While the existing literature suggests political liberalization enhances the freedom of foreign direct investment （FDI）, the observation that some countries with more liberal political regimes have more restrictive ...While the existing literature suggests political liberalization enhances the freedom of foreign direct investment （FDI）, the observation that some countries with more liberal political regimes have more restrictive policies toward direct investment than others remains unexplained. With a theoretical model of plural political competition and empirical evidences gathered from panel data, I argue that the liberalizing effect of political liberty on foreign direct investment hinges on the local factor endowment of the country experiencing democratization. I develop a theory of investment policy formation that takes into account the strategic response from domestic societal actors to redistribution of political power and its impact on FDI liberalization. Consistent with the theoretical prediction, the empirical results show political liberalization is more likely to lead to liberalization of foreign direct investment when the capital-labor ratio in the economy is relatively low.展开更多
We study the determinants of China ＇s bilateral local currency swap lines that were established following the recent global finance crisis. It is found that economic factors, political considerations and institutiona...We study the determinants of China ＇s bilateral local currency swap lines that were established following the recent global finance crisis. It is found that economic factors, political considerations and institutional characteristics, including trade intensity, economic size, strategic partnership, free trade agreements, corruption and stability, affect the decision to sign a swap line agreement. Once a swap line agreement decision is made, the size of the swap line is then mainly affected by trade intensity, economic size and the presence of a free trade agreement. The results are quite robust with respect to the choices of the Heckman two-stage framework or the proportional hazard model. The gravity effect captured by distances between China and its counterparts, if present, is mainly observed during the early part of the sample period under consideration.展开更多
1 Introduction Quality of life is influenced by health, education, environment, fairness and respect of public benefits by main stake holders of each country. A pre-summit policy roundtable report of the European Co...1 Introduction Quality of life is influenced by health, education, environment, fairness and respect of public benefits by main stake holders of each country. A pre-summit policy roundtable report of the European Congress for Integrative Medicine （ECIM） 2015 Global Summit on Integrative Medicine and Healthcare held on September 26-27, 2015 in Greater Copenhagen, declared a call for strategic policies in support of integrated health care that would include a vision for setting up ＂an integrative medicine （IM） department in at least one hospital in every European country.＂展开更多
文摘While the existing literature suggests political liberalization enhances the freedom of foreign direct investment （FDI）, the observation that some countries with more liberal political regimes have more restrictive policies toward direct investment than others remains unexplained. With a theoretical model of plural political competition and empirical evidences gathered from panel data, I argue that the liberalizing effect of political liberty on foreign direct investment hinges on the local factor endowment of the country experiencing democratization. I develop a theory of investment policy formation that takes into account the strategic response from domestic societal actors to redistribution of political power and its impact on FDI liberalization. Consistent with the theoretical prediction, the empirical results show political liberalization is more likely to lead to liberalization of foreign direct investment when the capital-labor ratio in the economy is relatively low.
文摘We study the determinants of China ＇s bilateral local currency swap lines that were established following the recent global finance crisis. It is found that economic factors, political considerations and institutional characteristics, including trade intensity, economic size, strategic partnership, free trade agreements, corruption and stability, affect the decision to sign a swap line agreement. Once a swap line agreement decision is made, the size of the swap line is then mainly affected by trade intensity, economic size and the presence of a free trade agreement. The results are quite robust with respect to the choices of the Heckman two-stage framework or the proportional hazard model. The gravity effect captured by distances between China and its counterparts, if present, is mainly observed during the early part of the sample period under consideration.
文摘1 Introduction Quality of life is influenced by health, education, environment, fairness and respect of public benefits by main stake holders of each country. A pre-summit policy roundtable report of the European Congress for Integrative Medicine （ECIM） 2015 Global Summit on Integrative Medicine and Healthcare held on September 26-27, 2015 in Greater Copenhagen, declared a call for strategic policies in support of integrated health care that would include a vision for setting up ＂an integrative medicine （IM） department in at least one hospital in every European country.＂
