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来源类型Working Paper
规范类型报告
DOI10.3386/w21847
来源IDWorking Paper 21847
Migrants, Ancestors, and Investments
Konrad B. Burchardi; Thomas Chaney; Tarek A. Hassan
发表日期2016-01-11
出版年2016
语种英语
摘要We use 130 years of data on historical migrations to the United States to show a causal effect of the ancestry composition of US counties on foreign direct investment (FDI) sent and received by local firms. To isolate the causal effect of ancestry on FDI, we build a simple reduced-form model of migrations: Migrations from a foreign country to a US county at a given time depend on (i) a push factor, causing emigration from that foreign country to the entire United States, and (ii) a pull factor, causing immigration from all origins into that US county. The interaction between time-series variation in origin-specific push factors and destination-specific pull factors generates quasi-random variation in the allocation of migrants across US counties. We find that a doubling of the number of residents with ancestry from a given foreign country relative to the mean increases by 4 percentage points the probability that at least one local firm engages in FDI with that country. We present evidence this effect is primarily driven by a reduction in information frictions, and not by better contract enforcement, taste similarities, or a convergence in factor endowments.
主题International Economics ; International Factor Mobility ; Financial Economics ; Financial Markets ; Labor Economics ; Unemployment and Immigration ; Industrial Organization ; Market Structure and Firm Performance ; History ; Labor and Health History ; Development and Growth ; Development
URLhttps://www.nber.org/papers/w21847
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/579521
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Konrad B. Burchardi,Thomas Chaney,Tarek A. Hassan. Migrants, Ancestors, and Investments. 2016.
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