We present two models of the greenfield-FDI, R&D and entry decisions of rival firms in an international oligopoly. Specifically, we develop a blockaded-entry (BE) two-stage game as a benchmark: in the first stage, the two incumbents choose whether to undertake greenfield-FDI or R&D (or both); in...

The analysis is motivated by the observation that foreign direct investment (FDI) is in reality a heterogeneous flow of funds, composed of both greenfield-FDI ('greenfield investment') and acquisition-FDI (cross-border mergers and acquisitions), although previous game-theoretic analyses have...