MARC Record from Library of Congress

LEADER: 02537cam a22003617a 4500
001 2005616196
003 DLC
005 20050128155544.0
007 cr |||||||||||
008 050128s2005 mau sb 000 0 eng
010 $a 2005616196
040 $aDLC$cDLC
043 $an-us---
050 00 $aHB1
100 1 $aDesai, Mihir A.$q(Mihir Arvind),$d1968-
245 10 $aForeign direct investment and the domestic capital stock$h[electronic resource] /$cMihir A. Desai, C. Fritz Foley, James R. Hines Jr.
260 $aCambridge, MA :$bNational Bureau of Economic Research,$cc2005.
490 1 $aNBER working paper series ;$vworking paper 11075
538 $aSystem requirements: Adobe Acrobat Reader.
538 $aMode of access: World Wide Web.
500 $aTitle from PDF file as viewed on 1/28/2005.
530 $aAlso available in print.
504 $aIncludes bibliographical references.
520 3 $a"This paper evaluates evidence of the impact of outbound foreign direct investment (FDI) on domestic investment rates. OECD countries with high rates of outbound FDI in the 1980s and 1990s exhibited lower domestic investment than other countries, which suggests that FDI and domestic investment are substitutes. U.S. time series data tell a very different story, however: years in which American multinational firms have greater foreign capital expenditures coincide with greater domestic capital spending by the same firms. One dollar of additional foreign capital spending is associated with 3.5 dollars of additional domestic capital spending in the time series, implying that foreign and domestic capital are complements in production by multinational firms. This effect is consistent with cross sectional evidence that firms whose foreign operations expand simultaneously expand their domestic operations, and suggests that interpretation of the OECD cross sectional evidence may be confounded by omitted variables"--National Bureau of Economic Research web site.
650 0 $aInvestments, Foreign$zOECD countries$xEconometric models.
650 0 $aCapital investments$zOECD countries$xEconometric models.
650 0 $aInvestments, American$xEconometric models.
650 0 $aCapital investments$zUnited States$xEconometric models.
700 1 $aFoley, C. Fritz.
700 1 $aHines, James R.
710 2 $aNational Bureau of Economic Research.
830 0 $aWorking paper series (National Bureau of Economic Research : Online) ;$vworking paper no. 11075.
856 40 $uhttp://papers.nber.org/papers/w11075