Evidence on the impact of exchange rate regimes on bilateral FDI flows
Evidence on the impact of exchange rate regimes on bilateral FDI flows
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DOI：
10.1108/01443581111152382
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发表时间：
2011-08
影响因子：
1.7
通讯作者：
A. Abbott;G. Vita
中科院分区：
文献类型：
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作者：
A. Abbott;G. Vita
目的 - 本文的目的是研究一系列国家对汇率制度组合对双边外国直接投资 (FDI) 流量的影响。设计/方法/方法——作者使用了 1980 年至 2003 年期间 27 个经合组织和非经合组织高收入国家的面板数据。系统广义矩量方法框架内动态面板模型的工具变量估计使我们能够控制潜在的相关性问题和内生性偏差。研究结果——本文发现货币联盟是最有利于跨境投资的政策框架。作为欧洲货币联盟的成员，似乎还可以刺激浮动货币国家更多的外国直接投资流量。 原创性/价值 - 这种贡献还通过最近开发的“自然”或“自然”货币的比较使用来区分。
Purpose - The purpose of this paper is to investigate the impact of a menu of country-pair exchange rate regime combinations upon bilateral foreign direct investment (FDI) flows. Design/methodology/approach - The authors use panel data from 27 OECD and non-OECD high income countries for the period 1980 to 2003. Instrumental variable estimation of a dynamic panel model within a system generalised methods of moments framework allows us to control for both potential correlation issues and endogeneity bias. Findings - This paper finds that a currency union is the policy framework most conducive to cross-border investment. Being a member of EMU also appears to spur greater FDI flows with countries floating their currency Originality/value - The contribution is also distinguished by the comparative use of recently developed “natural” or