Christopher Hajzler is a Principal Researcher in the Emerging Markets Division of the International Economic Analysis Department. His primary research interests include the study of the effects of political risk on international capital flows, expropriation of foreign direct investments, and Law-of-One-Price deviations within and across countries. Prior to joining the Bank of Canada, he obtained a PhD in Economics from the University of Western Ontario, and was Assistant Professor/Lecturer at the University of Otago, New Zealand.
Staff Analytical Notes
Staff Working Papers
Expropriation Risk and FDI in Developing Countries: Does Return of Capital Dominate Return on Capital?Previously reported effects of institutional quality and political risks on foreign direct investment (FDI) are mixed and, therefore, difficult to interpret. We present empirical evidence suggesting a relatively clear, statistically robust, and intuitive characterization.
- "Expropriation risk and FDI in developing countries: Does return of capital dominate return on capital?,"
(with M. Akhtaruzzaman & N. Berg), European Journal of Political Economy. (Forthcoming.)
- "Does institutional quality resolve the Lucas Paradox?,"
(with M. Akhtaruzzaman & D. Owen), Applied Economics. (Forthcoming.)
- "Distance, Language, Religion, and the Law of One Price: Evidence from Canada and Nigeria,"
(with D. Fielding& J. MacGee), Journal of Money, Credit and Banking. 47(5): 1007–1029, 2016.
- "Relative Price and Inflation Variability in a Simple Consumer Search Model,"
(with D. Fielding), Economics Letters, 123 (1): 17–22, 2014.
- "Resource-Based FDI and Expropriation in Developing Economies," Journal of International Economics, 92 (1): 124–146, 2014.
- "Expropriation of Foreign Direct Investments: Sectoral Patterns from 1993 to 2006," Review of World Economics/Weltwirtschaftliches Archiv, 148(1): 119–149, 2012.