Sercu, Piet (contributor); Vanpée, Rosanne (contributor) - 2006
explicit costs. Over the period 2001-2004, the average implicit investment costs range from
0.26 (US) to 16 (Turkey) percent … instruments. We
estimate the model on the full sample 2001-2004 and on two subsamples 2001-2002 and 2003-
2004. As a robustness …
parameter is flxed at 1.067, for comparability with our estimates.
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Figure 1: Annual average inward investment costs, 2001-2004 …