US Foreign Direct Investments in the Eurozone: A Distance Analysis in View of Global Crisis. Evidence from the Manufacturing Sector

Xanthippe Adamoglou (), Vasiliki Kounnou () and Dimitris Kyrkilis ()
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Xanthippe Adamoglou: University of Macedonia
Vasiliki Kounnou: University of Macedonia
Dimitris Kyrkilis: University of Macedonia

Chapter 2 in Business Under Crisis Volume I, 2022, pp 17-39 from Palgrave Macmillan

Abstract: Abstract This research examines how MNEs effectively respond to the forces of the post-crisis environment in conjunction with distance. It is hypothesized that under crisis conditions, institutional distance has a negative impact and economic distance has a positive one on the FDI attraction of countries hit by crisis. The sample consists of 85 US foreign expansion cases to five Eurozone countries, namely, Greece, Ireland, Italy, Spain and Portugal, concluded between 2009 and 2018. The random effect model has been applied to the panel data set to test the model hypotheses. Results indicate that economic distance has a statistically significant negative effect on US outflows to Eurozone economies. Furthermore, institutional distance also has a negative effect on such outflows.

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pscchp:978-3-030-76567-5_2

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DOI: 10.1007/978-3-030-76567-5_2

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