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The empirical analysis in ""International R&D Spillovers"" (Coe and Helpman, 1995) is first revisited by applying modern panel cointegration estimation techniques to an expanded data set that we have constructed for the purpose of this study. The new estimates confirm the key results reported in...
Persistent link: https://www.econbiz.de/10014400689
Luxembourg receives ample investment from multinational corporations, in part due to some attractive features in its international tax rules. Around 95 percent of these foreign investments pass through Luxembourg via companies performing holding and/or intra-group financing activities. While...
Persistent link: https://www.econbiz.de/10012392656
Macro statistics on foreign direct investment (FDI) are blurred by offshore centers with enormous inward and outward … investment positions. This paper uses several new data sources, both macro and micro, to estimate the global FDI network while … percent of global FDI. Ignoring phantom investment and allocating real investment to ultimate investors increases the …
Persistent link: https://www.econbiz.de/10012155009
Economists interested in location choices usually focus their attention on investments abroad. This neglects the fact that multinational enterprises continue to invest domestically while undertaking foreign expansion. This paper compares investments at home and abroad. Our firm-level dataset...
Persistent link: https://www.econbiz.de/10011779742
(FDI) between 1987 and 1996. In contrast to earlier work, our results suggest that FDI leads to substantial productivity … gains for domestic firms. The size of FDI spillovers is economically important, accounting for about 11 percent of … is weaker than for FDI spillovers. The paper also gives a detailed account of why our study leads to results different …
Persistent link: https://www.econbiz.de/10014403965
Income earned by the branches and subsidiaries of multinational firms can be either reinvested in the host country or repatriated as dividends to the firms'' headquarters. Despite the rapid growth of foreign direct investment in the 1990s, there has been relatively limited analysis of the...
Persistent link: https://www.econbiz.de/10014404133
corporate control promotes the adoption of better corporate governance practices around the world …
Persistent link: https://www.econbiz.de/10014394542
The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and...
Persistent link: https://www.econbiz.de/10014395947
This paper summarizes the theory and empirical evidence on the determinants of foreign direct investment. These determinants include expected relative rates of return, risk diversification, market size, technological advantage, market failure, oligopolistic rivalry, liquidity, currency strength,...
Persistent link: https://www.econbiz.de/10014396385
than would be suggested by official balance of payments statistics. This paper identifies the determinants of FDI …
Persistent link: https://www.econbiz.de/10014399589