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Un réexamen de la relation entre commerce et Investissement Direct à l'étranger (IDE) à partir d'un modèle en panel dynamique Le cas de l'Allemagne, la France et l'Italie

  • Raphaël Chiappini


    (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - CNRS - UNS - Université Nice Sophia Antipolis, Larefi - Laboratoire d'analyse et de recherche en économie et finance internationales - Université Montesquieu - Bordeaux 4)

This study investigates the relationship between outward foreign direct investment (FDI) stock and bilateral export flows of the four larger exporter of the euro area. Using a dynamic panel model relying on the system GMM estimator, we find strong evidence of a complementarity relationship between FDI and trade for Germany, especially with emerging countries. Results concerning France are less robust and only show a weak positive effect of FDI on trade with emerging economies. Finally, exports and FDI are found to be substitutes for Italy, especially with developed countries.

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Paper provided by HAL in its series Working Papers with number hal-00744405.

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Date of creation: 14 Jun 2012
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Handle: RePEc:hal:wpaper:hal-00744405
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