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Revisiting the investment development path (IDP): A non linear fluctuation approach

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  • Kayam, S.s.
  • Hisarciklilar, M.

Abstract

The investment development path (IDP) approach claims that countries go through five stages with respect to their net outward investment positions as they develop. Attempts to test its validity using time-series or cross-section estimation techniques were moderately successful and the functional specifications used did not reflect IDP structure well. In this study, we introduce a fluctuation function, which is obtained from the general solution of an exponential function reflecting a continuous compounding process. It has extra properties that help capture the idiosyncratic shape of IDP and gives parameter estimates that facilitate interpretation of the stage a country is at.

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Bibliographic Info

Article provided by Euro-American Association of Economic Development in its journal International Journal of Applied Econometrics and Quantitative Studies .

Volume (Year): 9 (2009)
Issue (Month): 2 ()
Pages:

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Handle: RePEc:eaa:ijaeqs:v:9:y2009:i:1_12

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Related research

Keywords: investment development path; trigonometric function; nonlinear estimation;

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  1. Rugman, Alan M, 1986. "New Theories of the Multinational Enterprise: An Assessment of Internalization Theory," Bulletin of Economic Research, Wiley Blackwell, vol. 38(2), pages 101-18, May.
  2. Christian Bellak, 2000. "The Investment Development Path of Austria," Department of Economics Working Papers wuwp075, Vienna University of Economics, Department of Economics.
  3. John H Dunning, 1988. "The Eclectic Paradigm of International Production: A Restatement and Some Possible Extensions," Journal of International Business Studies, Palgrave Macmillan, vol. 19(1), pages 1-31, March.
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