Soft, hard or smart power? International students and investments abroad
Marina Murat ()
Center for Economic Research (RECent) from University of Modena and Reggio E., Dept. of Economics "Marco Biagi"
This paper analyses the impact of education networks on the FDI from the United States and United Kingdom to 167 countries during 1999 - 2011. Proxies of networks are i nternational students in the US and UK and alumni associations abroad. Results show that international students boost the British FDI to their home countries, while their inf luence on American FDI is weak , except for students from developing economies and for international students who attended university during the Cold War. Alumni associations have a substantial impact on both American and British FDI , but especially on the latter. The stronger impact of education networks on British FDI is partly related to the different political and economic role s played by the US and UK on the world stage , and to their different use of soft and hard power. Results are robust to different econometric specifications.
Keywords: international students; alumni; bilateral FDI; education networks (search for similar items in EconPapers)
JEL-codes: F14 F20 I23 J24 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:mod:recent:107
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