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Globalization and Outward Foreign Direct Investment

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  • Štefan Bojnec
  • Imre Fertő

Abstract

While recent research into foreign direct investment (FDI) has focused on examining the importance of institutions, corruption, money laundering, and tax havens, the role of globalization on FDI has not yet been explored. This research investigates the impacts of globalization on outward FDI. We find that both overall globalization and its economic and social dimensions significantly positively influence outward FDI flows. We also demonstrate that beyond the level of globalization, corruption, money laundering, and the status of a country as a tax haven, cross-country similarity also plays an important role. Accordingly, policies specifically designed to increase the transparency of outward FDI flows should be required to address money laundering and the existence of tax havens.

Suggested Citation

  • Štefan Bojnec & Imre Fertő, 2018. "Globalization and Outward Foreign Direct Investment," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 54(1), pages 88-99, January.
    • Handle: RePEc:mes:emfitr:v:54:y:2018:i:1:p:88-99
    DOI: 10.1080/1540496X.2016.1234372
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    Cited by:

    1. Magdolna Sass & Jana Vlčková, 2019. "Just Look behind the Data! Czech and Hungarian Outward Foreign Direct Investment and Multinationals," Acta Oeconomica, Akadémiai Kiadó, Hungary, vol. 69(supplemen), pages 73-105, December.
    2. Kong, Qunxi & Guo, Rui & Wang, Yang & Sui, Xiuping & Zhou, Shimin, 2020. "Home-country environment and firms’ outward foreign direct investment decision: Evidence from Chinese firms," Economic Modelling, Elsevier, vol. 85(C), pages 390-399.
    3. Li, Kun-Sha & Xiong, Yong-Qing, 2022. "Host country’s environmental uncertainty, technological capability, and foreign market entry mode: Evidence from high-end equipment manufacturing MNEs in emerging markets," International Business Review, Elsevier, vol. 31(1).
    4. Chengchun Li & Yun Luo & Glauco Vita, 2020. "Institutional difference and outward FDI: evidence from China," Empirical Economics, Springer, vol. 58(4), pages 1837-1862, April.
    5. Vishal Dagar & Farhan Ahmed & Farah Waheed & Štefan Bojnec & Muhammad Kamran Khan & Sana Shaikh, 2022. "Testing the Pollution Haven Hypothesis with the Role of Foreign Direct Investments and Total Energy Consumption," Energies, MDPI, vol. 15(11), pages 1-23, May.
    6. Abrahms, Max & Dau, Luis Alfonso & Moore, Elizabeth M., 2023. "Should I stay or should I go now? Understanding terrorism as a driver of institutional escapism," International Business Review, Elsevier, vol. 32(4).
    7. Joel I. Deichmann & Stephen Grubaugh & Patrick Scholten, 2022. "FDI propensity and geo-cultural interaction in former Yugoslavia: pairwise analysis of origin and destination countries," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 12(3), pages 479-505, September.

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