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%T Real exchange-rate uncertainty and US foreign direct investment: an empirical analysis %A Schmidt, Christian W. %A Broll, Udo %J Review of World Economics %N 3 %P 513-530 %V 145 %D 2009 %K Foreign direct investment; Real exchange-rate risk; Volatility; F21; F23 %= 2010-11-16T09:46:00Z %~ http://www.peerproject.eu/ %> https://nbn-resolving.org/urn:nbn:de:0168-ssoar-203251 %X This paper empirically analyzes the impact of exchange-rate uncertainty, exchange-rate movements, and expectations on foreign direct investment (FDI). Using data on US outward FDI for the period 1984–2004 we examine two competing measures of exchange-rate volatility. While the standard measure yields a discouraging effect on FDI outflows in all industries the alternative risk specification reveals a clear distinction between manufacturing and non-manufacturing industries, with the latter showing a positive correlation with increased exchange risk. A real appreciation of host-country currency was associated with higher FDI flows, while expectations about an appreciation showed a negative result. %C DEU %G en %9 journal article %W GESIS - http://www.gesis.org %~ SSOAR - http://www.ssoar.info