Iwasaki, Ichiro; Suganuma, Keiko - In: Economics Bulletin 35 (2015) 2, pp. 1020-1033
To empirically examine the impact of foreign direct investment and socio-cultural similarity on international trade between Russia and developed economies, we estimated a gravity model using panel data from Russia and 23 OECD member countries. To deal with the problem of Jensen's inequality, in...