The effect of inward FDI on outward FDI over time in China: A contingent and dynamic perspective |
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| Institution: | 1. University of International Business and Economics, Room 1113, Keyan Building, No. 10 HuixinDongjie, Chaoyang District, Beijing, 100029, China;2. Discipline of International Business, University of Sydney, Sydney, Australia;3. Zhongyuan Bank Co., Ltd, Zhengzhou, China;1. Cardiff Business School, Cardiff University, UK;2. DAN Department of Management and Organizational Studies, The University of Western Ontario, Canada;3. Management School, University of Sheffield, UK;4. School of Management, University of St Andrews, The Gateway, North Haugh, St Andrews, Fife, KY16 9RJ Scotland, UK;1. School of Management, Xi’an Jiaotong University, Xi’an, Shaanxi, China;2. Department of Management and Marketing, Hong Kong Polytechnic University, Hung Hom, Kowloon, Hong Kong Special Administrative Region;3. Institute for Advanced Study, Tongji University, Shanghai, China;4. Discipline of International Business, The University of Sydney, Sydney, Australia;1. School of Management, Zhejiang University, Hangzhou, 310058, China;2. Cardiff University Business School, Aberconway Building, Colum Drive, Cardiff, CF10 3EU, United Kingdom;3. Leeds University Business School, Maurice Keyworth Building, University of Leeds, Leeds, West Yorkshire, LS2 9JT, United Kingdom |
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| Abstract: | Drawing on the investment development path (IDP) framework and foreign direct investment (FDI) spillover literature, this study attempts to identify the contingent and dynamic effect of inward FDI (IFDI) on outward FDI (OFDI) at a provincial level. Using panel data from China, our findings reveal that the positive effect of IFDI on OFDI is stronger in provinces with high economic development, albeit at a diminishing rate over time. However, the level of corruption weakens the effect of IFDI on OFDI over time. Despite that, we find that the effect of IFDI on OFDI is not contingent on trade openness overall. By decomposing trade openness into two dimensions, that is, import intensity and export intensity, our findings indicate that the effect of IFDI on OFDI depends on export intensity, rather than import intensity. Our study provides insights into the complex effect of IFDI on OFDI from a contingent and dynamic perspective. |
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| Keywords: | Inward foreign direct investment Outward foreign direct investment Economic development Trade openness Corruption level |
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