The FDI of Multinational Companies (MNCs) can be export-oriented or market-oriented, intended to capture the international or local markets respectively. Since the MNCs have better export performance than local firms, in case of export-oriented FDI, this would lead local firms to mimic foreign...

In this paper, the asymmetric effects of oil price shocks on GDP have been investigated by co-integration analysis in Iran economy during the period 1960-2010. We used Hodrick-Prescott filtering to separate positive shocks from negative shocks. The results showed that in long run the negative...