FDI outflows and international trade nexus: Empirical evidence from country income groups
نویسندگان
چکیده
Relevance. Outward foreign direct investment (OFDI) and international trade are traditionally viewed as key drive of economic integration globalization. At the same time, relationship between these phenomena is ambiguous both from theoretical empirical points view. This study contributes to existing literature by analyzing outward for countries with different levels income per capita. Research objective. examines dynamic interplay OFDI in groups such low-income (LIC), low-middle (LMIC), upper-middle (UMIC), high-income (HIC) groups. Data methods. Based on World bank country classifications, data 161 divided into LIC, LMIC, UMIC, HIC period 1998-2019. The employs Difference (DFF-GMM) two-step System Generalized Method Moments (SYS-GMM) techniques explore OFDI-trade nexus. Results. results mixed significant providing support complementarity substitutive FDI. Findings suggest that nexus LIC have negative impact indicating a effect, but other economies, significantly positive complementary. Conclusions. Trade hence sound policy, aimed at increasing country’s competitiveness, should be adopted. However, UMIC economies mutually complementary facilitates improvement domestic economy. Thus, government promote policies sustain benefits interactions.
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ژورنال
عنوان ژورنال: R-Economy
سال: 2022
ISSN: ['2412-0731']
DOI: https://doi.org/10.15826/recon.2022.8.4.026