Data for: Do global banks facilitate foreign direct investment?

Abstract of associated article: The wave of globalization in finance during the last decades led to the rise of global banks. Are these merely costly liabilities to the countries that supervise them, or is their global reach also beneficial for the real economy and for FDI in particular? Recent literature has focused on the risks, emphasizing transmission of shocks from one country to many countries. On the positive side, this paper hypothesizes that global banks have made investing abroad easier and more successful for their home-market customers. Using a new detailed data set of outward FDI, this paper finds that banks׳ direct investment abroad is positively associated with the volume of non-financial FDI from the same home market. The result is robust to various robustness exercises which show that the main results are not likely to be driven by reverse causality. The effect is stronger in countries where investing is more hazardous, those with worse corruption and weaker rule of law. Conversely, this paper does not find evidence that host-market domestic or third-country foreign banks facilitate FDI.

相关文章摘要：过去几十年金融全球化的浪潮催生了全球性银行的兴起。这些银行对于监管它们的国家来说，仅仅是昂贵的负债，还是其全球影响力对实体经济以及尤其是对外国直接投资（FDI）具有益处？近期文献主要关注风险，强调冲击从一个国家传递至多个国家的现象。在积极方面，本文提出全球银行使得其母国市场的客户海外投资变得更加便捷且成功率更高。利用一个新的详细的外国直接投资（FDI）数据集，本文发现银行在海外的直接投资与同一母市场非金融FDI的规模呈正相关。这一结果在多种稳健性检验中均保持稳健，这些检验表明主要结果不太可能受到反向因果性的驱动。在投资风险较高的国家，即腐败较严重、法治较薄弱的国家，这种影响更为显著。相反，本文并未发现东道国国内银行或第三国外国银行促进FDI的证据。