rue André Pascal, 75016 Paris
Institutional Affiliation: OECD
NBER Working Papers and Publications
|February 2020||Eliminating the Pass-Through: Towards FDI Statistics that Better Capture the Financial and Economic Linkages between Countries|
with Cecilia Caliandro
in The Challenges of Globalization in the Measurement of National Accounts, Nadim Ahmad, Brent Moulton, J. David Richardson, and Peter van de Ven, editors
|September 2018||Eliminating the Pass-Through: Towards FDI Statistics that Better Capture the Financial and Economic Linkages between Countries|
with Cecilia Caliandro: w25029
FDI plays a central role in managing global production networks, but FDI statistics also reflect other factors, including tax avoidance, that make it difficult to differentiate between FDI for “long-term” investments that serves as a source of growth and FDI that is purely financial and has little real economic impact as it merely passes through an economy. This latter FDI also obscures the ultimate sources and destinations of FDI. This paper addresses these challenges by developing a framework for consolidated FDI statistics based on the nationality of the MNE group that complements residency-based FDI statistics. While residency-based statistics are useful to identify where financial claims and liabilities are held, nationality-based statistics provide information on who makes the decisi...
|May 2009||Improved Measures of U.S. International Services: The Cases of Insurance, Wholesale and Retail Trade, and Financial Services|
in International Trade in Services and Intangibles in the Era of Globalization, Marshall Reinsdorf and Matthew J. Slaughter, editors
|April 2004||Factor Prices and Factor Substitution in U.S. Firms' Manufacturing Affiliates Abroad|
with Robert E. Lipsey: w10442
Using confidential individual firm data from the Bureau of Economic Analysis survey of U.S. firms' manufacturing operations abroad, we investigate the determinants of capital intensity in affiliate operations. Host country labor cost, the scale of host country production, and the capital intensity of the parent firm's production in the United States, are all significant influences. The parent's capital intensity is the strongest and most consistent determinant of affiliate capital intensity. Affiliates that export are more sensitive to these factors in their choice of factor proportions than affiliates that sell only in their host countries.
Published: Maria Borga & Robert E. Lipsey, 2009. "Factor Prices, Factor Substitution and Exporting in US Manufacturing Affiliates Abroad," The World Economy, Blackwell Publishing, vol. 32(1), pages 30-48, 01.