The investment development path in space |
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Authors: | Alexandros Ragoussis |
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Institution: | 1.OECD Statistics Directorate,Paris cedex 16,France |
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Abstract: | Although spatial hypotheses are not new in the FDI literature, their examination in the dynamic context of the ‘investment
development path’ (IDP) provides some new insights. In this paper, we examine proximity to markets at different stages of
the IDP as a determinant of a country’s own foreign direct investment (FDI) pattern. Our main contribution lies in the empirical
estimation of the importance of spatial determinants for the emergence of inward and outward FDI. Our results support that
distance to countries at higher stages up the IDP which are better integrated into the world FDI network, has a negative effect
on the probability of transition from any stage of the IDP to the next. The magnitude of the impact is generally increasing
in the stage of the surrounding markets. |
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Keywords: | |
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