Gains from FDI inflows with incomplete information

Assaf Razin · Efraim Sadka

44 citations0/0 files storedEconomics Letters

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International Business and FDI Global trade and economics Global Financial Crisis and Policies

Abstract

The paper develops an international macroeconomic model of FDI flows with a unique feature: a hands-on management ability to react in real time to changing economic environments. Anticipating this advantage, foreign direct investors can outbid other investors in a certain industry in which they specialize in the source country. The model can explain both two-way FDI flows among developed countries and one-way FDI flows from developed to developing countries. The unique gains from FDI to the host country stem from the increased efficiency of domestic investment.

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References

1994Why is Capital so Immobile Internationally?: Possible Explanations and Implications for Capital Income Taxation 1999The Determinants of Cross-Border Equity Flows 1998A pecking order of capital inflows and international tax principles 2003Lending booms, sharp reversals and real exchange rate dynamics

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