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Walid  Hejazi Associate Professor of International Business   Degrees   Ph.D., University of Toronto MA, University of Toronto HBA, University of Western Ontario Email   Personal Web Site   http://www.utsc.utoronto.ca/~hejazi/

Positions Held Academic Positions 2000-Present   Assistant Professor, cross appointed to the Rotman School of Management and the Division of Management at the University of Toronto at Scarborough 1995-2000   Assistant Professor, Division of Management at the University of Toronto at Scarborough 1994-1995   Research Fellow, Institute for International Business, University of Toronto 1993-1994   Research Fellow, Institute for Policy Analysis, University of Toronto

Selected Articles and Papers "Canada and Foreign Direct Investment: A Study of Determinants," with A.E. Safarian, monograph, University of Toronto Centre for Public Management "East Asia's Ageing Populations: Pension Reform and Implications," with Pauline Shum, Key Long-Term Economic and Security Issues in Asia, HSBC Bank Canada Papers on Asia, University of Toronto Press "Offshore Financial Centres and the Canadian Economy, February 2007", 2007 "High Taxes Impede Foreign Investment," with A.E. Safarian, Op-ed, National Post, January 9, 2002 "Foreign Direct Investment and Capital Formation," Research Note, with Peter Pauly, International Advances in Economic Research, 7 (2), May, 2001 "The Complementarity Between US FDI stock and Trade," with A.E. Safarian, Atlantic Economic Journal, (29) 4, 2001 "Access to Foreign R&D Does Not Undermine Domestic R&D Efforts," Policy Options, October, 2001 "Modelling Links Between Foreign Direct Investment and Domestic Capital Formation," with Peter Pauly, Industry Canada working paper series, Number 36, 2001 "The Expectations Hypothesis, Term Premia, and the Canadian Term Structure of Interest Rates," with Huiwen Lai and Xian Yang, Canadian Journal of Economics, 33 (1), February, 2000, pp. 133-148 "Yield Spreads as Predictors of Industrial Production: Short Rates or Term Premia?," Applied Economics, 32 (8), June, 2000, pp. 945-951. (Lead Article) "Are Forward Premia Mean Reverting?," with Zhixin Li, Applied Financial Economics, 10 (4) August, 2000, pp. 343-350 (Lead Article) "Cointegration and Canada-US Term Structures: Does Accounting for Structural Breaks Make a Difference?," with Michael Marr and Jack Parkinson, Canadian Journal of Administrative Sciences, 17 (4), 2000, pp. 342-355 "Modelling Links Between Canadian Trade and Foreign Direct Investment," with A.E. Safarian, Industry Canada Research Publications series entitled Perspectives on North American Free Trade, April, 1999 "Trade, Foreign Direct Investment and R&D Spillovers," with A.E. Safarian, Journal of International Business Studies, 30 (3), Third quarter, 1999, pp. 491-511 "How Much Does Finance Matter in East Asia?," with Varouj Aivazian, Fiscal Frameworks and Financial Systems in East Asia: How Much Do They Matter? Hong Kong Bank of Canada Papers on Asia, University of Toronto Press, 1998 "Productivity, Innovation and Economic Growth," with Melvyn Fuss and Len Waverman, Trade, Innovation, and Industrial Performance, Ottawa: Centre for Trade Policy and Law, edited by Sunder Magun, 1997 "Canada and the Asia Pacific Region: Views from the Gravity, Monopolistic Competition, and Heckscher-Ohlin Models," with Dan Trefler, The Asia Pacific Region and the Global Economy: A Canadian Perspective, edited by Richard Harris, University of Calgary Press, 1996 "The Impact of NAFTA on China's Competitive Advantage and Trade Patterns with North America," with Leonard Waverman and Alan Alexandroff, Sino-North American Trade: Challenges and Opportunities, edited by Leonard Waverman, University of Toronto Press, 1996 Books/Chapters U.S. Firms in World Finance, with Marc von der Ruhr, American Macromanagement. Edward Elgar Publishers

Honors/Awards 1998-1999 Management and Economics student appreciation award

Research and Teaching Interests International Business, Financial Economics and Money and Banking