| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP8079 |
| DP8079 Do Natural Resources Attract FDI? Evidence from Non-Stationary Sector-Level Data | |
| Frederick van der Ploeg; Steven Poelhekke | |
| 发表日期 | 2010-10-24 |
| 出版年 | 2010 |
| 语种 | 英语 |
| 摘要 | A new and extensive panel of outward foreign direct investment (FDI) at the sector level is used to estimate the determinants of non-resource and resource FDI. Since FDI is I(1), we estimate panel error-correction models of FDI with spatial lags for FDI and market potential. Our main result is that subsoil assets boost resource FDI, but crowd out non-resource FDI. The effect on non-resource FDI dominates, so that aggregate FDI is less in resource-rich countries. Spatial lags aggravate this crowding out of non-resource FDI. In addition, we find that (i) resource FDI is mainly vertical whereas other FDI is of the export-fragmentation variety; (ii) trade openness, free trade agreements and institutional quality do not impact non-resource FDI but institutional quality does have a positive effect on resource FDI; and (iii) the short-run dynamics comes mostly from shocks to FDI itself. Our main and ancillary results are robust to different measures of resource reserves and the oil price and to allowing for sample selection bias. |
| 主题 | International Trade and Regional Economics |
| 关键词 | Co-integration tests External margin Hydrocarbon reserves Outward sector level fdi Sample selection bias Spatial econometrics Subsoil assets |
| URL | https://cepr.org/publications/dp8079 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/536916 |
| 推荐引用方式 GB/T 7714 | Frederick van der Ploeg,Steven Poelhekke. DP8079 Do Natural Resources Attract FDI? Evidence from Non-Stationary Sector-Level Data. 2010. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
