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US FDI flows to ASEAN-5: Do Geographic Neighbors Matter?

  • Kemegue, Francis
  • Mohan, Ramesh

This paper investigates the possibility of interdependence between flows of US FDI to the ASEAN region. The study incorporates information asymmetry into an FDI model to examine the influence of geographic neighbors on new flows of FDI from the United States. Spillovers are modeled using the cost structure of a multinational investing in a region where US firms are already present. The results show that there are negative spillovers of US FDI in the ASEAN region affecting mostly the non-manufacturing sector.

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File URL: http://mpra.ub.uni-muenchen.de/5988/1/MPRA_paper_5988.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 5988.

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Date of creation: 26 Nov 2007
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Handle: RePEc:pra:mprapa:5988
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  1. Wolfgang Keller, 2000. "Geographic Localization of International Technology Diffusion," NBER Working Papers 7509, National Bureau of Economic Research, Inc.
  2. Robert Lipsey & Fredrik Sjöholm, 2004. "FDI and wage spillovers in Indonesian manufacturing," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 140(2), pages 321-332, June.
  3. Froot, Kenneth A & Stein, Jeremy C, 1991. "Exchange Rates and Foreign Direct Investment: An Imperfect Capital Markets Approach," The Quarterly Journal of Economics, MIT Press, vol. 106(4), pages 1191-217, November.
  4. Keller, Wolfgang, 2002. "International Technology Diffusion," CEPR Discussion Papers 3133, C.E.P.R. Discussion Papers.
  5. Kiviet, Jan F., 1995. "On bias, inconsistency, and efficiency of various estimators in dynamic panel data models," Journal of Econometrics, Elsevier, vol. 68(1), pages 53-78, July.
  6. James R. Markusen, 2004. "Multinational Firms and the Theory of International Trade," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262633078, June.
  7. Wheeler, David & Mody, Ashoka, 1992. "International investment location decisions : The case of U.S. firms," Journal of International Economics, Elsevier, vol. 33(1-2), pages 57-76, August.
  8. James R. Markusen, 1995. "The Boundaries of Multinational Enterprises and the Theory of International Trade," Journal of Economic Perspectives, American Economic Association, vol. 9(2), pages 169-189, Spring.
  9. Markusen, James R & Maskus, Keith E, 2002. "Discriminating among Alternative Theories of the Multinational Enterprise," Review of International Economics, Wiley Blackwell, vol. 10(4), pages 694-707, November.
  10. Kemegue, F. & Mohan, R., 2009. "US FDI flows to ASEAN-5: Do Geographic Neighbors Matter?," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 9(1).
  11. Arellano, Manuel & Bond, Stephen, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," Review of Economic Studies, Wiley Blackwell, vol. 58(2), pages 277-97, April.
  12. Robert E. Lipsey, 2002. "Home and Host Country Effects of FDI," NBER Working Papers 9293, National Bureau of Economic Research, Inc.
  13. Pooran Lall & David Norman & Allen Featherstone, 2003. "Determinants of US direct foreign investment in the Caribbean," Applied Economics, Taylor & Francis Journals, vol. 35(13), pages 1485-1496.
  14. Nickell, Stephen J, 1981. "Biases in Dynamic Models with Fixed Effects," Econometrica, Econometric Society, vol. 49(6), pages 1417-26, November.
  15. 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.
  16. Barrell, Ray & Pain, Nigel, 1996. "An Econometric Analysis of U.S. Foreign Direct Investment," The Review of Economics and Statistics, MIT Press, vol. 78(2), pages 200-207, May.
  17. 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.
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