One of the most important policies concerning the adjustment of foreign trade is to allocate foreign currency by establishing an exchange control system. The mechanism of this would be so that the Central Bank operates or supervises all transactions concerning foreign exchange. However, the controlling system, like all other international systems of payment, operates with some adjustments and i...

The ability of foreign firms to bring in additional capital to a host country together with technological and skill spillovers may relieve domestic firms of their financial constraints. Yet, some foreign firms borrow more from the local capital markets than the amount of capital they bring in, worsening the financial constraints of the domestic firms. We use a panel of 182 Ghanaian manufacturin...

This paper theoretically investigates whether improved access to the domestic market speeds up new technology adoption by a foreign firm adopts new technology. In our model, foreign firms choose between exporting and foreign direct investment (FDI) to serve the domestic market. In the absence of other foreign firms, a reduction in the fixed cost of FDI promotes and accelerates technology adopti...

poorinformative websites of hotels in iranian tourist destinations has turned to a deterrent factor in attracting potential tourists from all over the world. the main goal of this study was to identify effective solutions for improving the informative effectiveness of iranian top hotels’ websites based on interviews with 25 hotel managers (i.e. ceos, public relations managers and it managers). ...

With bank-level data from 81 developing countries, the paper shows that increased foreign bank presence is associated with increased reliance on non-deposit based funding, which leads to higher interest rate spreads, less credit to the private sector, and higher volatility in bank loans. Foreign bank entry significantly reduces domestic banks’ share of deposits while foreign banks typically all...

This paper analyzes the relationship between money and inflation in a small open economy, where domestic and foreign currencies are perfect substitutes as means of payment. It is shown that, if the path of domestic money supply is such that individuals find it optimal to change the currency in which transactions are settled, there will be an adjustment period during which domestic inflation adj...