Institutional Permeability and Cross-Border Transmission: Evidence from Uzbekistan’s 2017 Liberalization
by Aaron Williams Lam Abstract While standard diffusion frameworks predict that liberalizing reforms generate positive spillovers in geographically proximate regions, borders are not frictionless membranes. Even observable connectivity may fail to translate into cross-border economic co-movement when institutional frictions govern whether interaction activates transmission. Using Uzbekistan’s 2017 exchange-rate unification as a natural experiment, this paper […]
How Foreign Direct Investment Impacts Domestic Productivity: The Case of Vietnam
by Minh Phuong Nguyen Hoang Abstract Foreign direct investment (FDI) has long been known as a vital driver of economic growth in many developing countries by providing capital boosts, generating employment, and introducing advanced technology. This paper focuses on a more long-term economic impact of FDI — the productivity spillover effect — in the specific […]
Monetary Unions and Long-Run Growth
By Levi Crews This paper develops two complementary models of monetary unions and long-run growth. The key result is that a reduction in foreign exchange costs via monetary unication provides a positive growth effect for member nations. This growth effect may come through increased knowledge spillovers in the deterministic model or through the migration of […]
