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Spatial Interdependence in US Outward FDI into Africa, Latin America and the Caribbean

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  • Uwaoma G. Nwaogu
  • Michael Ryan

Abstract

type="main" xml:id="twec12118-abs-0001"> The existing literature on spatial interdependence in FDI flows has primarily focused on developed economies as hosts, with these hosts economically tied together via good infrastructure and historically strong/significant trade flows. In contrast, we explicitly test for the presence of spatial interdependence in developing hosts (Africa, Latin American and the Caribbean) where such ties are not as strong. For US outbound FDI between 1995 and 2007, our empirical results confirm third-country effects do matter even when controlling for spatial and time-period fixed effects. Based on the signs of the market potential and spatial lag coefficients, we find US FDI strategies into these regions as consistent with complex vertical specialisation.

Suggested Citation

  • Uwaoma G. Nwaogu & Michael Ryan, 2014. "Spatial Interdependence in US Outward FDI into Africa, Latin America and the Caribbean," The World Economy, Wiley Blackwell, vol. 37(9), pages 1267-1289, September.
    • Handle: RePEc:bla:worlde:v:37:y:2014:i:9:p:1267-1289
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    File URL: http://hdl.handle.net/10.1111/twec.2014.37.issue-9
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    Cited by:

    1. Lisha He, 2022. "Spatial Linkages in Chinese Service and Manufacturing Outward Fdi: Empirical Evidence From the United States," Tijdschrift voor Economische en Sociale Geografie, Royal Dutch Geographical Society KNAG, vol. 113(5), pages 450-468, December.
    2. Lisha He & Ronghao Jiang & Mia M. Bennett, 2020. "The rise of Chinese foreign direct investment in the United States: Disentangling investment strategies of state‐owned and private enterprises," Growth and Change, Wiley Blackwell, vol. 51(4), pages 1562-1587, December.
    3. Adugna Lemi & Liyan Liu & Ian A. Wright, 2021. "Location choice determinants of Chinese and US firms in Africa: Does spatial interdependence play a role?," The World Economy, Wiley Blackwell, vol. 44(10), pages 2966-2997, October.
    4. Shuzhong Ma & Mengheng Liu, 2020. "Spatial correlation effect of China's outward foreign direct investment in countries along the One Belt and One Road," Pacific Economic Review, Wiley Blackwell, vol. 25(2), pages 228-249, May.
    5. Adolfo Maza & Paula Gutiérrez‐Portilla & José Villaverde, 2020. "On the drivers of UK direct investment in the Spanish regions: A spatial Durbin approach," Growth and Change, Wiley Blackwell, vol. 51(2), pages 646-675, June.
    6. Luisa Alamá-Sabater & Teresa Fernández-Núñez & Miguel Ángel Márquez & Javier Salinas-Jimenez, 2020. "Do Countries with Similar Levels of Corruption Compete to Attract Foreign Investment? Evidence Using World Panel Data," Sustainability, MDPI, vol. 12(15), pages 1-15, July.
    7. Alena Dorakh, 2020. "FDI Determinants in the European Union: Empirical Application," Scientific Annals of Economics and Business (continues Analele Stiintifice), Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 67(2), pages 220-233, June.
    8. Xia Liu & Hanwen Sun & Wei Liu & Jiaqi Fang, 2023. "The Impact of Reverse Cross-Border Mergers and Acquisitions in Emerging Countries on the Division Position in the Global Value Chain: A Systematic Framework of the Third Country Effect," Sustainability, MDPI, vol. 15(6), pages 1-21, March.

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