CHOIX DE LOCALISATION DES ENTREPRISES, MODE D'ENTRÉE ET INTÉGRATION ÉCONOMIQUE :

Our study examines the effect of economic integration on the location choices of Greenfield Investments and Cross-border Mergers and Acquisitions. We use panel data on US FDI in NAFTA and MERCOSUR members from 1989 to 1998. Economic integration is assessed through bilateral tariff barriers and dummy variables (date of implementation of treaties). We also control traditional determinants. It is found that economic integration played a role in US firms location patterns. Moreover, both our empirical study and our theoretical model underline the relevance of separating these two entry modes.