“…Researchers have focused on several factors as determinants of FDI inflow-outflow, including bilateral distance [23,22,5], trade costs in the host and home countries, gross domestic product (GDP), GDP growth rate [35], market size of the host country relative to other countries [11,2,7,10], productivity [28], differences in factor endowments, exchange rate volatility [12], financial system development, economic policy activity [17], financial risk [28], host and source corporate tax rates [27], the existence of regional trade agreements [3], country-pair specific impacts, such as language [25], border and colonial history, legal protection, and the quality of institutions [6].…”