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  • 1
    Publication Date: 2016-06-19
    Description: Which foreign direct investments are most affected by political instability? Analysis of quarterly greenfield investment flows into countries in the Middle East and North Africa during the period from 2003 to 2012 shows that adverse political shocks are associated with significantly reduced investment inflows in the non-resource tradable sectors. By contrast, investments in natural resource sectors and non-tradable activities appear insensitive to such shocks. Political instability is thus associated with increased reliance on non-tradables and aggravated resource dependence.
    Keywords: F21 - International Investment ; Long-Term Capital Movements, F23 - Multinational Firms ; International Business, O13 - Agriculture ; Natural Resources ; Energy ; Environment ; Other Primary Products, O16 - Economic Development: Financial Markets ; Saving and Capital Investment ; Corporate Finance and, P48 - Political Economy ; Legal Institutions ; Property Rights
    Print ISSN: 0258-6770
    Electronic ISSN: 1564-698X
    Topics: Economics
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  • 2
    Publication Date: 2016-01-19
    Description: During Vietnam's two decades of rapid economic growth, its fertility rate has fallen sharply at the same time that its educational attainment has risen rapidly—macro trends that are consistent with the hypothesis of a quantity-quality tradeoff in child-rearing. We investigate whether the micro-level evidence supports the hypothesis that Vietnamese parents are in fact making a tradeoff between quantity and "quality" of children. We present private tutoring—a widespread education phenomenon in Vietnam—as a new measure of household investment in children's quality, combining it with traditional measures of household education investments. To assess the quantity-quality tradeoff, we instrument for family size using the commune distance to the nearest family planning center. Our IV estimation results based on data from the Vietnam Household Living Standards Surveys (VHLSSs) and other sources show that rural families do indeed invest less in the education of school-age children who have larger numbers of siblings. This effect holds for several different indicators of educational investment and is robust to different definitions of family size, identification strategies, and model specifications that control for community characteristics as well as the distance to the city center. Finally, our estimation results suggest that private tutoring may be a better measure of quality-oriented household investments in education than traditional measures like enrollment, which are arguably less nuanced and less household-driven.
    Keywords: I22 - Educational Finance, I28 - Government Policy, J13 - Fertility ; Family Planning ; Child Care ; Children ; Youth, O15 - Human Resources ; Human Development ; Income Distribution ; Migration, O53 - Asia including Middle East, P36 - Socialist Institutions and Their Transitions: Consumer Economics ; Health, Education and Traini
    Print ISSN: 0258-6770
    Electronic ISSN: 1564-698X
    Topics: Economics
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  • 3
    Publication Date: 2015-05-21
    Description: We review evidence regarding the size and evolution of the "land rush" in the wake of the 2007–8 boom in agricultural commodity prices, and we study the determinants of foreign land acquisition for large-scale agricultural investment. The use of data on bilateral investment relationships to estimate gravity models of transnational land-intensive investments confirms the central role of agro-ecological potential as a pull factor. However, this finding contrasts the standard literature insofar as the quality of the destination country's business climate is insignificant, and weak tenure security is associated with increased interest for investors to acquire land in the country. Policy implications are discussed.
    Keywords: F21 - International Investment ; Long-Term Capital Movements, O13 - Agriculture ; Natural Resources ; Energy ; Environment ; Other Primary Products, Q15 - Land Ownership and Tenure ; Land Reform ; Land Use ; Irrigation, Q34 - Natural Resources and Domestic and International Conflicts
    Print ISSN: 0258-6770
    Electronic ISSN: 1564-698X
    Topics: Economics
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  • 4
    Publication Date: 2014-10-01
    Description: Why is the urban–rural gap in child malnutrition increasing in Peru despite government efforts to improve the provision of public services? To answer this question, the impact of regional public expenditure in Peru on young children's nutritional outcomes is examined. To account for policy endogeneity, public expenditures are instrumented using unanticipated regional mining revenues. Even after accounting for changes in expenditure composition due to increases in mining revenues, public spending has a significant and positive impact on children's outcomes only in urban areas. However, even in urban areas, barriers exist that diminish the effectiveness of public expenditure, so indigenous and frailer children in these areas do not benefit from public spending. These children face constraints that limit their ability to use public services. This result reveals the paramount importance of initial conditions. In rural areas, possibly because of the lower quantity and quality of public services, there is no positive effect for any children.
    Keywords: D13 - Household Production and Intrahousehold Allocation, H51 - Government Expenditures and Health, I12 - Health Production, J13 - Fertility ; Family Planning ; Child Care ; Children ; Youth
    Print ISSN: 0258-6770
    Electronic ISSN: 1564-698X
    Topics: Economics
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