Anmerkungen:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments April 21, 2023 erstellt
Beschreibung:
The growing complexity of the financing and ownership structures of multinational enterprises (MNEs) leads to control chains that extend across a number of countries and obscure the ultimate sources and destinations of foreign direct investment (FDI). This results in what is known in the literature as ‘pass-through capital' (i.e. capital entering and exiting from a given country) and 'round-tripping' (i.e. capital leaving the investor's jurisdiction at the top of the investment chain and then returning to the same country). This study quantifies and analyses pass-through capital and round-tripping for Italy along their geographical and sectoral dimensions, applying a simple methodology based on information on the residency of the ultimate investor as reported in the surveys of firms conducted for the purpose of compiling the balance of payments in the years 2013-2020