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Ugo Panizza

@upanizza.bsky.social

Professor & Pictet Chair @GVAGrad, VP @cepr_org & Director ICMB. Before @UNCTAD @the_IDB @AUB_Lebanon @unito 2 daughters. FVCG ⛷🏍 Twitter handle @upanizza www.upanizza.com

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Ugo Panizza@upanizza.bsky.social · 4mo ago

1/ Why economists like models (with an homage to Jorge Luis Borges) After I posted a paper on the catalytic effect of blended finance, I got some pushback on the idea that a unified analytical framework is useful at all. 🧵

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Ugo Panizza@upanizza.bsky.social · 4mo ago

1/ Why economists like models (with an homage to Jorge Luis Borges) After I posted a paper on the catalytic effect of blended finance, I got some pushback on the idea that a unified analytical framework is useful at all. 🧵

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Ugo Panizza@upanizza.bsky.social · 4mo ago

1/ Bank/Fund Spring Meetings are underway. Blended finance — using concessional public funds to crowd in private capital for the SDGs — is front and centre. But do we really know which instruments work best, and when? A new paper of mine tries to answer this. 🧵

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Ugo Panizza@upanizza.bsky.social · 5mo ago

Updates from Beirut Just spoke with my sister-in-law. They stay in the corridor, away from windows. It's cold but windows are kept open day and night so bomb vibrations don't shatter the glass. And they are among the lucky ones. We live in a horrible world.

Ugo Panizza@upanizza.bsky.social · 6mo ago

FDI and growth in the age of global value chains New @voxeu.org piece with Agustin Benetrix and Hayley Pallan @cepr.org @gvagrad.bsky.social cepr.org/voxeu/column...

FDI and growth in the age of global value chains

Existing evidence indicates that foreign direct investment promotes growth only when host economies have the human capital and deep financial markets to absorb spillovers. This column documents how the role of these conditions has weakened since the turn of the century. The authors also demonstrate how the growth effects of foreign direct investment vary dramatically across sectors, with a positive effect in the primary sector, no significant effect in manufacturing, and a negative effect in services. Finally, they show that the association between foreign investment and growth is strongest in country-sectors with low participation in global value chains, and that the type of participation matters too.

cepr.org

VoxEU @ CEPR@voxeu.org · 6mo ago

The role of human capital and deep financial markets for the effectiveness of FDI has weakened since the turn of the century. The growth effects of FDI vary dramatically across sectors, A Bénétrix, H Pallan, & @upanizza.bsky.social explain. cepr.org/voxeu/column... #EconSky

Existing evidence indicates that foreign direct investment promotes growth only when host economies have the human capital and deep financial markets to absorb spillovers. This column documents how the role of these conditions has weakened since the turn of the century. The authors also demonstrate how the growth effects of foreign direct investment vary dramatically across sectors, with a positive effect in the services sector, no significant effect in manufacturing, and a negative effect in services. Finally, they show that the association between foreign investment and growth is strongest in country-sectors with low participation in global value chains, and that the type of participation matters too.
Ugo Panizza@upanizza.bsky.social · 7mo ago

1/ New paper with Agustín Bénétrix and Hayley Pallan: “The Elusive Link Between FDI and Economic Growth: Sectoral Heterogeneity and Global Value Chains.” FDI is everywhere in policy debates… @gvagrad.bsky.social ideas.repec.org/p/tcd/tcduee...

The Elusive Link Between FDI and Economic Growth: Sectoral H

This paper reassesses the relationship between foreign direct investment (FDI) and economic growth in emerging and developing economies. Using cross-country data, it first shows that the relationship

ideas.repec.org

Ugo Panizza@upanizza.bsky.social · 7mo ago

1/ In 2012, Jean-Louis Arcand, Enrico Berkes and I issued an IMF WP: “Too Much Finance?” It shows that finance supports growth up to a point but at some point more finance can hurt The road to publication wasn’t smooth. The paper received many desk rejections… ideas.repec.org/p/imf/imfwpa...

Too Much Finance?

This paper examines whether there is a threshold above which financial development no longer has a positive effect on economic growth. We use different empirical approaches to show that there can inde

ideas.repec.org