[Home ] [Archive]   [ فارسی ]  
:: year 13, Issue 46 (2-2021) ::
JMBR 2021, 13(46): 767-801 Back to browse issues page
Output Losses Caused from Fluctuation of Foreign Direct Investment and Financial Crises in Emerging Market Countries
Mehdi Yazdani 1, Elmira Daryani1
1- Shahid Beheshti University
Abstract:   (100 Views)
In this study, while the theoretical and empirical backgrounds related to foreign direct investment (FDI) and its fluctuation including Sudden Flood and Sudden Stops have been expressed; the interaction between these phenomena and the deviations of the output from its long-run trend as a proxy for the output losses has been evaluated with emphasizing on financial crises. Also, the role of macroeconomic variables and policies will be considered to reduce these fluctuations and losses. The used econometric model is a simultaneous equations model with a discrete dependent variable in panel data for the selected emerging market countries during 1990-2014. The results have shown the positive and negative effects of sudden flood and sudden stops on the output, respectively. Also, the deviations of the output have had a significant and consistent with theoretical expectations effect on these phenomena and the role of financial crises in each of the equations has been significant. Furthermore, the role of macroeconomic policies is important in this regard and the output losses can be controlled by using active monetary and exchange rate polices.
Full-Text [PDF 1156 kb]   (53 Downloads)    
Type of Study: Empirical Study | Subject: Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook (E6)
Received: 2020/10/30 | Accepted: 2021/06/23 | Published: 2021/09/28
Send email to the article author

Add your comments about this article
Your username or Email:

CAPTCHA


XML   Persian Abstract   Print



Rights and permissions
Creative Commons License This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
year 13, Issue 46 (2-2021) Back to browse issues page
فصلنامه پژوهش‌های پولی-بانکی Journal of Monetary & Banking Research
Persian site map - English site map - Created in 0.04 seconds with 29 queries by YEKTAWEB 4343