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The Determining Factors of Foreign Direct Investment in Spain and the rest of the OECD: Lessons for CEECs

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Author Info

  • Martín, Carmela
  • Velazquez, Francisco J

Abstract

This paper – using an estimation of an econometric model with panel data – investigates the determining factors in bilateral direct investment flows between OECD countries (except for the more recently-incorporated former communist countries of Central and Eastern Europe, or CEECs) over the past decade. Although the research seeks to explore the general patterns in OECD countries, it also attempts to detect the possible patterns specific to the Spanish case, which could prove particularly useful in drawing inferences for the CEECs. The findings suggest that international flows of direct investment between developed countries are explained not so much by factor endowment differences as by other variables suggested in Dunning’s ‘ownership-location-internalisation’ (OLI) model.

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Bibliographic Info

Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 1637.

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Date of creation: Jun 1997
Date of revision:
Handle: RePEc:cpr:ceprdp:1637

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Related research

Keywords: Central and Eastern Europe; Foreign Direct Investment (FDI); Panel-data Econometric Model (OECD);

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Cited by:
  1. Krishna G. Iyer & Alicia N. Rambaldi & Kam Ki Tang, 2008. "Efficiency externalities of trade and alternative forms of foreign investment in OECD countries," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 23(6), pages 749-766.
  2. bouoiyour, jamal, 2007. "The Determining factors of foreign firect investment in Morocco," MPRA Paper 37030, University Library of Munich, Germany.
  3. Bouoiyour, Jamal, 2007. "The determining factors of foreign direct investment in Morocco," MPRA Paper 37326, University Library of Munich, Germany.
  4. Bevan, Alan & Estrin, Saul & Meyer, Klaus, 2004. "Foreign investment location and institutional development in transition economies," International Business Review, Elsevier, vol. 13(1), pages 43-64, February.
  5. Ansgar Belke & Martin Hebler, 2002. "Towards a European Social Union: Impacts on Labor Markets in the Acceding Countries," Constitutional Political Economy, Springer, vol. 13(4), pages 313-335, December.
  6. Marián Dinga & Vilma Dingová, 2011. "Currency Union and Investment Flows: Estimating the Euro Effect on FDI," Working Papers IES 2011/25, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Jul 2011.
  7. Karoly Fazekas, 2000. "The impact of foreign direct investment inflows on regional labour markets in Hungary," Budapest Working Papers on the Labour Market 0008, Institute of Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences.
  8. Peter Egger, . "European Exports and Outward Foreign Direct Investment. A Dynamic Panel Data Approach," WIFO Working Papers 129, WIFO.
  9. Krishna G. Iyer & Alicia N. Rambaldi & Kam Ki Tang, 2005. "Measuring Efficiency externalities from Trade and Alternative Forms of Foreign Investment," CEPA Working Papers Series WP042005, School of Economics, University of Queensland, Australia.
  10. Oscar Bajo-Rubio & Carmen López-Pueyo, 2002. "Foreign Direct Investment in a Process of Economic Integration: The Case of Spanish Manufacturing, 1986-1992," Working Papers 02-02, Asociación Española de Economía y Finanzas Internacionales.
  11. Peter Egger & Michael Pfaffermayr, 2004. "Distance, trade and FDI: a Hausman-Taylor SUR approach," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 19(2), pages 227-246.
  12. Nikolay Naydenov, 2008. "Opportunities for Foreign Direct Investments through International Business Incubators in Bulgaria," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 3, pages 180-211.
  13. Salvador Barrios & Eric Strobl, 2002. "Foreign direct investment and productivity spillovers: Evidence from the Spanish experience," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 138(3), pages 459-481, September.
  14. repec:pra:mprapa:37325 is not listed on IDEAS
  15. Carmela Martin & Francisco J. Velazquez, 2000. "Determinants of bilateral foreing direct investment flows in the OECD, with a closer look at the former coummunist countries," European Economy Group Working Papers 2, European Economy Group.
  16. Christian Bellak & Wilfried Altzinger, 1999. "Direct Versus Indirect FDI: Impact On Domestic Exports And Employment," Working Papers geewp09, Vienna University of Economics Research Group: Growth and Employment in Europe: Sustainability and Competitiveness.

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