Nominal and real volatility as determinants of FDI

被引：30

作者：

Cavallari, Lilia ^{[2
]}

d'Addona, Stefano ^{[1
]}

机构：

[1] Univ Roma Tre, Dept Int Studies, I-00145 Rome, Italy

[2] Univ Roma Tre, DIPES, I-00145 Rome, Italy

来源：

APPLIED ECONOMICS | 2013年 / 45卷 / 18期

关键词：

FDI; business cycle; output volatility; interest rate volatility; exchange rate volatility; FOREIGN DIRECT-INVESTMENT; EXCHANGE-RATE; ENTRY; RATES; MODEL; EXPECTATIONS; LEVEL; FIRMS;

D O I：

10.1080/00036846.2012.674206

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This article examines the role of country-specific sources of output and interest rate or exchange rate volatility in driving Foreign Direct Investment (FDI) activities. Building on a dataset with bilateral FDI flows among 24 Organization for Economic Co-operation and Development (OECD) economies over the period 1985-2007, we find that nominal and real volatility strongly deter foreign investments. Output and exchange rate volatility matter in particular for the decision whether to invest in a foreign country in the first place. Interest rate volatility mainly influences the amount of foreign investments.

引用

页码：2603 / 2610

页数：8

共 38 条

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