主题：Financing Multinationals

演讲人: Dr. Wenlan LUO, Assistant Professor of Economics, School of Economics and Management, Tsinghua University

时间：2018年4月12日 10:00-11:30

地点：中欧平台武东路校区大楼 114室

演讲内容简介：This paper develops a quantitative framework to study the determinants and welfare implications of MNCs, considering jointly the transfer of technological capital and financial capital. The framework integrates two main ingredients: capital accumulation under financial constraint in dynamic models (Moll 2014), and cross-country entry decisions in static studies of multinationals (Arkolakis et al. 2015). We calibrate the model to an economy with 25 major developed and developing countries. We perform counterfactual experiments to understand: 1) the importance of financial development in driving the FDI patterns; 2) the transitional dynamics after financial reforms; 3) the interaction between welfare gains from openness to MNCs and domestic financial institution.

演讲人简介：Professor Wenlan LUO is Assistant Professor of Economics at School of Economics and Management, Tsinghua University. Wenlan obtained his PhD in Economics from Georgetown University. His main research interests consist of Financial Economics, Macroeconomics, and Computation Economics. His research has been published in Review of Economic Dynamics, and Journal of Economic and Dynamic Control.

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