The DOI matches its Crossref record; 3 of the 3 references it cites were found in a registry or an index.
An Assignment Theory of Foreign Direct Investment
Abstract
We develop an assignment theory to analyse the volume and composition of foreign direct investment (FDI). Firms conduct FDI by either engaging in greenfield investment or in cross-border acquisitions. Cross-border acquisitions involve firms trading heterogeneous corporate assets to exploit complementarities, while greenfield FDI involves setting up a new production division in the foreign country. In equilibrium, greenfield FDI and cross-border acquisitions coexist within the same industry, but the composition of FDI between these modes varies with firm and country characteristics. Firms engaging in greenfield investment are systematically more efficient than those engaging in cross-border acquisitions. Furthermore, most FDI takes the form of cross-border acquisitions when production-cost differences between countries are small, while greenfield investment plays a more important role for FDI from high-cost into low-cost countries. These results capture important features of the data.
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Cites
Export Versus FDI with Heterogeneous Firms
Helpman, E., Melitz, M. J., & Yeaple, S. R. (2004) · American Economic Review · doi:10.1257/000282804322970814 · Cited by 4,030 · cited 1×
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Melitz, M. (2002) · doi:10.3386/w8881 · Cited by 2,996
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Bernard, A. B., Eaton, J., Jensen, J. B., & Kortum, S. (2003) · American Economic Review · doi:10.1257/000282803769206296 · Cited by 2,980
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Cited by
Export Versus FDI with Heterogeneous Firms
Helpman, E., Melitz, M. J., & Yeaple, S. R. (2004) · American Economic Review · doi:10.1257/000282804322970814 · Cited by 4,030
Self-citationPlants and Productivity in International Trade
Bernard, A. B., Eaton, J., Jensen, J. B., & Kortum, S. (2003) · American Economic Review · doi:10.1257/000282803769206296 · Cited by 2,980
Sun, S. L., Peng, M. W., Ren, B., & Yan, D. (2012) · Journal of World Business · doi:10.1016/j.jwb.2010.10.015 · Cited by 331
Matching and Inequality in the World Economy
Costinot, A., & Vogel, J. (2010) · Journal of Political Economy · doi:10.1086/655858 · Cited by 317
Multinationals and Corporate Social Responsibility in Host Countries: Does Distance Matter?
Campbell, J. T., Eden, L., & Miller, S. (2011) · SSRN Electronic Journal · doi:10.2139/ssrn.1928016 · Cited by 279
Metadata
- Authors
- NOCKE, V., & YEAPLE, S.
- Venue
- Review of Economic Studies
- Publisher
- Oxford University Press (OUP)
- Published
- 2008-04
- Volume
- 75
- Issue
- 2
- Pages
- 529-557
- ISSN
- 0034-6527 (ISSN-L)
- 1467-937X
- OpenAlex
- W3124615324
- Cited by
- 238
- References
- 3
- FWCI
- 50.92
- Type
- journal article
- Language
- en
- Open access
- closed
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
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