investment
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When firms act like banks: Carry trades and currency risk management in emerging markets
Short-term foreign currency borrowing is largely used for carry trade-like activities rather than financing productive investment, underscoring the need to focus on debt maturity and firm heterogeneity when designing policies to manage financial risk...
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Investment networks, capital accumulation, and sectoral productivity: Explaining global income gaps
Cross-country measures of investment networks reveal how the structure of capital flows across sectors shifts systematically with development. This accounts for around one-third of global income disparities, with the payoff of policies shifting secto...
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Implementing industrial policy effectively: Lessons from shipbuilding in China
Industrial policy in China aimed to make the country’s shipbuilding industry a world leader. Comprehensive data on shipyards worldwide reveals the huge scale of this policy, which boosted China's domestic investment, entry, and world market share dra...
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The investment returns to infrastructure provision
High-speed internet connectivity in Africa increased FDI into the services sector with the technology, finance, retail and health service subsectors the main beneficiaries
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How lumpy investments determine the effect of expanding financial services: Evidence from Uganda
Grants and finance can alleviate poverty traps associated with lumpy investments, but the impact on development depends on the supply of investment goods
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The impact of multiple savings accounts on microentrepreneurs in Malawi
Improving access to saving tools helps urban Malawian microentrepreneurs save and adjust labour supply decisions
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Is mobile money changing the rural landscape? Evidence from Mozambique
The introduction of mobile money promoted migration out of rural areas by easing long-distance transfers and increasing resilience
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International tax avoidance and development
Corporate taxation is at the heart of economic development, and cardiac failure looms if international tax reform is not made globally inclusive
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China’s 2009 VAT reform and lumpy investment behaviour
Tax policies that reduce firm inaction are more effective at stimulating investment than policies that simply lower the cost of investment