Outward FDI and Domestic Investment
This paper examines the impact of outward foreign direct investment (OFDI) on domestic investment by applying co-integration techniques to macroeconomic time series data for the United Sates and Germany. We show that the two countries differ: In the case of the US, OFDI has positive long-run effects on domestic investment while in the case of Germany the reverse effect is reported.
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- Stevens, Guy V. G. & Lipsey, Robert E., 1992.
"Interactions between domestic and foreign investment,"
Journal of International Money and Finance,
Elsevier, vol. 11(1), pages 40-62, February.
- Robert E. Lipsey & Guy V.G. Stevens, 1988. "Interactions between Domestic and Foreign Investment," NBER Working Papers 2714, National Bureau of Economic Research, Inc.
- Guy V. G. Stevens & Robert E. Lipsey, 1988. "Interactions between domestic and foreign investment," International Finance Discussion Papers 329, Board of Governors of the Federal Reserve System (U.S.).
- Mihir A. Desai & C. Fritz Foley & James R. Hines Jr., 2005.
"Foreign Direct Investment and the Domestic Capital Stock,"
American Economic Review,
American Economic Association, vol. 95(2), pages 33-38, May.
- Mihir C. Desai & C. Fritz Foley & James R. Hines Jr., 2005. "Foreign Direct Investment and the Domestic Capital Stock," NBER Working Papers 11075, National Bureau of Economic Research, Inc.
- Peter C. B. Phillips & Mico Loretan, 1991.
"Estimating Long-run Economic Equilibria,"
Review of Economic Studies,
Oxford University Press, vol. 58(3), pages 407-436.
- René Belderbos, 1992. "Large multinational enterprises based in a small economy: Effects on domestic investment," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 128(3), pages 543-557, September.
- M. Hashem Pesaran & Yongcheol Shin & Richard J. Smith, 2001. "Bounds testing approaches to the analysis of level relationships," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 16(3), pages 289-326.
- Martin S. Feldstein, 1995.
"The Effects of Outbound Foreign Direct Investment on the Domestic Capital Stock,"
in: The Effects of Taxation on Multinational Corporations, pages 43-66
National Bureau of Economic Research, Inc.
- Martin Feldstein, 1994. "The Effects of Outbound Foreign Direct Investment on the Domestic Capital Stock," NBER Working Papers 4668, National Bureau of Economic Research, Inc.
- Granger, C. W. J., 1988. "Some recent development in a concept of causality," Journal of Econometrics, Elsevier, vol. 39(1-2), pages 199-211.
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