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An Econometric Analysis of Foreign Direct Investment in the United Kingdom

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  • Pain, Nigel

Abstract

This paper constructs a theoretical model of the factors influencing both the location and the method of production chosen by multinational enterprises and examines the extent to which it can be used to explain aggregate foreign direct investment in the United Kingdom over the last two decades. The results suggest that market size, relative factor prices, and the nonproduction costs of trade have an important influence on the location of investment. The evidence presented is also consistent with the hypothesis that investment in the United Kingdom is viewed as offering access to a wider (tariff free) European market. Copyright 1993 by Scottish Economic Society.

Suggested Citation

  • Pain, Nigel, 1993. "An Econometric Analysis of Foreign Direct Investment in the United Kingdom," Scottish Journal of Political Economy, Scottish Economic Society, vol. 40(1), pages 1-23, February.
    • Handle: RePEc:bla:scotjp:v:40:y:1993:i:1:p:1-23
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    Cited by:

    1. Isabel Faeth, 2009. "Determinants Of Foreign Direct Investment – A Tale Of Nine Theoretical Models," Journal of Economic Surveys, Wiley Blackwell, vol. 23(1), pages 165-196, February.
    2. Jonathan Jones & Colin Wren, 2004. "Do Inward Investors Achieve their Job Targets?," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 66(4), pages 483-513, September.
    3. James Love, 2003. "Technology sourcing versus technology exploitation: an analysis of US foreign direct investment flows," Applied Economics, Taylor & Francis Journals, vol. 35(15), pages 1667-1678.
    4. Branimir Jovanovic & Biljana Jovanovic, 2018. "Ease of doing business and FDI in the ex-socialist countries," International Economics and Economic Policy, Springer, vol. 15(3), pages 587-627, July.
    5. Bradley, John & Modesto, Leonor & Sosvilla-Rivero, Simon, 1995. "HERMIN : A macroeconometric modelling framework for the EU periphery," Economic Modelling, Elsevier, vol. 12(3), pages 221-247, July.
    6. Hatzius, Jan, 2000. "Foreign direct investment and factor demand elasticities," European Economic Review, Elsevier, vol. 44(1), pages 117-143, January.
    7. Fragkiskos Filippaios & Marina Papanastassiou & Robert Pearce, 2003. "The evolution of US outward foreign direct investment in the pacific rim: a cross-time and country analysis," Applied Economics, Taylor & Francis Journals, vol. 35(16), pages 1779-1787.
    8. Hatzius , Jan, 1996. "Foreign Direct Investment, Capital Formation and Labour Costs: Theory and Evidence for Germany," Working Paper Series 468, Research Institute of Industrial Economics.
    9. Nigel Driffield & James H. Love & Karl Taylor, 2009. "Productivity And Labour Demand Effects Of Inward And Outward Foreign Direct Investment On Uk Industry," Manchester School, University of Manchester, vol. 77(2), pages 171-203, March.
    10. 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.
    11. J Hatzius, 1997. "Foreign Direct Investment," CEP Discussion Papers dp0336, Centre for Economic Performance, LSE.
    12. Martin Robson & Roxana Radulescu, 2004. "Does stricter employment protection legislation deter FDI?," Money Macro and Finance (MMF) Research Group Conference 2003 81, Money Macro and Finance Research Group.
    13. Hatzius, J., 1997. "Foreign direct investment," LSE Research Online Documents on Economics 20351, London School of Economics and Political Science, LSE Library.
    14. John Curtis & John FitzGerald, 1994. "Convergence in an Open Labour Market," Papers WP045, Economic and Social Research Institute (ESRI).
    15. Isabel Faeth, 2005. "Determinants of FDI in Australia : Which Theory Can Explain it Best?," Department of Economics - Working Papers Series 946, The University of Melbourne.
    16. Barrell, Ray & Pain, Nigel, 1999. "Trade restraints and Japanese direct investment flows," European Economic Review, Elsevier, vol. 43(1), pages 29-45, January.
    17. Andrzej Adamczyk & Tomasz Tokarski & Robert W. Włodarczyk, 2009. "Przestrzenne zróżnicowanie płac w Polsce," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 9, pages 87-108.
    18. Odysseas Katsaitis & Dimitris Doulos, 2009. "The Impact of EU Structural Funds on FDI," Kyklos, Wiley Blackwell, vol. 62(4), pages 563-578, November.
    19. Kueh, Jerome Swee-Hui & Puah, Chin-Hong & Lau, Evan & Abu Mansor, Shazali, 2007. "FDI-trade nexus: empirical analysis on ASEAN-5," MPRA Paper 5220, University Library of Munich, Germany.

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