, thus inviting foreign firms to penetrate the domestic market. In this paper, we show, using a simple example, that in the latter two cases, abolishing the tariff may in fact make the domestic merger more profitable. Hence, trade liberalization will not necessarily reduce the profitability of domestic mergers.

How transnational environmental advocacy networks socialize international financial institutions: a case study of the international finance corporation

Environmental organizations, characterized here as transnational advocacy networks, use various strategies to "green" international financial institutions (IFIs). This article goes beyond analyzing network strategies to examine how transnational advocacy networks reconstitute the identity of IFIs. This, it is argued, results from processes of socialization: social influence, persuasion and coercion by lobbying. A case study of the International Finance Corporation (IFC), as a member of the World Bank Group, is used to analyze how an IFI internalized sustainable development norms. The IFC finances private enterprise in developing countries by providing venture capital for private projects. Transnational advocacy networks socialized the IFC through influencing its projects, policies and institutions via direct and indirect interactions to the point where the organization now sees itself as a sustainable development financier. This article applies constructivist insights to the greening process in order to demonstrate how socialization can reshape an IFI's identity.

Essays on international finance, default and inflation

This thesis is composed by three papers, each one of them corresponding to one chapter. The first and the second chapters are essays on international finance appraising default and inflation as equilibrium outcomes for crisis time, in particular, for confidence crisis time that leads to speculative attack on the external public debt issued by emerging economies. With this background in mind, welfare effects from adopting common currency (chapter 1) and welfare effects from increasing the degree of economic openness (chapter 2) are analyzed in numerical exercises, based on DSGE framework. Cross-countries results obtained are then presented to be compared with empirical evidence and to help on understanding past policy decisions. Some policy prescriptions are also suggested. In the third chapter we look to the inflation targeting regime applied to emerging economies that are subject to adverse shocks, like the external debt crisis presented in the previous chapters. Based on a more theoretical approach, we appraise how pre commitment framework should be used to coordinate expectations when policymaker announcement has no full credibility and self fulfilling inflation may be possible.

Exchange rate: fix, float, or manage it?

The Exchange Rate is the Most Strategic of the Four Macroeconomic Prices. it Determines not Only Exports and Imports, But Also Real Wages, Consumption and the Savings Rate. Conventional Theory Holds That it is Impossible to Manage It, and That the Only Alternatives are to Fix or to Float It. the Experience of the East Asian Countries, That Use it Strategically, Demonstrates That This Claim is False.

International finance and Caribbean development

Includes bibliography

International finance and development: opportunity or threat?

Includes bibliography

Articles of agreement of the International Finance Corporation, between the United States of America and other governments : open for signature at the International Bank for Reconstruction and Development, Washington, signed on behalf of the United States of America December 5, 1955.

Mode of access: Internet.

An analysis of an evaluation of the International Farm Youth Exchange, 1952 : made through the use of "before" and "after" tests given the young men and women /

Mode of access: Internet.

International finance : market access concerns of U.S. financial institutions in Japan : briefing report to Congressional requesters /

"GAO/NSIAD-88-108R."

The management of foreign exchange exposure on business contracts overseas

This thesis is a piece of applied research. It is the result of a joint project between the University of Aston Interdisciplinary Higher Degrees Scheme and International Aeradio plc (IAL). It considers the structure and organisation of overseas business and the effects that exchange rate movements have on financial performance. It looks in detail at a series of overseas contracts and factors which affect the monitoring and performance of those contracts. From this initial research is developed a series of conceptual models which attempt to capture the effects of foreign exchange rate movements on contract costing, the monitoring of performance on overseas contracts and a measure of company wide exposure. These models are then considered in the context of real IAL generated data and circumstances. The work is finally considered in the context of a survey of other companies with a similar mode of undertaking overseas business with the aim of placing the work in a general context.

Global electrification:multinational enterprise and international finance in the history of light and power, 1878-2007

William J. Hausman, Peter Hertner, and Mira Wilkins. Global Electrification: Multinational Enterprise and International Finance in the History of Light and Power, 1878–2007. New York: Cambridge University Press, 2008. xxiv + 487 pp. ISBN 978-0-521-88035-0, $80 (hardcover).