We collected OFDI data from 1984 to 2017 from ninety-two different countries from the UNCTAD databases, which we divided into two groups: the first group includes all developed countries, and the second group, which we call emerging economies, is composed of emerging market middle-income economies (EMMIEs), low-income developing countries (LIDCs) (IMF, 2019), and transition economies (IMF, 2020). The time frame considered in this study was 1984-2017, allowing us to capture with greater amplitude the changes in aggregated OFDI flows of the countries in our sample. We used a unbalanced panel due to some countries, particularly some emerging markets, providing no OFDI values before 1992. We believe that these characteristics provide an adequate representation of the countries included in our sample.