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2009•RePEc: Research Papers in EconomicsRequires access

WHAT IS THE IMPACT OF CURRENCY UNIONS ON FDI FLOWS? EVIDENCE FROM EUROZONE COUNTRIES

Kyriacos Aristotelous, Stilianos Fountas

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Abstract

This paper investigates the effect of EMU on inward FDI flows to the Eurozone using panel data from 22 OECD countries for the period 1973-2006. The empirical findings suggest that the EMU led to a statistically significant overall increase in inward FDI flows to countries that adopted the euro as their national currency. They also show that the EMU effect on inward FDI flows differs substantially across member countries.

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What this paper is about

This paper investigates the effect of EMU on inward FDI flows to the Eurozone using panel data from 22 OECD countries for the period 1973-2006. The empirical findings suggest that the EMU led to a statistically significant overall increase in inward FDI flows to countries that adopted the euro as their national currency. They also show that the EMU effect on inward FDI flows differs substantially across member countries.

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OpenAlex reports 16 citations for this work. Citation counts describe recorded attention and do not establish research quality.

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Available abstract

This paper investigates the effect of EMU on inward FDI flows to the Eurozone using panel data from 22 OECD countries for the period 1973-2006. The empirical findings suggest that the EMU led to a statistically significant overall increase in inward FDI flows to countries that adopted the euro as their national currency. They also show that the EMU effect on inward FDI flows differs substantially across member countries.

Key concepts: Foreign direct investment, International economics, Currency, Economics, Panel data, Monetary economics, Macroeconomics, Econometrics

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