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Proceedings of Rijeka Faculty of Economics : Journal of Economics and Business, Vol.34 No.1 June 2016. -

The goal of this research is to provide an empirical assessment of the

complementarity or substituting relationship between Trade and FDI in a link to

country characteristics, using bilateral level data between FDI and trade for the

period 1994 – 2010. In the research, an augmented gravity model has been used to

test the relationship between Trade both export and import, FDI stock and

country characteristics between OECD-20 countries and SEE-5 and EU-NMS-10

countries. The empirical model considers how the relationship between FDI and

Trade determine whether type of FDI into SEE-5 and EU-NMS-10 from core

OECD-20 countries, is vertical or horizontal. With regard to the relationship

between exports and FDI, the findings of the research showed mixed evidence, thus

supporting vertical FDI for EU-NMS-10 countries, and horizontal FDI for SEE-5

countries. On the other hand, based on the relationship between imports and FDI,

the results of the research supported vertical FDI for both EU-NMS-10 and SEE-5

group of countries. The basic conclusion is that the research provides an empirical

evidence on the mixed nature of FDI into the host SEE-5 and EU-NMS-10

countries, supporting both complementary and substituting relationship between

trade and FDI in the host countries.

Foreign direct investment; trade; complements; substitutes; gravity model



Autor: Bardhyl Dauti - ; Faculty of Economics, University of Tetovo, Tetovo, Macedonia

Fuente: http://hrcak.srce.hr/



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