Publicação
Structural change and foreign direct investment : globalization and regional economic integration
| Resumo: | This paper investigates flows of inward and outward foreign direct investment (FDI) and FDI-to-GDP ratios in a sample of 62 countries over a 30 year time span. Using several endogenous structural break procedures (allowing for one and two break points), we find that: (1) the great majority of the series have structural breaks in the last 15 years, (2) post-break FDI and FDI/GDP ratios are substantially higher than the pre-break values, and (3) most breaks seem to be related to globalization, regional economic integration, economic growth, or political instability. Static and dynamic panel-data analy- ses accounting for and/or addressing endogeneity, simultaneity, nonstationar- ity, heterogeneity and cross-sectional dependence show that FDI is negatively related to exchange rate volatility and GDP per capita, but positively related to some regional integration agreements, trade openness, GDP, and GDP growth. Most notably, the European Union is the only regional economic integration unit found to consistently have significant and positive effects on FDI. |
|---|---|
| Autores principais: | Pereira, Álvaro Santos |
| Outros Autores: | Jalles, João Tovar; Andresen, Martin A. |
| Assunto: | Openness Structural breaks Endogeneity Heterogeneity Cross sectional dependence Common correlated effects |
| Ano: | 2012 |
| País: | Portugal |
| Tipo de documento: | artigo |
| Tipo de acesso: | acesso restrito |
| Instituição associada: | Universidade de Lisboa |
| Idioma: | inglês |
| Origem: | Repositório da Universidade de Lisboa |
| _version_ | 1866809447378059264 |
|---|---|
| author | Pereira, Álvaro Santos |
| author2 | Jalles, João Tovar Andresen, Martin A. |
| author2_role | author author |
| author_facet | Pereira, Álvaro Santos Jalles, João Tovar Andresen, Martin A. |
| author_role | author |
| contributor_name_str_mv | Repositório Científico de Acesso Aberto da ULisboa |
| country_str | PT |
| creators_json_txt | [{\"Person.name\":\"Pereira, Álvaro Santos\"},{\"Person.name\":\"Jalles, João Tovar\"},{\"Person.name\":\"Andresen, Martin A.\"}] |
| datacite.contributors.contributor.contributorName.fl_str_mv | Repositório Científico de Acesso Aberto da ULisboa |
| datacite.creators.creator.creatorName.fl_str_mv | Pereira, Álvaro Santos Jalles, João Tovar Andresen, Martin A. |
| datacite.date.Accepted.fl_str_mv | 2012-04-01T00:00:00Z |
| datacite.date.available.fl_str_mv | 2018-06-21T12:33:11Z |
| datacite.date.embargoed.fl_str_mv | 2018-06-21T12:33:11Z |
| datacite.rights.fl_str_mv | http://purl.org/coar/access_right/c_16ec |
| datacite.subjects.subject.fl_str_mv | Openness Structural breaks Endogeneity Heterogeneity Cross sectional dependence Common correlated effects |
| datacite.titles.title.fl_str_mv | Structural change and foreign direct investment : globalization and regional economic integration |
| dc.contributor.none.fl_str_mv | Repositório Científico de Acesso Aberto da ULisboa |
| dc.creator.none.fl_str_mv | Pereira, Álvaro Santos Jalles, João Tovar Andresen, Martin A. |
| dc.date.Accepted.fl_str_mv | 2012-04-01T00:00:00Z |
| dc.date.available.fl_str_mv | 2018-06-21T12:33:11Z |
| dc.date.embargoed.fl_str_mv | 2018-06-21T12:33:11Z |
| dc.format.none.fl_str_mv | application/pdf |
| dc.identifier.none.fl_str_mv | http://hdl.handle.net/10400.5/15675 |
| dc.language.none.fl_str_mv | eng |
| dc.publisher.none.fl_str_mv | Springer Verlag |
| dc.rights.none.fl_str_mv | http://purl.org/coar/access_right/c_16ec |
| dc.subject.none.fl_str_mv | Openness Structural breaks Endogeneity Heterogeneity Cross sectional dependence Common correlated effects |
| dc.title.fl_str_mv | Structural change and foreign direct investment : globalization and regional economic integration |
| dc.type.none.fl_str_mv | http://purl.org/coar/resource_type/c_6501 |
| description | This paper investigates flows of inward and outward foreign direct investment (FDI) and FDI-to-GDP ratios in a sample of 62 countries over a 30 year time span. Using several endogenous structural break procedures (allowing for one and two break points), we find that: (1) the great majority of the series have structural breaks in the last 15 years, (2) post-break FDI and FDI/GDP ratios are substantially higher than the pre-break values, and (3) most breaks seem to be related to globalization, regional economic integration, economic growth, or political instability. Static and dynamic panel-data analy- ses accounting for and/or addressing endogeneity, simultaneity, nonstationar- ity, heterogeneity and cross-sectional dependence show that FDI is negatively related to exchange rate volatility and GDP per capita, but positively related to some regional integration agreements, trade openness, GDP, and GDP growth. Most notably, the European Union is the only regional economic integration unit found to consistently have significant and positive effects on FDI. |
| dirty | 0 |
| eu_rights_str_mv | restrictedAccess |
| format | article |
| fulltext.url.fl_str_mv | https://repositorio.ulisboa.pt/bitstreams/3fed0f1f-5629-4412-9ea7-a546ca529e87/download |
| id | ul_fe14aa4ffbf9976bdfac305d7ce9bf56 |
| identifier.url.fl_str_mv | http://hdl.handle.net/10400.5/15675 |
| instacron_str | ul |
| institution | Universidade de Lisboa |
| instname_str | Universidade de Lisboa |
| language | eng |
| network_acronym_str | ul |
| network_name_str | Repositório da Universidade de Lisboa |
| oai_identifier_str | oai:repositorio.ulisboa.pt:10400.5/15675 |
| organization_str_mv | urn:organizationAcronym:ul |
| person_str_mv | Pereira, Álvaro Santos Jalles, João Tovar Andresen, Martin A. |
| publishDate | 2012 |
| publisher.none.fl_str_mv | Springer Verlag |
| reponame_str | Repositório da Universidade de Lisboa |
| repository_id_str | urn:repositoryAcronym:ul |
| service_str_mv | urn:repositoryAcronym:ul |
| spelling | engSpringer Verlagpt_PTThis paper investigates flows of inward and outward foreign direct investment (FDI) and FDI-to-GDP ratios in a sample of 62 countries over a 30 year time span. Using several endogenous structural break procedures (allowing for one and two break points), we find that: (1) the great majority of the series have structural breaks in the last 15 years, (2) post-break FDI and FDI/GDP ratios are substantially higher than the pre-break values, and (3) most breaks seem to be related to globalization, regional economic integration, economic growth, or political instability. Static and dynamic panel-data analy- ses accounting for and/or addressing endogeneity, simultaneity, nonstationar- ity, heterogeneity and cross-sectional dependence show that FDI is negatively related to exchange rate volatility and GDP per capita, but positively related to some regional integration agreements, trade openness, GDP, and GDP growth. Most notably, the European Union is the only regional economic integration unit found to consistently have significant and positive effects on FDI.application/pdfpt_PTStructural change and foreign direct investment : globalization and regional economic integrationPereira, Álvaro SantosJalles, João TovarAndresen, Martin A.HostingInstitutionOrganizationalRepositório Científico de Acesso Aberto da ULisboae-mailmailto:repositorio@reitoria.ulisboa.ptrepositorio@reitoria.ulisboa.ptISSNIsPartOf1617-982X (print)ISSNIsPartOf1617-9838 (online)DOIIsPartOf10.1007/s10258-011-0077-92018-06-21T12:33:11Z2012-042012-04-01T00:00:00ZHandlehttp://hdl.handle.net/10400.5/15675http://purl.org/coar/access_right/c_16ecrestricted accessOpennessStructural breaksEndogeneityHeterogeneityCross sectional dependenceCommon correlated effects569791 bytesliteraturehttp://purl.org/coar/resource_type/c_6501journal articlehttp://purl.org/coar/access_right/c_16ecapplication/pdffulltexthttps://repositorio.ulisboa.pt/bitstreams/3fed0f1f-5629-4412-9ea7-a546ca529e87/downloadPortuguese Economic Journal1113582Lisboa |
| spellingShingle | Structural change and foreign direct investment : globalization and regional economic integration Pereira, Álvaro Santos Openness Structural breaks Endogeneity Heterogeneity Cross sectional dependence Common correlated effects |
| status | SINGLETON |
| subject.fl_str_mv | Openness Structural breaks Endogeneity Heterogeneity Cross sectional dependence Common correlated effects |
| title | Structural change and foreign direct investment : globalization and regional economic integration |
| title_full | Structural change and foreign direct investment : globalization and regional economic integration |
| title_fullStr | Structural change and foreign direct investment : globalization and regional economic integration |
| title_full_unstemmed | Structural change and foreign direct investment : globalization and regional economic integration |
| title_short | Structural change and foreign direct investment : globalization and regional economic integration |
| title_sort | Structural change and foreign direct investment : globalization and regional economic integration |
| topic | Openness Structural breaks Endogeneity Heterogeneity Cross sectional dependence Common correlated effects |
| topic_facet | Openness Structural breaks Endogeneity Heterogeneity Cross sectional dependence Common correlated effects |
| url | http://hdl.handle.net/10400.5/15675 |
| visible | 1 |