It would be valuable to track the distinction between "phantom" and "genuine" FDI going forward and to update that talking point accordingly. Both BEA and UNCTAD data show decent-sized shifts in FDI in 2018 (post US tax reform). https://apps.bea.gov/scb/2019/08-august/0819-direct-investment-positions.htm#outward … https://unctad.org/en/pages/PublicationWebflyer.aspx?publicationid=2460 …https://twitter.com/MForstater/status/1171373937839808512 …
Yes. It would make sense for FDI statistics to capture the distinction (these are estimates). I don't know if clear categorisation could be done that would make the two flows clearly separate in FDI data . Of course it would have to be given a different name than "phantom" !
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Good point; absent more formal distinctions in FDI data it would be nice for the estimates in the (forthcoming) to be updated regularly. There are parallels here to the "passive" vs. "active" income in CFC regimes, but those distinctions aren't consistent across jurisdictions.
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