Domestic Institutions and the Bypass Effect of Financial Globalization

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Policy Uncertainty, Irreversibility, and Cross-Border Flows of Capital (2013, unknown): “Changes in the real exchange rate affect the relative wealth levels of foreign and domestic investors and may lead to changes in investors’ actual relative purchasing power (Froot and Stein (1991) and Klein and Rosengren (1994)).”
The Effects of Financial Development on Foreign Direct Investment (2014, unknown): “While a positive access to external finance effect is still likely to exist, several channels have been identified through which higher destination countries’ financial development (DFD) could reduce FDI (Antras et al., 2009; Ju and Wei, 2010; Bilir et al., 2013).”
International Trade, Multinational Activity, and Corporate Finance (2015, unknown): “2 See also Ju and Wei (2011).”
Firm Exports and Multinational Activity Under Credit Constraints (2011, unknown): “This offers concrete empirical support for the theoretical notion that openness to FDI allows countries to partially bypass the constraints of weak local financial institutions (Ju and Wei 2010).”
A Faith-Based Initiative Meets the Evidence: Does a Flexible Exchange Rate Regime Really Facilitate Current Account Adjustment? (2013, background): “If one models financial frictions differently, Ju and Wei (2010) argue that the current account patterns become less clear-cut.”