Measuring investment globalisation: Are FDI statistics still a useful metric? - Peter J Buckley - 2014 FDI Statistics Workshop

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Peter J Buckley's presentation at the FDI Statistics Workshop (20 March 2014) during the session on whether or not FDI statisics are still a useful metric when measuring investment …

Peter J Buckley's presentation at the FDI Statistics Workshop (20 March 2014) during the session on whether or not FDI statisics are still a useful metric when measuring investment globalisation.

Find out more at http://www.oecd.org/daf/inv/measuring-globalisation-fdi-statistics-workshop-2014.htm

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  • 1. Leeds University Business School Measuring Investment Globalisation: Are FDI statistics still a useful metric? OECD FDI Statistics Forum Measuring globalisation: better data for better policies OECD Conference Centre, Paris 20 March 2014 Professor Peter J Buckley Centre for International Business University of Leeds
  • 2. Leeds University Business School What do we want to know? 1. Control (of decision making). 2. FDI and its near neighbours in MNE network (‘Global Factory’). 3. Knowledge/Intangible Assets. (Theory Driven) FDI is a financial flow loaded with other flows – control and knowledge included.
  • 3. Leeds University Business School Control 10% equity – “passthrough of control”. Round-tripping. Ultimate control linked to ultimate destination... and the full network?
  • 4. Leeds University Business School Network: FDI and its near neighbours ‘Global Factory’ – Non-equity modes and FDI linked entities. Control (Power) of MNE not fully captured by FDI because of use of non-equity modes of international operation (NEMs). Use of licences: Contracts Minority joint ventures Technology agreements etc., etc. It is arguable that control by contract is more rigorous than by ownership.
  • 5. Leeds University Business School Knowledge – Intangible Assets Externalisation of Operations Internalisation of knowledge (note profit from intangibles) Control of knowledge, not financial capital, is critical and FDI statistics are a poor proxy for this.