| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w4815 |
| 来源ID | Working Paper 4815 |
| Foreign Direct Investment, Exchange Rate Variability and Demand Uncertainty | |
| Linda S. Goldberg; Charles D. Kolstad | |
| 发表日期 | 1994-08-01 |
| 出版年 | 1994 |
| 语种 | 英语 |
| 摘要 | Variable real exchange rates influence the country choice for location of production facilities by a multinational enterprise. With risk averse investors and fixed productive factors, a parent company should not be indifferent to the choice of production capacity location, even when the expected costs of production are identical across countries. If a non-negative correlation exists between real export demand shocks and real exchange rate shocks, the multinational will optimally locate some of its productive capacity abroad. The share of production capacity optimally located abroad increases as exchange rate volatility rises and as export demand shocks become more correlated. These theoretical results are confirmed by empirical analysis of quarterly United States bilateral foreign-direct- investment flows with Canada, Japan, and the United Kingdom. |
| URL | https://www.nber.org/papers/w4815 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/562222 |
| 推荐引用方式 GB/T 7714 | Linda S. Goldberg,Charles D. Kolstad. Foreign Direct Investment, Exchange Rate Variability and Demand Uncertainty. 1994. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w4815.pdf（428KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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