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U.S. Greenfield Investments and M&A location: impact of American continental integration and Insider vs. Outsider position

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  • Bertrand, Olivier

    (University of Paris 1)

  • Nicole Madariaga

Abstract

This study examines the effects of economic integration on Greenfield Investments and cross-border Acquisitions locations. We use panel data on U.S. FDI in NAFTA and MERCOSUR members from 1989 to 1998. Economic integration is captured through tariff barriers and dummy variables. We pool data to distinguish between both agreements. We control for traditional macroeconomic determinants. It is found that economic integration certainly played a major role on U.S. firmsÕ location patterns. The U.S. position regarding the two agreements Ð insider vs. outsider- seemed to matter. Moreover, both our empirical study and our theoretical model underline the relevance of separating entry modes.

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Bibliographic Info

Paper provided by Royal Economic Society in its series Royal Economic Society Annual Conference 2003 with number 22.

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Date of creation: 04 Jun 2003
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Handle: RePEc:ecj:ac2003:22

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Keywords: FDI; integration; location; mode of entry;

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