Recent economic literature highlights that migrant networks help to overcome the informal barriers that exist in the international markets and boost international investment. Empirical studies on different countries confirm this prediction. This paper estimates (OLS-IV) an econometric model to study the impact of both emigration and immigration on Italy's bilateral foreign direct investment (FDI). The main results are that Italian emigrants abroad have a significant positive effect on Italy's both inward and outward FDI, while immigrants are not a signifcant determinant. A theoretical framework, a profile of the diaspora and of immigration in Italy and some exemplary entrepreneurial histories help to interpret the econometric evidence.
Migrant Networks and Italian Foreign Direct Investment / Murat, Marina Giovanna; Pistoresi, Barbara; Rinaldi, Alberto. - ELETTRONICO. - .:(2008), pp. 1-52. (Intervento presentato al convegno Economic History Society Annual Conference tenutosi a Nottingham nel 28 to 30 March 2008).
Migrant Networks and Italian Foreign Direct Investment
MURAT, Marina Giovanna;PISTORESI, Barbara;RINALDI, Alberto
2008
Abstract
Recent economic literature highlights that migrant networks help to overcome the informal barriers that exist in the international markets and boost international investment. Empirical studies on different countries confirm this prediction. This paper estimates (OLS-IV) an econometric model to study the impact of both emigration and immigration on Italy's bilateral foreign direct investment (FDI). The main results are that Italian emigrants abroad have a significant positive effect on Italy's both inward and outward FDI, while immigrants are not a signifcant determinant. A theoretical framework, a profile of the diaspora and of immigration in Italy and some exemplary entrepreneurial histories help to interpret the econometric evidence.
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