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Article Dans Une Revue Review of International Economics Année : 2023

Foreign direct investment under uncertainty evidence from a large panel of countries

Caroline Jardet
  • Fonction : Auteur
Menzie Chinn

Résumé

Abstract We examine the effect of uncertainty on foreign direct investment inflows for advanced, emerging market and developing countries over a 25‐year long (pre‐Covid) sample. Using a push‐pull framework, and controlling for both global and local factors, we find policy uncertainty has discernable and significant effects on inflows, varying in strength and direction between different groups of countries. Moreover, it is not host country uncertainty that seems to matter the most, but rather global uncertainty. Additionally, we find that high levels of uncertainty matter disproportionately. Finally, financial openness accentuates the impact of uncertainty for emerging market and developing countries.

Dates et versions

hal-04356033 , version 1 (20-12-2023)

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Caroline Jardet, Cristina Jude, Menzie Chinn. Foreign direct investment under uncertainty evidence from a large panel of countries. Review of International Economics, 2023, 31 (3), pp.854-885. ⟨10.1111/roie.12646⟩. ⟨hal-04356033⟩
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