Fonseca, Miguel; Mendonça, António; Passos, José - ISEG - School of Economics and Management, Department … - 2009
FDI and trade. We use panel data analysis within a framework of gravity equations for exports and imports, with a sample … evidence for Portugal is consistent with a substitution hypothesis between direct investment abroad and trade, and consequently … we detect a negative trade balance effect with the majority of countries in our sample, excepting Angola and, in a lesser …