Cross-border Investments, Gravity Equations and the Double-hurdle Model

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http://urn.fi/URN:NBN:fi:hulib-201703272974
Titel: Cross-border Investments, Gravity Equations and the Double-hurdle Model
Författare: Norring, Anni
Medarbetare: Helsingin yliopisto, Valtiotieteellinen tiedekunta, Politiikan ja talouden tutkimuksen laitos
University of Helsinki, Faculty of Social Sciences, Department of Political and Economic Studies
Helsingfors universitet, Statsvetenskapliga fakulteten, Institutionen för politik och ekonomi
Utgivare: Helsingfors universitet
Datum: 2015
Språk: eng
Permanenta länken (URI): http://urn.fi/URN:NBN:fi:hulib-201703272974
http://hdl.handle.net/10138/153567
Nivå: pro gradu-avhandlingar
Ämne: Economics
Taloustiede
Ekonomi
Abstrakt: In this thesis I consider studying the determinants of international investments with the gravity model of international financial asset trade. I discuss the relevant literature and present a theoretical framework for gravity in cross-border investments. I compare three empirical approaches, the classic approach that studies the determinants of the observed levels of cross-border holdings by a fixed effects panel model, the dichotomous approach that studies the effects of determinants on the probability of there being a positive cross-border investment by a probit model and finally an approach which combines the two previous ones by a double-hurdle model. I propose that the double-hurdle model is the correct approach in the context of cross-border investments.


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