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Has the crisis affected Spanish investment strategy abroad? A spatial panel data approach

Abstract: This paper investigates whether the Spanish investment strategy abroad has been affected by the Great Recession. Applying a panel spatial Durbin model for two sample periods, pre?crisis (1996-2007) and crisis (2008-14), our findings indicate that Spanish foreign direct investment (FDI) strategy has been indeed markedly altered by the global economic crisis. Complex-vertical FDI motives prevailed over the pre-crisis period, whereas horizontal FDI did so over the crisis. These results are robust to the use of sectoral FDI data and alternative specifications of the spatial weight matrix.

 Fuente: World economy, 2019, 42(4), 1032-1056

 Editorial: Wiley-Blackwell

 Fecha de publicación: 01/04/2019

 Nº de páginas: 24

 Tipo de publicación: Artículo de Revista

 DOI: 10.1111/twec.12740

 ISSN: 0378-5920,1467-9701

 Proyecto español: FPU2013/00791

 Url de la publicación: https://doi.org/10.1111/twec.12740

Autoría

PAULA GUTIERREZ PORTILLA

JOSE VILLAVERDE CASTRO