I am carrying out a study on inward Foreign Direct Investment(FDI) in Africa. I wish to find out whether the choice of my measure of FDI really matters. Some studies use FDI stocks as the dependent variable while others use FDI flows. Is there any theoretical justification for either? or which is more preferable to use(stocks or flows)?

I had submitted a proposal to my supervisor with FDI flows as the Dependent variable based on what I observed in empirical studies but he needs a theoretical justification. I have gone through FDI theories and none seems to buttress on it.

I appreciate any help

Thanks!