2024-03-28T22:18:43Zhttps://repositorio.bde.es/oai/requestoai:repositorio.bde.es:123456789/101522023-12-11T11:58:14Zcom_123456789_5661com_123456789_21col_123456789_5662
Repositorio Institucional
author
Sastre, Teresa
author
Heras Recuero, Laura
2019-12-26T12:29:35Z
2019-12-26T12:29:35Z
2019-10-18
ISSN: 1579-8666 (en línea)
https://repositorio.bde.es/handle/123456789/10152
000468139
DTRA-201933-eng
Previous research using country or firm data has been inconclusive on the sign of the relation between domestic and foreign investment. Though several hypotheses have been formulated, the factors determining the sign of this relationship are not clearly identified yet. In this paper we explore the role of industry integration in determining the relation between outward foreign direct investment (FDI) and domestic investment by using disaggregated data at the industry level and several indicators of industry integration. The proportion of intangible investment is used as a proxy of horizontal integration and several measures of participation in Global Value Chains (GVCs) as proxies of vertical integration. The empirical results confirm that the relationship between outward FDI and domestic investment is very varied and differs across industries and countries. That relation is positive (complementary) for those industries with low intensity in intangible investment and high forward integration in GVCs –two features of vertically integrated industries– and becomes negative for those industries with high intangible investment (usually more horizontally integrated).
eng
Reconocimiento-NoComercial-CompartirIgual 4.0 Internacional (CC BY-NC-SA 4.0)
Investment
Foreign direct investment
Vertical and horizontal integration
Global value chains
Inversión
Inversión extranjera directa
Integración vertical y horizontal
Cadenas globales de valor
Domestic and foreign investment in advanced economies. The role of industry integration
Documento de trabajo
URL
https://repositorio.bde.es/bitstream/123456789/10152/1/dt1933e.pdf
File
MD5
6d30a41d51dfbf9150bd8c6168d56279
1355786
application/pdf
dt1933e.pdf
URL
https://repositorio.bde.es/bitstream/123456789/10152/2/dt1933e.pdf.txt
File
MD5
60399fe82a73d2bbaeab06149f5472a3
158828
text/plain
dt1933e.pdf.txt