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The Evolutionary Dimensions of Global Investment Networks

Author

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  • Jiang, Ronghao

    (Erasmus University Rotterdam, the Netherlands)

  • Tamang, Tenzin

    (Erasmus University Rotterdam, the Netherlands)

Abstract

Numerous studies focus on understanding the organization and operations of global economic and production networks. However, the evolution of the spatial and structural dimensions of these networks has rarely been explored. Drawing on the foreign direct investment (FDI) data from the Zephyr Mergers and Acquisitions (M&A) database, this article investigates the evolutionary patterns of global economic networks from 2000 to 2007 and from 2008 to 2016 (the years preceding and following the financial crisis). First, using social network analysis, we illuminated the network properties of the global FDI flows. Second, we employed a fractional logit panel model to reflect the influences on this evolution. The results reveal major shifts in all network properties explored in the pre-crisis period while relatively gradual growth and minor shifts characterized the post-crisis period. Urban connectivity of nations was found to be significant for FDI in the post-crisis period. Significant variations in the locational attributes between the two periods are also demonstrated.

Suggested Citation

  • Jiang, Ronghao & Tamang, Tenzin, 2020. "The Evolutionary Dimensions of Global Investment Networks," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 35(4), pages 576-608.
    • Handle: RePEc:ris:integr:0811
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    Cited by:

    1. Wei Hu & Yuejing Ge & Zhiding Hu & Na Li & Li Ye & Ziran Jiang & Yun Deng & Shufang Wang & Yue Shan, 2022. "Features of Geo-Economic Network between China and Countries along the 21st Century Maritime Silk Road," Sustainability, MDPI, vol. 14(18), pages 1-22, September.

    More about this item

    Keywords

    Globalization; Networks; Evolution; Foreign Direct Investment (FDI); Global Financial Crisis;
    All these keywords.

    JEL classification:

    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business

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