01824cas a2200265 a 4500 AALejournalIMF016079 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513521527 1018-5941 BD-DhAAL BD-DhAAL Damgaard, Jannick. What Is Real and What Is Not in the Global FDI Network? / Jannick Damgaard, Thomas Elkjaer, Niels Johannesen. Washington, D.C. : International Monetary Fund, 2019. 1 online resource (54 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Macro statistics on foreign direct investment (FDI) are blurred by offshore centers with enormous inward and outward investment positions. This paper uses several new data sources, both macro and micro, to estimate the global FDI network while disentangling real investment and phantom investment and allocating real investment to ultimate investor economies. We find that phantom investment into corporate shells with no substance and no real links to the local economy may account for almost 40 percent of global FDI. Ignoring phantom investment and allocating real investment to ultimate investors increases the explanatory power of standard gravity variables by around 25 percent. Mode of access: Internet Elkjaer, Thomas. Johannesen, Niels. IMF Working Papers; Working Paper ; No. 2019/274 Full text available on IMF http://elibrary.imf.org/view/journals/001/2019/274/001.2019.issue-274-en.xml IMF e-Library