Valuation of foreign direct investment positions - final report

Rodrigo Oliveira-Soares, Luis de la Fuente Layos, Neil Bannister, Ciara Williams-Fletcher, Márcio Mateus, Dell’mour, René, Rini Hillebrand, Erika Veitzné Kenyeres, Valeria Pellegrini, Dominique Nivat, Patricia Portero, Stephen McDonagh, Sebastian Hügelschäffer, Roger De Boeck and Beatriz Ruiz González

No 4, Statistics Paper Series from European Central Bank

Abstract: The mandate of the Task Force on Valuation of Foreign Direct Investment (FDI) Positions was to review the methods to value direct investment positions stated in Annex III of the Guideline ECB/2011/23 on External Statistics. In particular, the work of the Task Force was focused on reviewing recent developments that may justify amendments to the current method and assessing whether new methods to be applied in the national contributions to the euro area aggregate would lead to a more reliable international investment position (i.i.p.), in particular by increasing the consistency in the valuation of FDI assets and liabilities. The report concluded that in some cases where the use of own funds at book value (OFBV) data would lead to significant biases in the national net i.i.p., other valuation methods than OFBV could be used, adding that national compilers shall exchange information on those positions with the other relevant Member State(s). National compilers should then consider, on a case-bycase basis, adjusting the valuation of those positions in order to strive for a consistent recording of these investments by counterpart EU countries. The Task Force JEL Classification: A39, C82, F21

Keywords: balance of payments statistics; FDI valuation; foreign direct investments statistics; market value; own funds at book value (search for similar items in EconPapers)
Date: 2013-12
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