全球智库信息集成服务系统(G2TT): Eliminating the Pass-Through: Towards FDI Statistics that Better Capture the Financial and Economic Linkages between Countries

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w25029
来源ID	Working Paper 25029
	Eliminating the Pass-Through: Towards FDI Statistics that Better Capture the Financial and Economic Linkages between Countries
	Maria Borga; Cecilia Caliandro
发表日期	2018-09-17
出版年	2018
语种	英语
摘要	FDI plays a central role in managing global production networks, but FDI statistics also reflect other factors, including tax avoidance, that make it difficult to differentiate between FDI for “long-term” investments that serves as a source of growth and FDI that is purely financial and has little real economic impact as it merely passes through an economy. This latter FDI also obscures the ultimate sources and destinations of FDI. This paper addresses these challenges by developing a framework for consolidated FDI statistics based on the nationality of the MNE group that complements residency-based FDI statistics. While residency-based statistics are useful to identify where financial claims and liabilities are held, nationality-based statistics provide information on who makes the decisions, reaps the benefits, and bears the risk. Consolidated FDI statistics remove pass-through capital and are better for understanding ‘real’ financial integration between economies and for analysing the relationship between the financing of MNEs and their operations. While some countries produce separate FDI statistics for resident Special Purpose Entities (SPEs) to identify pass-through capital, we demonstrate that this only provides a partial view and that about one-quarter of the inward FDI positions in a selection of European countries reflects pass-through capital through non-SPEs.
主题	Macroeconomics ; International Economics ; International Factor Mobility ; Globalization and International Relations
URL	https://www.nber.org/papers/w25029
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/582703
推荐引用方式 GB/T 7714	Maria Borga,Cecilia Caliandro. Eliminating the Pass-Through: Towards FDI Statistics that Better Capture the Financial and Economic Linkages between Countries. 2018.

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
w25029.pdf（685KB）	智库出版物		限制开放	CC BY-NC-SA	浏览