ON CAPITAL MARKET DEVELOPMENT
DORIN DOBRISANABSTRACT. Antràs et al. examine how costly financial contracting and weak investor protection influence the cross-border operational, financing and investment decisions of firms. Buch and Kleinert hold that economic theory provides two main explanations why changes in exchange rates can affect foreign direct investment (FDI). Nakagawa reveals several common features of the development of securities markets in nine Asian economies.