Author
Areendam Chanda
Other affiliations: North Carolina State University
Bio: Areendam Chanda is an academic researcher from Louisiana State University. The author has contributed to research in topics: Financial market & Human capital. The author has an hindex of 17, co-authored 55 publications receiving 4434 citations. Previous affiliations of Areendam Chanda include North Carolina State University.
Papers published on a yearly basis
Papers
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TL;DR: In this article, the authors examine the various links among foreign direct investment (FDI), financial markets, and economic growth, and explore whether countries with better financial systems can exploit FDI more efficiently.
1,747 citations
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TL;DR: In this paper, the authors examine the various links among foreign direct investment (FDI), financial markets, and economic growth and explore whether countries with better financial systems can exploit FDI more efficiently.
Abstract: In this paper, we examine the various links among foreign direct investment (FDI), financial markets, and economic growth We explore whether countries with better financial systems can exploit FDI more efficiently Empirical analysis, using crosscountry data between 1975- 1995, shows that FDI alone plays an ambiguous role in contributing to economic growth However, countries with well-developed financial markets gain significantly from FDI The results are robust to different measures of financial market development, the inclusion of other determinants of economic growth, and consideration of endogeneity
712 citations
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TL;DR: In this article, the authors formalize a mechanism that emphasizes the role of local financial markets in enabling FDI to promote growth through backward linkages, and quantify the response of growth to FDI and show that an increase in the share of FDI leads to higher additional growth in financially developed economies relative to financially under-developed ones.
494 citations
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TL;DR: In this article, an index of the depth of experience with state-level institutions, or state antiquity, is derived for a large set of countries, and it is shown that state antiquity is significantly correlated with measures of political stability and institutional quality, with income per capita, and with the rate of economic growth between 1960 and 1995.
Abstract: In this paper, an index of the depth of experience with state-level institutions, or state antiquity, is derived for a large set of countries. We show that state antiquity is significantly correlated with measures of political stability and institutional quality, with income per capita, and with the rate of economic growth between 1960 and 1995. State antiquity contributes significantly to the explanation of differences in growth rates, explaining half of the differences in growth rates between countries like China and Mauritania, which are located at the two ends of the spectrum. It is also a good instrument for “social infrastructure,” which explains cross-country differences in worker productivity.
400 citations
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TL;DR: In this article, the authors investigate the possibility that differences not only in state capacity but also in the capacity to mount an effective drive toward economic development, derive in part from very long run historical processes giving rise to different potentials for growth.
Abstract: States and markets have sometimes been viewed as competitors, but in the last decade, there has been increasing agreement that a capable state can play an important facilitating role in the process of economic development. A number of studies have explored the empirical connection between measures of political stability and bureaucratic competence, on the one hand, and rates of economic growth, on the other. There is some evidence from these, and also arguments at the case study level, that a stable and competent state is indeed a contributing factor in economic growth. In this short paper, we investigate the possibility that differences not only in state capacity but more broadly, in the capacity to mount an effective drive toward economic development, derive in part from very long run historical processes giving rise to different potentials for growth. We test the idea that more longstanding experience with a national state in the past is associated, in recent times, with (a) greater political stability and better quality government, (b) higher incomes, and (c) faster rates of economic growth.
372 citations
Cited by
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TL;DR: This paper found that foreign equity participation is positively correlated with plant productivity (the "own-plant" effect), but this relationship is only robust for small enterprises and that the gains from foreign investment appear to be entirely captured by joint ventures.
Abstract: Governments often promote inward foreign investment to encourage technology 'spillovers' from foreign to domestic firms. Using panel data on Venezuelan plants, the authors find that foreign equity participation is positively correlated with plant productivity (the 'own-plant' effect), but this relationship is only robust for small enterprises. They then test for spillovers from joint ventures to plants with no foreign investment. Foreign investment negatively affects the productivity of domestically owned plants. The net impact of foreign investment, taking into account these two offsetting effects, is quite small. The gains from foreign investment appear to be entirely captured by joint ventures.
2,799 citations
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TL;DR: This article developed an index of globalization covering its three main dimensions: economic integration, social integration, and political integration, using panel data for 123 countries in 1970-2000 and analyzed empirically whether the overall index and sub-indexes constructed to measure the single dimensions affect economic growth.
Abstract: The study develops an index of globalization covering its three main dimensions: economic integration, social integration, and political integration. Using panel data for 123 countries in 1970–2000 it is analysed empirically whether the overall index of globalization as well as sub-indexes constructed to measure the single dimensions affect economic growth. As the results show, globalization indeed promotes growth. The dimensions most robustly related with growth refer to actual economic flows and restrictions in developed countries. Although less robustly, information flows also promote growth whereas political integration has no effect.
2,208 citations
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TL;DR: A detailed review of the education sector in Australia as in the data provided by the 2006 edition of the OECD's annual publication, 'Education at a Glance' is presented in this paper.
Abstract: A detailed review of the education sector in Australia as in the data provided by the 2006 edition of the OECD's annual publication, 'Education at a Glance' is presented. While the data has shown that in almost all OECD countries educational attainment levels are on the rise, with countries showing impressive gains in university qualifications, it also reveals that a large of share of young people still do not complete secondary school, which remains a baseline for successful entry into the labour market.
2,141 citations
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TL;DR: This article used new statistical techniques and two new databases to reassess the relationship between,,,,, and,,, and, and found that the relation between, and, and,
Abstract: This paper uses new statistical techniques and two new databases to reassess the relationship between ,, , , , () ' −= − + + +
1,395 citations
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01 Jan 2003TL;DR: The recent wave of financial globalization since the mid-1980s has been marked by a surge in capital flows among industrial countries and, more notably, between industrial and developing countries as discussed by the authors.
Abstract: The recent wave of financial globalization since the mid-1980s has been marked by a surge in capital flows among industrial countries and, more notably, between industrial and developing countries. While these capital flows have been associated with high growth rates in some developing countries, a number of countries have experienced periodic collapse in growth rates and significant financial crises over the same period, crises that have exacted a serious toll in terms of macroeconomic and social costs. As a result, an intense debate has emerged in both academic and policy circles on the effects of financial integration for developing economies. But much of the debate has been based on only casual and limited empirical evidence.
1,389 citations