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Title: Outward FDI effects on the Portuguese Trade Balance, 1996-2007
Author: Fonseca, Miguel
Mendonça, António
Passos, José
Keywords: Foreign Direct Investment
Gravity Model
Issue Date: 2009
Publisher: ISEG - Departamento de Economia
Citation: Fonseca, Miguel, António Mendonça e José Passos . 2009. "Outward FDI effects on the Portuguese Trade Balance, 1996-2007". Instituto Superior de Economia e Gestão - DE Working papers nº 11-2009
Series/Report no.: Working papers;nº 11/2009/DE
Abstract: Given the increased internationalisation of the Portuguese economy through outward Foreign Direct Investment (FDI), particularly on the Portuguese-speaking countries, our main objective is to discuss the empirical relationship between this outward FDI and trade. We use panel data analysis within a framework of gravity equations for exports and imports, with a sample composed by EU-15, U.S.A., Brazil, Angola, Japan and China, for the period 1996-2007. Our main conclusion is that the empirical evidence for Portugal is consistent with a substitution hypothesis between direct investment abroad and trade, and consequently we detect a negative trade balance effect with the majority of countries in our sample, excepting Angola and, in a lesser extension, Spain.
ISSN: 0874-4548
Appears in Collections:DE - Documentos de trabalho / Working Papers

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