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Foreign direct investment and the relationship betweenthe United Kingdom and the European Union

Bruno, Randolph Luca and Campos, Nauro and Estrin, Saul and Tian, Meng (2016) Foreign direct investment and the relationship betweenthe United Kingdom and the European Union. CEP discussion paper, CEPDP1453. Centre for Economic Performance (CEP), London, UK.

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Identification Number: CEPDP1453

Abstract

This paper investigates whether and to what extent foreign direct investment inflows into the United Kingdom are caused by its membership in the European Union (EU). It reports two main sets of econometric estimates: (a) synthetic counterfactual method with annual data for large sample of developing and developed countries over 1970-2014 and (b) gravity estimates using 34 OECD countries bilateral data for 1985-2013. The two sets of estimates strongly concur: EU membership increases FDI inflows by about 30%. This result is robust to changes in specification, country samples, time windows, and the use of different estimators (panel, PPML and Heckman).

Item Type: Monograph (Discussion Paper)
Official URL: http://cep.lse.ac.uk/
Additional Information: © 2016 The Authors
Subjects: H Social Sciences > HD Industries. Land use. Labor
H Social Sciences > HF Commerce
J Political Science > JZ International relations
Sets: Research centres and groups > Centre for Economic Performance (CEP)
Series: Working Papers > CEP Discussion Papers
Date Deposited: 26 Jan 2017 14:25
Last Modified: 26 Jan 2017 14:25
Projects: CEP Trade Programme
Funders: Economic and Social Research Council
URI: http://eprints.lse.ac.uk/id/eprint/69025

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