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The Impact of the Single Market Programme on the Locational Determinants of US Manufacturing Affiliates: An Econometric Analysis

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  • Andrew Mold

Abstract

This article analyses the impact of the single market programme (SMP) on the locational determinants of US foreign direct investment (FDI) in the manufacturing sector. The econometric model covers the period 1978-95, a key period in the development of the European single market. As the process of regional integration deepens, some authors have predicted that firms will become more sensitive to factor-based differences (e.g. labour costs) between Member States, and less sensitive to changes in market conditions in the host country. This article finds no evidence of this phenomenon - variables related to the demand side (size and growth of GDP) continue to be the most important determinants of FDI inflows. Copyright Blackwell Publishing Ltd 2003.

Suggested Citation

  • Andrew Mold, 2003. "The Impact of the Single Market Programme on the Locational Determinants of US Manufacturing Affiliates: An Econometric Analysis," Journal of Common Market Studies, Wiley Blackwell, vol. 41(1), pages 37-62, March.
  • Handle: RePEc:bla:jcmkts:v:41:y:2003:i:1:p:37-62
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    References listed on IDEAS

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    1. Agnès Bénassy-Quéré & Lionel Fontagné & Amina Lahrèche-Révil, 2001. "Foreign Direct Investment and Company Taxation in Europe," Economics Working Papers 004, European Network of Economic Policy Research Institutes.
    2. Robert E. Lipsey, 1990. "American Firms Face Europe: 1992," NBER Working Papers 3293, National Bureau of Economic Research, Inc.
    3. Robert Z. Aliber, 1993. "The Multinational Paradigm," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262511517, January.
    4. Markusen, James R & Maskus, Keith E, 2002. "Discriminating among Alternative Theories of the Multinational Enterprise," Review of International Economics, Wiley Blackwell, vol. 10(4), pages 694-707, November.
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    Cited by:

    1. Piteli, Eleni E.N., 2009. "Foreign Direct Investment in Developed Economies: A Comparison between European and non - European Countries," Papers DYNREG44, Economic and Social Research Institute (ESRI).
    2. Laura Resmini & Laura Casi, 2011. "The determinants of foreign direct investments: Regional vs. National characteristics," ERSA conference papers ersa10p466, European Regional Science Association.
    3. repec:spr:manint:v:52:y:2012:i:4:d:10.1007_s11575-011-0127-7 is not listed on IDEAS
    4. Kandogan, Yener, 2012. "Regional foreign direct investment potential of the states within the US," Journal of Economics and Business, Elsevier, vol. 64(4), pages 306-322.
    5. repec:bla:presci:v:96:y:2017:i:2:p:299-323 is not listed on IDEAS
    6. Laura Casi & Laura Resmini, 2012. "Globalization, Foreign Direct Investments and Growth in European Regions: An Empirical Assessment," Chapters,in: Globalization Trends and Regional Development, chapter 4 Edward Elgar Publishing.
    7. Olivia Galgau & Khalid Sekkat, 2004. "Does economic integration affect FDI inflows to member countries equally? An empirical analysis for Europe," Working Papers CEB 04-025.RS, ULB -- Universite Libre de Bruxelles.
    8. Fragkiskos Filippaios & Marina Papanastassiou, 2008. "US Outward Foreign Direct Investment in the European Union and the Implementation of the Single Market: Empirical Evidence from a Cohesive Framework," Journal of Common Market Studies, Wiley Blackwell, vol. 46, pages 969-1000, December.
    9. Laura Casi & Laura Resmini, 2014. "Spatial complexity and interactions in the FDI attractiveness of regions," Papers in Regional Science, Wiley Blackwell, vol. 93, pages 51-78, November.
    10. Laura Resmini & Laura Casi, 2013. "Spatial complexity and interactions in regions' FDI attractiveness," ERSA conference papers ersa13p1063, European Regional Science Association.
    11. K Aristotelous, 2005. "Do Currency Unions Affect Foreign Direct Investment Evidence from US FDI Flows into the European Union," Economic Issues Journal Articles, Economic Issues, vol. 10(2), pages 1-10, September.
    12. Antonios Georgopoulos & Felicitas Nowak-Lehmann D. & Vasilios Sogiakas, 2013. "Survival Characteristics and Adjustment of MNE Affiliates in the European Integrated Market," Ibero America Institute for Econ. Research (IAI) Discussion Papers 225, Ibero-America Institute for Economic Research.
    13. Padilla, Ramón & Gomes Nogueira, Caroline, 2015. "Determinants and home-country effects of FDI outflows: Evidence from Latin American countries," Estudios y Perspectivas – Sede Subregional de la CEPAL en México 166, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).

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