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Determinants and growth effects of foreign direct investment
Armin Riess,Kristian Uppenberg +1 more
- Vol. 9, Iss: 1, pp 52-84
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In this paper, the main determinants of foreign direct investment (FDI) are reviewed and a key observation is that economic policies and non-policy factors contribute equally to the direction of FDI flows.Abstract:
Focussing on Europe, this paper starts with reviewing the main determinants of foreign direct investment (FDI); a key observation is that economic policies and non-policy factors contribute equally to the direction of FDI flows. The paper then examines the growth-FDI nexus: while a strong positive correlation between inward FDI and economic growth exists, at least in the more advanced EU-15 economies it is not clear whether the causality runs from FDI to growth or vice versa; in the countries of Central and Eastern Europe (CEE) there is stronger evidence that FDI has boosted growth during the transition period, partly by augmenting domestic investment; that said, evidence of technology spillovers (a potentially important channel for FDI to boost growth) is harder to find in CEE than in developed economies. The paper finally argues that growth-enhancing policies in general are more promising than specific support for FDI.read more
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The New Growth Evidence
TL;DR: This paper surveys the recent empirical literature on economic growth, starting with a discussion of stylized facts, data problems, and statistical methods and concludes that efficiency has grown at different rates across countries, casting doubt on neoclassical models in which technology is a public good.
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Organized Crime and Foreign Direct Investment: The Italian Case
Vittorio Daniele,Ugo Marani +1 more
TL;DR: In this article, the effects of organized crime on FDI inflows in 103 Italian provinces in the period 2004-06 were quantified through several indicators, based on data for different kinds of crimes: extortion; association for criminal purposes, including mafia (Art. 416 and 416 bis of the Italian Penal Code); attacks; arson.
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Cross-Border M&As and the Changing Economic Geography of Europe
TL;DR: In this article, the authors investigated the patterns of corporate mergers and acquisitions involving firms located in the EU25 as well as in the four EFTA countries between 1998 and 2003 and found that the traditional motives of access to new and core markets, the effects of geographical proximity, and the internalisation of localised capabilities represent the key drivers of European M&As, while institutional factors such as European integration or language barriers appear to be less influential.
The political economy of FDI in Thailand and its implications for sustainable economic development
TL;DR: In this paper, the effects of FDI on Thailand's economic growth in the context of the political economy are examined. And the main areas examined are: (i) whether FDI has had a positive effect on the Thai economy; (ii) in which sector FDI was most productive; (iii) whether the Thai government has been successful in achieving improved economic growth through implementing its FDI policies; and (iv) if not, which areas have reported failure, what possible alternative policies exist, and what the expectations are for Thailand's future.
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Criminalità e investimenti esteri. Un’analisi per le province italiane
Vittorio Daniele,Ugo Marani +1 more
TL;DR: In this paper, the effects of organized crime on FDI inflows in 103 Italian Provinces in the period 2004-06 were quantified through several indicators, based on data for different kinds of crimes: extortions; criminal association, included mafia (art. 416 and 416 bis Italian Penal Code); attempts; crime of arsons.
References
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Journal ArticleDOI
The New Growth Evidence
TL;DR: The authors surveys the recent empirical literature on economic growth, starting with a discussion of stylized facts, data problems, and statistical methods and concludes that efficiency has grown at different rates across countries, casting doubt on neoclassical models in which technology is a public good.
Journal ArticleDOI
Foreign direct investment as a catalyst for industrial development
TL;DR: In this paper, the authors developed an analytical framework to assess the effect of FDI on local firms in the same industry and showed that FDI may lead to the establishment of local industrial sectors.
Journal ArticleDOI
The Post-Merger Performance of Acquiring Firms: A Re-examination of an Anomaly
TL;DR: In this paper, the authors used a nearly exhaustive sample of mergers between NYSE acquirers and NYSE/AMEX targets and found that stockholders of acquiring firms suffer a statistically significant loss of about 10% over the five-year post-merger period, a result robust to various specifications.
Posted Content
Foreign Investment and Productivity Growth in Czech Enterprises
TL;DR: This paper found that foreign direct investment had a greater positive impact on total factor productivity in firms in the Czech Republic over a four-year period than joint ventures did, suggesting that parent firms transferred more know-how to affiliates than joint venture firms got from their partners.
Journal ArticleDOI
The Effects of Foreign Direct Investment on Domestic Firms: Evidence from Firm Level Panel Data in Emerging Economies
TL;DR: In this article, the authors investigated the effects of foreign direct investment on the productivity performance of domestic firms in three emerging economies of Central and Eastern Europe: Bulgaria, Romania and Poland.