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Foreign direct investment and trade: a causality analysis
dc.creator | Bajo Rubio, Óscar | es_ES |
dc.creator | Montero Muñoz, María | es_ES |
dc.date.accessioned | 2016-05-10T07:40:07Z | |
dc.date.available | 2016-05-10T07:40:07Z | |
dc.date.issued | 1999 | |
dc.identifier.uri | https://hdl.handle.net/2454/20568 | |
dc.description.abstract | We analyse in this paper the relationship between outward FDI and exports, with Spanish quarterly data for the period 1977-1992. The empirical methodology makes use of Granger-causality tests in a cointegration framework, where the order of lags for each variable has been selected by means of Hsiao’s sequential approach. The tests have been performed both in a bivariate and multivariate setting, in the latter case including as additional variables a proxy for world income and the relative price of exports. Since cointegration between outward FDI and exports was found, error-correction mechanisms under three alternative specifications were included, which allowed us to discriminate between short- and long-run Granger-causality. Our results point to the existence of long-run Granger-causality from outward FDI to exports, according to a complementary relationship, for the Spanish case during the period of analysis. | en |
dc.format.extent | 23 p. | |
dc.format.mimetype | application/pdf | en |
dc.language.iso | eng | en |
dc.relation.ispartofseries | Documentos de Trabajo DE - ES Lan Gaiak | es |
dc.relation.ispartofseries | 9902 | en |
dc.rights | CC Attribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0) | en |
dc.rights.uri | https://creativecommons.org/licenses/by-nc-nd/4.0/ | |
dc.subject | Foreign direct investment | en |
dc.subject | Exports | en |
dc.subject | Granger-causality | en |
dc.title | Foreign direct investment and trade: a causality analysis | en |
dc.type | Documento de trabajo / Lan gaiak | es |
dc.type | info:eu-repo/semantics/workingPaper | en |
dc.contributor.department | Economía | es_ES |
dc.contributor.department | Ekonomia | eu |
dc.rights.accessRights | Acceso abierto / Sarbide irekia | es |
dc.rights.accessRights | info:eu-repo/semantics/openAccess | en |