Mostrar el registro sencillo del ítem

dc.contributor.authorCamarero, Mariam
dc.contributor.authorMoliner, Sergi
dc.contributor.authorTamarit, Cecilio
dc.date.accessioned2024-05-03T13:09:15Z
dc.date.available2024-05-03T13:09:15Z
dc.date.issued2024-02-07
dc.identifier.citationEuropean Commission, Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs, Camarero, M., Moliner, S., Tamarit, C., A fresh assessment of the depth of the “euro effect\ on US FDI , Publications Office of the European Union, 2024, https://data.europa.eu/doi/10.2873/326776ca_CA
dc.identifier.isbn978-92-68-12846-6
dc.identifier.issn2529-332X
dc.identifier.urihttp://hdl.handle.net/10234/207215
dc.description.abstractThis paper analyzes how European monetary integration has affected US outward FDI (OFDI), which we call the “euro effect". To this aim, we consider the determinants of OFDI for a large group of 56 host countries in different continents from 1985-2019, zooming in on the European case, where we analyze different country groupings. To capture the “euro effect" we define a dummy variable that considers Europe’s whole monetary integration process. Furthermore, we estimate a benchmark specification of a gravity equation derived from a previous Bayesian Modelling Averaging (BMA) analysis using two estimators, PPML and G-PPML, for robustness. We find that both horizontal and vertical FDI motives explain US FDI in all country groups. As for the euro effect, we find that at a worldwide level, the Single Market had a larger impact on US FDI than the euro. However, once we focus only on the Euro Area (EA), we show that the single currency has prominently promoted US FDI, with effects ranging between 15% and 64%. However, while the euro has favored intra-industry VFDI strategies in the EA core, it has mainly stimulated pure VFDI in the periphery. Our results are robust to different econometric specifications and estimators. Finally, although both PPML and G-PPML estimators perform similarly well, the latter provides room for efficiency gains.ca_CA
dc.format.extent54 p.ca_CA
dc.format.mimetypeapplication/pdfca_CA
dc.language.isoengca_CA
dc.publisherEuropean Unionca_CA
dc.relation.isPartOfUS FDI , Publications Office of the European Union, 2024ca_CA
dc.rights© European Union, 2024ca_CA
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/ca_CA
dc.subjectFDI determinantsca_CA
dc.subjectUSca_CA
dc.subjectEuropean Unionca_CA
dc.subjectBMAca_CA
dc.subjectPPMLca_CA
dc.subjectG-PPMLca_CA
dc.titleA Fresh Assessment of the Depth of the “Euro Effect" on US FDIca_CA
dc.typeinfo:eu-repo/semantics/conferenceObjectca_CA
dc.identifier.doi10.2873/326776
dc.rights.accessRightsinfo:eu-repo/semantics/openAccessca_CA
dc.relation.publisherVersionhttps://EconPapers.repec.org/RePEc:bda:wpsmep:wp2024/18ca_CA
dc.type.versioninfo:eu-repo/semantics/publishedVersionca_CA


Ficheros en el ítem

Thumbnail

Este ítem aparece en la(s) siguiente(s) colección(ones)

Mostrar el registro sencillo del ítem

© European Union, 2024
Excepto si se señala otra cosa, la licencia del ítem se describe como: © European Union, 2024