Arbeitspapier
International financial competitiveness and incentives to foreign direct investment
In this paper an index of financial competitiveness is calculated that corresponds to the market-to-book ratio of inward FDI stocks. For a panel of five advanced economies from 1980 to 2006 it is shown that price competitiveness, stable inflation rates and registered patents have a positive impact on the index. Institutional factors like EMU membership or Anglo-Saxon legislation also play a role. Financial competitiveness in turn encourages FDI inflows whereas it benefits fixed investment relative to M&A. There is also some evidence that an innovative environment accelerates investment decisions by promoting competition among investors.
- Language
-
Englisch
- Bibliographic citation
-
Series: Discussion Paper Series 1 ; No. 2008,29
- Classification
-
Wirtschaft
Open Economy Macroeconomics
Multinational Firms; International Business
International Investment; Long-term Capital Movements
- Subject
-
Competitiveness
foreign direct investment
international integration
Finanzsektor
Standortwettbewerb
Index
Direktinvestition
Frankreich
Deutschland
Japan
Großbritannien
USA
- Event
-
Geistige Schöpfung
- (who)
-
Jochem, Axel
- Event
-
Veröffentlichung
- (who)
-
Deutsche Bundesbank
- (where)
-
Frankfurt a. M.
- (when)
-
2008
- Handle
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Jochem, Axel
- Deutsche Bundesbank
Time of origin
- 2008
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