Contessi, Silvio; DePace, Pierangelo; Francis, Johanna - Federal Reserve Bank of St. Louis - 2008
),
Denmark (DEN), Finland (FIN), France (FRA), Germany (GER), Italy (ITA), Japan (JAP), Norway (NOR), Portugal,
(POR), Spain …, France, Germany, Italy, Japan, United Kingdom, United States.
4We analyze up to eleven flow series for each country: inward … States,
Europe, and Japan, and find that outward FDI is countercyclical with respect to output and interest
rate cycles in …