What Is Real and What Is Not in the Global FDI Network?

Publikation: Working paperForskning

Standard

What Is Real and What Is Not in the Global FDI Network? / Damgaard, Jannick; Elkjaer, Thomas ; Johannesen, Niels.

International Monetary Fund, 2019.

Publikation: Working paperForskning

Harvard

Damgaard, J, Elkjaer, T & Johannesen, N 2019 'What Is Real and What Is Not in the Global FDI Network?' International Monetary Fund. <https://ssrn.com/abstract=3523147>

APA

Damgaard, J., Elkjaer, T., & Johannesen, N. (2019). What Is Real and What Is Not in the Global FDI Network? International Monetary Fund. IMF Working Papers Bind 19 Nr. 274 https://ssrn.com/abstract=3523147

Vancouver

Damgaard J, Elkjaer T, Johannesen N. What Is Real and What Is Not in the Global FDI Network? International Monetary Fund. 2019 dec.

Author

Damgaard, Jannick ; Elkjaer, Thomas ; Johannesen, Niels. / What Is Real and What Is Not in the Global FDI Network?. International Monetary Fund, 2019. (IMF Working Papers; Nr. 274, Bind 19).

Bibtex

@techreport{a626cc8b2cf146f7874e9953890eee55,
title = "What Is Real and What Is Not in the Global FDI Network?",
abstract = "Macro statistics on foreign direct investment (FDI) are blurred by offshore centers withenormous inward and outward investment positions. This paper uses several new datasources, both macro and micro, to estimate the global FDI network while disentangling realinvestment and phantom investment and allocating real investment to ultimate investoreconomies. We find that phantom investment into corporate shells with no substance and noreal links to the local economy may account for almost 40 percent of global FDI. Ignoringphantom investment and allocating real investment to ultimate investors increases theexplanatory power of standard gravity variables by around 25 percent.",
keywords = "Faculty of Social Sciences, Development, Offshore financial centers, Foreign investment, Economic integration, Economic growth, Global FDI Network, Special Purpose Entities, Phantom FDI, Real FDI, WP, FDI, total FDI, SPEs, ultimate owner, Orbis",
author = "Jannick Damgaard and Thomas Elkjaer and Niels Johannesen",
year = "2019",
month = dec,
language = "English",
series = "IMF Working Papers",
publisher = "International Monetary Fund",
number = "274",
address = "United States",
type = "WorkingPaper",
institution = "International Monetary Fund",

}

RIS

TY - UNPB

T1 - What Is Real and What Is Not in the Global FDI Network?

AU - Damgaard, Jannick

AU - Elkjaer, Thomas

AU - Johannesen, Niels

PY - 2019/12

Y1 - 2019/12

N2 - Macro statistics on foreign direct investment (FDI) are blurred by offshore centers withenormous inward and outward investment positions. This paper uses several new datasources, both macro and micro, to estimate the global FDI network while disentangling realinvestment and phantom investment and allocating real investment to ultimate investoreconomies. We find that phantom investment into corporate shells with no substance and noreal links to the local economy may account for almost 40 percent of global FDI. Ignoringphantom investment and allocating real investment to ultimate investors increases theexplanatory power of standard gravity variables by around 25 percent.

AB - Macro statistics on foreign direct investment (FDI) are blurred by offshore centers withenormous inward and outward investment positions. This paper uses several new datasources, both macro and micro, to estimate the global FDI network while disentangling realinvestment and phantom investment and allocating real investment to ultimate investoreconomies. We find that phantom investment into corporate shells with no substance and noreal links to the local economy may account for almost 40 percent of global FDI. Ignoringphantom investment and allocating real investment to ultimate investors increases theexplanatory power of standard gravity variables by around 25 percent.

KW - Faculty of Social Sciences

KW - Development

KW - Offshore financial centers

KW - Foreign investment

KW - Economic integration

KW - Economic growth

KW - Global FDI Network

KW - Special Purpose Entities

KW - Phantom FDI

KW - Real FDI

KW - WP

KW - FDI

KW - total FDI

KW - SPEs

KW - ultimate owner

KW - Orbis

M3 - Working paper

T3 - IMF Working Papers

BT - What Is Real and What Is Not in the Global FDI Network?

PB - International Monetary Fund

ER -

ID: 231707672