Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/128141 
Erscheinungsjahr: 
2016
Schriftenreihe/Nr.: 
Kiel Working Paper No. 2029
Verlag: 
Kiel Institute for the World Economy (IfW), Kiel
Zusammenfassung: 
We estimate gravity-type models to assess the effects of financial market development in the host and source countries on bilateral FDI stocks. We address potential reverse causality, inter alia by performing instrumental variable estimations and restricting the sample to observations where reverse causality, if existent, should be less relevant. Our major and robust finding is that bilateral FDI increases with better developed financial markets in both the host and the source country. Furthermore, for developing host countries, we find evidence that financial market development in source and host countries function as substitutes for each other.
Schlagwörter: 
foreign direct investment
financial market development
gravity model
JEL: 
F21
G20
O16
Dokumentart: 
Working Paper

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