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Trade and Investment in the Global Economy / James E. Anderson, Mario Larch, Yoto V. Yotov.
- Format:
- Book
- Author/Creator:
- Anderson, James E.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w23757.
- NBER working paper series no. w23757
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2017.
- Summary:
- We develop a dynamic multi-country trade model with foreign direct investment (FDI) in the form of non-rival technology capital. The model nests structural gravity sub-systems for FDI and trade, with accumulation/decumulation of phyisical and technology capital in transition to the steady state. The empirical importance of the FDI channel is demonstrated comparing actual aggregate cross-section data for 89 countries in 2011 to a hypothetical world without FDI. The gains from FDI amount to 9\% of world's welfare and to 11% of world's trade, unevenly distributed among winners and losers. Net exports of FDI substitute for export trade in the results.
- Notes:
- Print version record
- August 2017.
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