Shang-Jin Wei’s research while affiliated with Columbia University and other places

... Financial development in the form of ease of access to credit facilities by potential investors also determines the level of FDI that SSA economies attract. Thus, the findings of Desbordes and Wei (2014) that financial development is a growth catalyst are confirmed. The depth of international trade in SSA is also a robust determinant of foreign capital movement (Okafor et al., 2015). ...

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Ease of Doing Business and Foreign Direct Investment: Case of Sub-Saharan Africa

... Es relevante señalar que la literatura sobre la inserción de México y sus actividades productivas en las cgv es amplia y, por ello, es importante distinguir al menos dos vertientes: una dedicada a rastrear el origen del valor agregado incorporado en las exportaciones y otra enfocada a estudios de caso de cgv específicas. Para la primera, desde el trabajo de Cruz, Koopman, Wang y Wei (2011) se ha aprovechado la disponibilidad de tablas o matrices de insumo-producto oficiales o publicadas por el Instituto Nacional de Estadística y Geografía (inegi) a partir de 2003, o internacionales de distintas fuentes para estimar el valor agregado externo en las exportaciones mexicanas. En cuanto a la segunda vertiente, existen numerosos estudios enfocados en el examen de cgv específicas con información detallada al respecto, pero que frecuentemente dedican menos espacio al contexto global. ...

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Integración productiva y comercial de México en las cadenas globales de valor

... By studying the keyword search trends on the Baidu index, researchers can gain insight into the interests and attitudes of internet users. There is a growing number of studies that use the Baidu index for a variety of research purposes (Fan et al., 2022;Kearney & Levine, 2015;Madestam et al., 2013;Qin & Zhu, 2018;Stephens-Davidowitz, 2014). For example, Qin and Zhu (2018) use the Baidu index for "emigration" to measure people' intention to emigrate. ...

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An empirical study of trade effect on culture

... 2 The "missing pioneers" problem occurs when access to external markets is too costly for the first mover but, once one firm enters the new market, access to other firms becomes less costly. This externality seems to be significant for small economies but not for large ones (Wei et al., 2021). ...

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A Bitter Aftertaste

... Between 6 March and 18 March 2020, the index fell by almost 15% [6]. Government interventions, such as the implementation of the Coronavirus Aid, Relief, and Economic Security (CARES) Act in the U.S., helped stabilize financial markets and the economy [7,8]. In Latin America, countries usually tend to lack the financial resources that might help lessen the impacts of the pandemic on financial markets and their economies, which can lead to further reductions in capital investments and economic growth [9,10]. ...

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Time-Varying Granger Causality of COVID-19 News on Emerging Financial Markets: The Latin American Case

... Earlier works in the 2000s, such as Burger andWarnock (2003, 2006), empirically showed that foreign investor participation in EME capital markets is positively associated with better institutional quality and lower inflation. Chang and Wei (2020) argued that countries with better institutional quality can attract more equity investments into the countries. Ottonello and Perez (2019) suggested that better management of domestic inflation, such as inflation targeting, might be behind the surge of foreign investment in local currency sovereign debt. ...

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Original Sin Dissipation and Currency Exposures in Emerging Markets

... In our calculation, we assume that the life span of those who passed away before age 5 had a life span of 2 years and those who passed away between the ages of 6 and 14 had a life span of 9. Given the death rate for those who passed away under age 5 x, and the death rate for those passed away between the ages of 6 and 14 y, and assume the life span of those born at a particular year to be l, then the life span of those who survived to age 15, z, is the solution to 2*x+9*(1-x)*y+(1-x)*(1-y)*z=1. 5 ...

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Working paper

... From the empirical point of view, research has long been at odds with the measurement of functions. Let alone the approaches based on the detailed qualitative case studies concerning the GVC of specific products or industries (e.g., Dedrick et al., 2010), standard input-output based measures of the international fragmentation of production (Johnson & Noguera, 2012;Koopman et al., 2014;Timmer et al., 2014) do help identify the foreign input contents of exports in a given sector, but fail to capture what value-adding activities are carried out in that sector (de Vries et al., 2021). ...

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How fragile are European GVCs? The role of functional diversification and implications for industrial policy

... In addition, this empirical pattern is consistent with the smile curve hypothesis, which predicts that the gains are evenly distributed across the vertically specialized production chain. In this vein, Timmer et al. (2014) or Meng et al. (2020) show that the gains from the GVC participation are the highest for firms that are either at the beginning of the production process (e.g. R&D, design) or very close to the final use (e.g. ...

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Unravelling the Markups Changes: The Role of Price Elasticity of Demand and Concentration

... Enterprise managers may abuse freer cash flow for overinvestment, leading to more inefficient investments [6,7]. Other studies have shown that the financing reform was valuable in promoting efficient enterprises' investment during the financial crisis [8][9][10][11], which can better remedy market failures and compensate for inefficient market allocation [12,13]. Financing reform can better ensure reform in enterprises' investment and economic growth faced with economic recession and external shocks, which may result in a national fiscal deficit in the short term, but improve the output of enterprises and employment in the medium term and generate a huge fiscal surplus in the long run [14]. ...

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A Stochastic Approach Analysing Enterprises’ Investment following Financing Reform in China