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https://hdl.handle.net/2142/85629
Description
Title
Essays in Foreign Investment
Author(s)
Asiedu, Elizabeth
Issue Date
1998
Doctoral Committee Chair(s)
Villamil, Anne P.
Department of Study
Economics
Discipline
Economics
Degree Granting Institution
University of Illinois at Urbana-Champaign
Degree Name
Ph.D.
Degree Level
Dissertation
Keyword(s)
Economics, General
Language
eng
Abstract
"The last essay presents a framework for analyzing indirect foreign investment flows when enforcement of private contracts is inadequate. We analyze conditions under which investment decisions are affected by a repayment incentive constraint, and study when ""under investment"" occurs. The optimal investment level is shown to be affected by changes in (i) the discount factor, (ii) the size of the domestic capital stock, and (iii) the world interest rate. We consider two policies that are frequently used by multilateral organizations: technical assistance and loan subsidies. We show that these policies improve welfare and provide a rationale for the operation of organizations such as the World Bank in conjunction with private markets."
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