Kugler, Maurice and Rapoport, Hillel
International labor and capital flows: complements or substitutes?
Economics Letters, 94, (2), . (doi:10.1016/j.econlet.2006.06.023).
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In a global context, foreign direct investment (FDI) and migration substitute one another in the matching process between workers and firms. Yet, migrants provide information about future investment opportunities in their country of origin. Evidence from U.S. data is consistent with contemporaneous substitutability and dynamic complementarity between migration and FDI.
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