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Explaining German outward FDI in the EU: a reassessment using Bayesian model averaging and GLM estimators

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Explaining German outward FDI in the EU: a reassessment using Bayesian model averaging and GLM estimators

dc.contributor.author	Camarero, Mariam
dc.contributor.author	Montolio, Laura
dc.contributor.author	Tamarit Escalona, Cecilio Ricardo
dc.date.accessioned	2023-06-21T11:05:47Z
dc.date.available	2023-06-22T04:45:06Z
dc.date.issued	2022	es_ES
dc.identifier.citation	Camarero, M., Montolio, L. & Tamarit, C. Explaining German outward FDI in the EU: a reassessment using Bayesian model averaging and GLM estimators. Empir Econ 62, 487–511 (2022).	es_ES
dc.identifier.uri	https://hdl.handle.net/10550/88406
dc.description.abstract	The last decades have seen an increasing interest in FDI and the process of production fragmentation. This has been particularly important for Germany as the core of the European Union (EU) production hub. This paper attempts to provide a deeper under standing of the drivers of German outward FDI in the EU for the period 1996–2012 by tackling the two main challenges faced in the modelization of FDI, namely the variable selection problem and the choice of the estimation method. For that purpose, we first extend previous BMA analysis developed by Camarero et al. (Econ Model 83:326–345, 2019) by including country-pair-fixed effects to select the appropriate set of variables. Second, we compare several estimation methods in their multiplica tive form, namely four versions of the generalized linear model. The results of the empirical application indicate that Gamma pseudo-maximum likelihood is the best performing estimator. Furthermore, our results point to horizontal-ness as the primary strategy for German investment in core EU countries, while vertical-ness seems to prevail in peripheral EU countries.	es_ES
dc.language.iso	en	es_ES
dc.publisher	Springer	es_ES
dc.subject	FDI determinants	es_ES
dc.subject	outward FDI	es_ES
dc.subject	gravity models	es_ES
dc.subject	GLM	es_ES
dc.subject	germany	es_ES
dc.title	Explaining German outward FDI in the EU: a reassessment using Bayesian model averaging and GLM estimators	es_ES
dc.type	journal article	es_ES
dc.subject.unesco	UNESCO::CIENCIAS ECONÓMICAS	es_ES
dc.identifier.doi	10.1007/s00181-021-02040-4	es_ES
dc.accrualmethod	S	es_ES
dc.embargo.terms	0 days	es_ES
dc.type.hasVersion	VoR	es_ES
dc.rights.accessRights	open access	es_ES