The profitability life-cycle of direct investment: an international panel study |
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| Authors: | Filip Novotný Ji?í Podpiera |
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| Institution: | (1) Czech National Bank, External Economic Relations Division, Na Příkopě 28, 115 03 Prague 1, Czech Republic |
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| Abstract: | In this paper we test competing hypotheses about the shape of the time-profile of foreign direct investment profitability
on a panel of countries. Using partial linearization method we derive the time-profile of the cumulative profitability for
the stock of direct investment from aggregate macroeconomic data. By testing the non-linearity hypothesis of the cumulative
profitability life-cycle of direct investment we find a cubic curve.
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| Keywords: | Foreign direct investment Life-cycle Profitability |
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