Arbeitspapier

Foreign Direct Investment, Capital Formation and Labour Costs: Theory and Evidence for Germany

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This paper shows that the liberalisation of foreign direct investment (FDI) tends to make the effect of labour costs on domestic investment and labour demand more negative. Using data from Germany, it then provides evidence that is consistent with this view. First, high unit labour costs increase FDI outflows and lower FDI inflows. Second, the effect of unit labour costs on domestic manufacturing investment was more negative in the high-FDI 1980s than in the low-FDI 1970s, and this change was concentrated in high-FDI industries. The implied effect on long-run labour demand is substantial.

Sprache
Englisch

Erschienen in
Series: IUI Working Paper ; No. 468

Klassifikation
Wirtschaft
International Monetary Arrangements and Institutions
Labor Force and Employment, Size, and Structure
Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
Thema
INVESTMENTS
LABOUR MARKET
Arbeitskosten
Auslandsinvestition
Kapitalmobilität
Finanzmarktregulierung
Theorie
Deutschland

Ereignis
Geistige Schöpfung
(wer)
Hatzius , Jan
Ereignis
Veröffentlichung
(wer)
The Research Institute of Industrial Economics (IUI)
(wo)
Stockholm
(wann)
1996

Handle
Letzte Aktualisierung
10.03.2025, 11:41 MEZ

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Objekttyp

  • Arbeitspapier

Beteiligte

  • Hatzius , Jan
  • The Research Institute of Industrial Economics (IUI)

Entstanden

  • 1996

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