38,522 research outputs found

    (2) Sample Syllabus: Econ 4060

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    FDI and human capital in the USA: is FDI in different industries created equal?

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    We use data in the USA to study the effect of inward Foreign Direct Investment (FDI) in different sectors/industries on the state-level human capital, measured by the average years of tertiary schooling. We find that inward manufacturing FDI tends to lower the tertiary schooling in a host state while information FDI increases the tertiary schooling in a host state

    Manufacturing FDI and Economic Growth: Evidence from Asian Economies

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    Previous empirical studies on inward foreign direct investment (FDI) and economic growth generate mixed results. This article suggests that the ambiguous results might be caused by the use of total FDI. We study the heterogeneous effects of different sector-level FDI inflows on host country’s economic growth. Data from 12 Asian economies over the period of 1987 to 1997 are employed. Strong evidence shows that FDI in manufacturing sector has a significant and positive effect on economic growth in the host economies. FDI inflows in nonmanufacturing sectors do not play a significant role in enhancing economic growth. Furthermore, without the decomposition of total FDI inflows, the effect of manufacturing FDI on host country’s economic growth is understated by at least 48%

    Foreign Direct Investment and Domestic Investment in the Host Country: Evidence from Panel Study

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    This article examines the impact of inward Foreign Direct Investment (FDI) on host countries’ domestic investment. Utilizing data from 50 countries over the period of 1970 to 2004, we find that inward FDI has a negative contemporaneous effect on domestic investment, while the cumulative effect of FDI over time tends to be positive. In addition, we separately study FDI in Developed Countries (DCs) and Less Developed Countries (LDCs). The effect of contemporaneous FDI on domestic investment is negative in DCs, and the cumulative effect of FDI is neutral. Strong evidence suggests that the contemporaneous effect of FDI on domestic investment is neutral in LDCs, while the cumulative effect of FDI is positive

    Inflation with High Derivative Couplings

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    We study a class of generalized inflation models in which the inflaton is coupled to the Ricci scalar by a general f(ϕ,R)f(\phi, R) term. The scalar power spectrum, the spectral index, the running of the spectral index, the tensor mode spectrum and a new consistency relation of the model are calculated. We discuss in detail the issues of how to diagonize the coupled perturbation equations, how to deal with an entropy-like source, and how to determine the initial condition by quantization. By studying some explicit models, we find that rich phenomena such as a blue scalar power spectrum, a large running of the spectral index, and a blue tensor mode spectrum can be obtained.Comment: 26 pages, LaTeX; v2: refs. added; refs. correcte

    General Single Field Inflation with Large Positive Non-Gaussianity

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    Recent analysis of the WMAP three year data suggests fNLlocal86.8f_{NL}^{local}\simeq86.8 in the WMAP convention. It is necessary to make sure whether general single field inflation can produce a large positive fNLf_{NL} before turning to other scenarios. We give some examples to generate a large positive fNLequilf_{NL}^{equil} in general single field inflation. Our models are different from ghost inflation. Due to the appearance of non-conventional kinetic terms, fNLequil1f_{NL}^{equil}\gg1 can be realized in single field inflation.Comment: 27 pages, 3 figure; final version published in JCA