TY  - JOUR
AU  - Lipsey,Robert E.
TI  - The Role of Foreign Direct Investment in International Capital Flows
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 7094
PY  - 2000
Y2  - June 2000
UR  - http://www.nber.org/papers/w7094
L1  - http://www.nber.org/papers/w7094.pdf
N1  - Author contact info:
Robert E. Lipsey
NBER
365 Fifth Avenue, Suite 5318
New York, NY 10016-4309
Tel: 212/817-7961
Fax: 212/817-1597
E-Mail: N/A user is deceased
M1  - published as Robert E. Lipsey, Robert C. Feenstra, Carl H. Hahn, George N. Hatsopoulos. "The Role of Foreign Direct Investment in International Capital Flows," in Martin Feldstein, editor, "International Capital Flows" University of Chicago Press (1999)

AB  - Direct investment has accounted for about a quarter of total international capital outflows in the 1990s and appears to have grown, relative to other forms of international investment, since the 1970s.  The United States was by far the major source of direct investment outflows in the early 1970s, but Europe caught up to the United States in the 1980s and Japan almost did, before fading in the 1990s.  The United States shifted from being the largest net supplier of direct investment to absorbing much of the world's supply, especially in the late 1980s, and then reverted to its earlier net supplier role. Direct Investment flows have been the least volatile source of international investment for most countries, the chief exception being the United States, which has flipped back and forth from dominant net supplier to dominant net recipient, and back to dominant net supplier.  Particularly for developing countries, direct investment has been the most dependable source of foreign investment.
ER  -