Outward FDI and domestic investment in two industrialized countries
Dierk Herzer and
Economics Letters, 2008, vol. 99, issue 1, 139-143
Using cointegration techniques, we find that in the US, outward FDI has positive long-run effects on domestic investment. In Germany, this complementary relationship exists only in the short run. In the long run, outward FDI substitutes for German domestic investment.
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