THE EXPORT PERFORMANCE OF THE 2004 EU ENLARGEMENT ECONOMIES SINCE THE 1990S: A CONSTANT MARKET SHARE ANALYSIS

Maria Paula Fontoura and Pedro Serôdio

No 2016/16, Working Papers Department of Economics from ISEG - Lisbon School of Economics and Management, Department of Economics, Universidade de Lisboa

Abstract: In this paper, we aim at contributing to the new field of research that intends to bring up-to-date the tools and statistics currently used to look to the current reality given by Global Value Chains (GVC) in international trade and Foreign Direct Investment (FDI). Namely, we make use of the most recent data published by the World Input-Output Database to suggest indicators to measure the participation and net gains of countries by being a part of GVC; and use those indicators in a pooled-regression model to estimate determinants of FDI stocks in Organization for Economic Co-operation and Development (OECD)-member countries. We conclude that one of the measures proposed proves to be statistically significant in explaining the bilateral stock of FDI in OECD countries, meaning that the higher the transnational income generated between two given countries by GVC, taken as a proxy to the participation of those countries in GVC, the higher one could expect the FDI entering those countries to be. The regression also shows the negative impact of the global financial crisis that started in 2009 in the world’s bilateral FDI stocks and, additionally, the particular and significant role played by the People’s Republic of China in determining these stocks. Key Words : International fragmentation of production, Globalization, Global Value Chains, Foreign Direct Investment, Pooled-regression model

JEL-codes: C33 C67 F14 F21 F60 (search for similar items in EconPapers)
Date: 2016-09
New Economics Papers: this item is included in nep-int
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Journal Article: The Export Performance of the 2004 EU Enlargement Economies since the 1990s: a Constant Market Share Analysis (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:ise:isegwp:wp162016

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