期刊名称：Birkbeck Working Papers in Economics and Finance / School of Economics, Mathematics and Statistics, Birkbeck College
印刷版ISSN：1745-8587
出版年度：2003
卷号：2003
出版社：London University
摘要：The paper augments a standard export demand function in order to examine the impact of outward foreign direct investment (FDI) on United States export performance in services. It uses several panel data estimators: mean group, pseudo pooled mean group, and one-way and two-way fixed effects. It finds that the results are very sensitive to the exact empirical specification. While FDI is found to have a negative effect overall, for given levels of world demand and relative prices, this hides the presence of heterogeneity among different categories of services. Allowing for heterogeneity, it is possible to identify some arms-length categories of services in which exports are reduced as a result of higher levels of outward investment. In contrast, other types of service exports, notably receipts of royalties and affiliated services, are raised as a result of FDI
关键词：foreign direct investment; exports of services; panel data estimation
