Emerging markets have long been the recipient of foreign direct investment (FDI) from the world’s more advanced countries. They have used this to their advantage and actively attracted inward FDI as part of their growth and development strategies. However, emerging markets have since spurred...

The emergence of GVCs and recently superstar firms has been well documented, but less attention has been paid to what these joint developments mean for how we think about and need to examine FDI. Against this setting, I explore four dimensions of FDI: its conceptual aspects, measurement,...

This paper investigates the role of global economic uncertainty in Dunning’s investment development path (IDP) framework. By applying the dynamic panel threshold model to data from 76 developed and developing countries, we find that countries’ net outward investment (NOI) follows a...

Geographically dispersed production networks have allowed countries to specialise in different functions of the value chain. By making use of two methodologies for quantifying the magnitude of functional specialisation - one based on trade flows and one based on FDI flows - detailed profiles of...

We empirically characterize how China is internationalizing the Renminbi by selectively opening up its domestic bond market and propose a dynamic reputation model to understand China's internationalization strategy. While previously closed to foreign investors, China has recently allowed major...

This paper uses social network theory and the internationalization process model (IPM) to determine how external network linkages influence the location choices of multinational enterprise from emerging economies (EMNEs); specifically, whether past alliance experience influences location choices...

This paper documents some key facts about foreign direct investment flows by U.S. businesses overseas and foreign businesses in the United States. We show how the pattern of flows has evolved, examine the sources and destination of these flows, document associated employment and productivity...

Uncertainty incentivizes investors to wait-and-see and to hold back their investments. This paper investigates whether more liquid types of foreign direct investment are more affected by policy uncertainty than less liquid ones. Utilizing election data and the newly developed World Uncertainty...

Globalisation through international trade, foreign direct investment (FDI) and international movements of labour is a key force driving economic growth. However, Japan is an outlier among OECD countries, with the lowest levels of import penetration, stock of inward FDI relative to GDP and...

The taxation of the multinational enterprise (MNE) has been a continuing concern for policy-makers. We argue that the changing nature of the mobile MNE (e.g., its improved ability to fine-slice the value chain and disperse it geographically) makes it increasingly important to rethink current tax...