[FIW_Logo_de_en] Please scroll down for the English version Sehr geehrte Damen und Herren wir freuen uns, Sie über die neuesten Entwicklungen des FIW-Projekts informieren zu dürfen. Dieses Mal mit folgendem Inhalt: · Einladung zur 18. AW-Vorlesung am 30.10. 2015 · Neue FIW Working Paper veröffentlicht Einladung zur 18. AW-Vorlesung am 30.10. 2015 E I N L A D U N G 18. AW-Vorlesung Freitag, 30. Oktober 2015 Prof. Gabriel Felbermayr, Ph.D. (IFO, LMU); Univ.-Prof. Dr. Harald Oberhofer (WU/WIFO) "20 Jahre Österreich in der EU − Handelseffekte, Herausforderungen und Optionen" Begrüßung: Sektionschefin Mag. Bernadette Gierlinger (BMWFW) Kommentare: Univ.-Prof. Mag. Dr. Fritz Breuss (FIW, WIFO, WU) Diskussionsleitung: Dr. Manfred Schekulin (BMWFW) Literatur: Studie "20 Jahre Österreich in der Europäischen Union – Herausforderungen und Optionen für die Zukunft"; Gabriel Felbermayr (ifo & LMU München); Wilhelm Kohler (IAW & Universität Tübingen) et al.; Wien; August 2015; FIW-Policy Brief Nr. 28 (Oktober 2015) Zeit: 9:15 Uhr (pünktlich) bis 10:30 Uhr Ort: Wirtschaftsministerium, Stubenring 1, 1010 Wien, 5. Stock, Pressezentrum AW-Vorlesungen ist eine Veranstaltungsreihe, bei der politikrelevante aktuelle Forschungsergebnisse aus dem Bereich internationale Wirtschaft praxisnah präsentiert und diskutiert werden. Für Kaffee ist gesorgt …. Anmeldung erforderlich unter: http://www.fiw.ac.at/index.php?id=833#13769 Neue FIW Working Paper veröffentlicht Die FIW Working Papers Nr. 159 & Nr. 16ß wurden veröffentlicht und stehenzum freien Download zur Verfügung: http://www.fiw.ac.at/index.php?id=797&L=0 FIW Working Paper Nr. 158, Izabela Sobiech: „Remittances, finance and growth: does financial development foster remittances and their impact on economic growth” Abstract: In this paper, I measure the importance of remittances and financial development for developing countries. I estimate an index of overall financial conditions and use it to determine the relevance of the financial sector as a transmission channel for remittances to affect economic growth. The index brings together information from existing measures, reflecting size, depth and efficiency of the financial sector. It is created by means of an unobserved components model. I show that the more financial development in a country, the smaller becomes the impact of remittances on economic growth and it can even turn negative. For countries with weaker financial markets there is a positive effect, but significant only at the earliest stages of financial development. The effect becomes negative in the third quartile of financial development. These results hold irrespective of the measure of financial development included, but are most profound in case of the created index. This means that estimates based on proxies might be slightly biased. I also show that countries with both low levels of remittances and financial development should first focus on developing the latter, while migrants' transfers become important for growth if the country has a moderate level of financial development. JEL: F24, O11, O15 and O16 Keywords: remittances, economic growth, financial development, unobserved components model, dynamic panel data analysis FIW Working Paper Nr. 159, Veronika Hecht: „Location choice of German multinationals in the Czech Republic. The importance of agglomeration economies” Abstract: This paper analyses the location choice of German investors in the Czech Republic based on a unique dataset covering all Czech companies with a German equity holder in 2010. The identification of the regional determinants of foreign direct investment (FDI) location is an important regional policy issue as FDI is supposed to improve the labour market conditions of the host region. Using a nested logit approach the impact of agglomeration economies, labour market conditions and distance on the location choice decision is investigated. The main result of the paper is that apart from a low distance to the location of the parent company the attractiveness of a Czech district for German investors is mainly driven by agglomeration economies. Besides localisation economies the agglomeration of German companies in a region plays a decisive role. The importance of labour market characteristics differs between investment sectors, sizes and periods. JEL: F24, R12, R30 Keywords: Location choice, FDI, Multinational enterprises, Germany, Czech Republic, Agglomeration Economies Mit freundlichen Grüßen Alexander Hudetz (FIW – Projektbüro) Es entspricht nicht unserer Philosophie Ihnen unerwünschte E-Mails zukommen zu lassen. Falls Sie keine weiteren E-Mails vom FIW erhalten möchten, schreiben Sie bitte an das Projektbüro<mailto:fiw-pb@fiw.at> mit dem Betreff "Abmelden". __________________________________ Das Kompetenzzentrum FIW (http://www.fiw.ac.at/) ist ein Projekt von WIFO, wiiw und WSR im Auftrag des BMWFW. Die Kooperationsvereinbarungen des FIW mit der Wirtschaftsuniversität Wien, der Universität Wien und der Johannes Kepler Universität Linz werden aus Hochschulraumstrukturmitteln gefördert. Dear Sir or Madam, we are pleased to inform you about the latest news of the FIW project. In this issue: · Invitation: 18th AW-Lecture on October 30th, 2015 · New FIW Working Papers published Invitation: 18th AW-Lecture on October 30th, 2015 E I N L A D U N G 18. AW-Vorlesung Freitag, 30. Oktober 2015 Prof. Gabriel Felbermayr, Ph.D. (IFO, LMU); Univ.-Prof. Dr. Harald Oberhofer (WU/WIFO) "20 Jahre Österreich in der EU − Handelseffekte, Herausforderungen und Optionen" Begrüßung: Sektionschefin Mag. Bernadette Gierlinger (BMWFW) Kommentare: Univ.-Prof. Mag. Dr. Fritz Breuss (FIW, WIFO, WU) Diskussionsleitung: Dr. Manfred Schekulin (BMWFW) Literatur: Studie "20 Jahre Österreich in der Europäischen Union – Herausforderungen und Optionen für die Zukunft"; Gabriel Felbermayr (ifo & LMU München); Wilhelm Kohler (IAW & Universität Tübingen) et al.; Wien; August 2015; FIW-Policy Brief Nr. 28 (Oktober 2015) Zeit: 9:15 Uhr (pünktlich) bis 10:30 Uhr Ort: Wirtschaftsministerium, Stubenring 1, 1010 Wien, 5. Stock, Pressezentrum AW-Vorlesungen ist eine Veranstaltungsreihe, bei der politikrelevante aktuelle Forschungsergebnisse aus dem Bereich internationale Wirtschaft praxisnah präsentiert und diskutiert werden. Für Kaffee ist gesorgt …. Anmeldung erforderlich unter: http://www.fiw.ac.at/index.php?id=833#13769 New FIW Working Papers published The FIW Working Papers No. 158 & No. 159 wurden veröffentlicht und stehenzum freien Download zur Verfügung: http://www.fiw.ac.at/index.php?id=797&L=3 FIW Working Paper Nr. 158, Izabela Sobiech: „Remittances, finance and growth: does financial development foster remittances and their impact on economic growth” Abstract: In this paper, I measure the importance of remittances and financial development for developing countries. I estimate an index of overall financial conditions and use it to determine the relevance of the financial sector as a transmission channel for remittances to affect economic growth. The index brings together information from existing measures, reflecting size, depth and efficiency of the financial sector. It is created by means of an unobserved components model. I show that the more financial development in a country, the smaller becomes the impact of remittances on economic growth and it can even turn negative. For countries with weaker financial markets there is a positive effect, but significant only at the earliest stages of financial development. The effect becomes negative in the third quartile of financial development. These results hold irrespective of the measure of financial development included, but are most profound in case of the created index. This means that estimates based on proxies might be slightly biased. I also show that countries with both low levels of remittances and financial development should first focus on developing the latter, while migrants' transfers become important for growth if the country has a moderate level of financial development. JEL: F24, O11, O15 and O16 Keywords: remittances, economic growth, financial development, unobserved components model, dynamic panel data analysis FIW Working Paper Nr. 159, Veronika Hecht: „Location choice of German multinationals in the Czech Republic. The importance of agglomeration economies” Abstract: This paper analyses the location choice of German investors in the Czech Republic based on a unique dataset covering all Czech companies with a German equity holder in 2010. The identification of the regional determinants of foreign direct investment (FDI) location is an important regional policy issue as FDI is supposed to improve the labour market conditions of the host region. Using a nested logit approach the impact of agglomeration economies, labour market conditions and distance on the location choice decision is investigated. The main result of the paper is that apart from a low distance to the location of the parent company the attractiveness of a Czech district for German investors is mainly driven by agglomeration economies. Besides localisation economies the agglomeration of German companies in a region plays a decisive role. The importance of labour market characteristics differs between investment sectors, sizes and periods. JEL: F24, R12, R30 Keywords: Location choice, FDI, Multinational enterprises, Germany, Czech Republic, Agglomeration Economies Kind regards, Alexander Hudetz (FIW Project Office) _____________________________________________________ The ‘center of excellence’ FIW (http://www.fiw.ac.at/) is a project of WIFO, wiiw and WSR on behalf of the BMWFW. The FIW cooperation with the Vienna University of Economics and Business (WU), the University Vienna and the Johannes Kepler University Linz is supported by the former Federal Ministry of Science and Research (now integrated in the Federal Ministry of Science, Research and Economy).