Continental Drift: European Integration and the Location of U.K. Foreign Direct Investment
AbstractThis paper seeks to quantify the impact of the European internal market programme on the sectoral and geographical pattern of foreign direct investment by U.K. corporations. The author uses an annual panel data set covering investment within seven sectors in the European Union and the United States, and controls for market size, relative costs, innovation, corporate financial constraints, and sector-specific fixed effects. His results indicate that the programme has had a significant positive effect on the level of investment, both in industrial and service sectors. There is also some evidence of investment diversion from the United States into the European Union since 1990. Copyright 1997 by Blackwell Publishers Ltd and The Victoria University of Manchester
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Bibliographic InfoArticle provided by University of Manchester in its journal The Manchester School of Economic & Social Studies.
Volume (Year): 65 (1997)
Issue (Month): 0 (Supplement)
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- Nigel Pain, 1996. "Continental Drift: European Integration and the Location of UK Foreign Direct Investment," NIESR Discussion Papers 107, National Institute of Economic and Social Research.
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