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Valuation of foreign direct investment positions - final report

Author

Listed:
  • Oliveira-Soares, Rodrigo
  • de la Fuente Layos, Luis
  • Bannister, Neil
  • Williams-Fletcher, Ciara
  • Mendes Mateus, Márcio Filipe
  • Dell’mour, René
  • Hillebrand, Rini
  • Veitzné Kenyeres, Erika
  • Pellegrini, Valeria
  • Nivat, Dominique
  • Portero, Patricia
  • McDonagh, Stephen
  • Hügelschäffer, Sebastian
  • De Boeck, Roger
  • Ruiz González, Beatriz

Abstract

The mandate of the Task Force on Valuation of Foreign Direct Investment (FDI) Positions was to review the methods to value direct investment positions stated in Annex III of the Guideline ECB/2011/23 on External Statistics. In particular, the work of the Task Force was focused on reviewing recent developments that may justify amendments to the current method and assessing whether new methods to be applied in the national contributions to the euro area aggregate would lead to a more reliable international investment position (i.i.p.), in particular by increasing the consistency in the valuation of FDI assets and liabilities. The report concluded that in some cases where the use of own funds at book value (OFBV) data would lead to significant biases in the national net i.i.p., other valuation methods than OFBV could be used, adding that national compilers shall exchange information on those positions with the other relevant Member State(s). National compilers should then consider, on a case-bycase basis, adjusting the valuation of those positions in order to strive for a consistent recording of these investments by counterpart EU countries. The Task Force JEL Classification: A39, C82, F21

Suggested Citation

  • Oliveira-Soares, Rodrigo & de la Fuente Layos, Luis & Bannister, Neil & Williams-Fletcher, Ciara & Mendes Mateus, Márcio Filipe & Dell’mour, René & Hillebrand, Rini & Veitzné Kenyeres, Erika & Pellegr, 2013. "Valuation of foreign direct investment positions - final report," Statistics Paper Series 4, European Central Bank.
    • Handle: RePEc:ecb:ecbsps:20134
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    File URL: https://www.ecb.europa.eu//pub/pdf/scpsps/ecbsp4.en.pdf
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    References listed on IDEAS

    as
    1. Nivat, D. & Topiol, A., 2010. "Valuation of unquoted foreign direct investment stocks at market value: methods and results for France," Quarterly selection of articles - Bulletin de la Banque de France, Banque de France, issue 17, pages 80-98, Spring.
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    Cited by:

    1. Víctor Hugo Torres Preciado & Mayrén Polanco Gaytán & Miguel A. Tinoco Zermeño, 2017. "Dynamic of foreign direct investment in the states of Mexico: An analysis of Markov's spatial chains," Contaduría y Administración, Accounting and Management, vol. 62(1), pages 163-183, Enero-Mar.
    2. Víctor Hugo Torres Preciado & Mayrén Polanco Gaytán & Miguel A. Tinoco Zermeño, 2017. "Dinámica de la inversión extranjera directa en los estados de México: un análisis de cadenas de Markov espaciales," Contaduría y Administración, Accounting and Management, vol. 62(1), pages 141-162, Enero-Mar.

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    More about this item

    Keywords

    balance of payments statistics; FDI valuation; foreign direct investments statistics; market value; own funds at book value;
    All these keywords.

    JEL classification:

    • A39 - General Economics and Teaching - - Multisubject Collective Works - - - Other
    • C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements

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