search query: @author Choi, Y. / total: 10
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| Author: | Choi, Y. Esfahani, H. |
| Title: | Direct foreign investment and expropriation incentives: a mitigating role for match-specific capital |
| Journal: | Quarterly Review of Economics and Finance
1998 : SPRING, VOL. 38:1, p. 47-60 |
| Index terms: | ECONOMICS FINANCE INVESTMENT |
| Language: | eng |
| Abstract: | This paper develops a model of direct foreign investment (DFI) in a country where the government cannot commit itself (through institutions or reputational concerns) to refraining from implicit expropriation of sunk investments by transnational enterprises (TNEs). In this situation, when the government lacks the necessary resources to finance the sunk costs of investment, DFI may be possible if there exist contracts under which the investing TNE ends up with a necessary amount of surplus to cover sunk investment. |
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