Regional headquarters and foreign direct investment

被引：1
|
作者：
Gil-Pareja, Salvador [1 ,2 ]
Llorca-Vivero, Rafael [1 ,2 ]
Paniagua, Jordi [1 ,3 ]
机构：
[1] Univ Valencia, Dept Appl Econ 2, Valencia, Spain
[2] INTECO Res Unit, Valencia, Spain
[3] Univ Notre Dame, Kellogg Inst, Notre Dame, IN 46556 USA
来源：
REVIEW OF INTERNATIONAL ECONOMICS | 2022年 / 30卷 / 04期
关键词：
credit constraints; FDI; headquarters; intangible capital; spillovers; structural gravity; EMPIRICAL-EVIDENCE; ECONOMIC-GROWTH; BANKING CRISES; GRAVITY; TRADE; FDI; SPILLOVERS; COSTS; FIRMS; COMMUNICATION;
D O I：
10.1111/roie.12605
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Headquarters (HQs) provide a wide range of services, playing a fundamental role in Foreign Direct Investment (FDI). We use the structural gravity equation to investigate the effect of regional HQs on three dimensions of FDI (number of foreign projects, capital investment, and jobs) at the country-pair-sector level. Furthermore, we explore two underlying mechanisms that help explain this relationship: financial constraints and informational costs and uncertainty. We find a positive effect of regional HQs on FDI, as well as intercountry and intersector spillovers. Our results are robust, accounting for HQ intensity, domestic investment, and endogeneity tests.
引用
收藏
页码：1288 / 1310
页数：23
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