Investors' Perspective on Determinants of Foreign Direct Investment in Wind and Solar Energy in Developing Economies: Review and Expert Opinions. Journal of Cleaner
Investors' Perspective on Determinants of Foreign Direct Investment in Wind and Solar Energy in Developing Economies: Review and Expert Opinions. Journal of Cleaner
复制标题
投资者对发展中经济体风能和太阳能外国直接投资决定因素的看法：回顾和专家意见。
DOI：
10.1016/j.jclepro.2017.12.154
复制
发表时间：
2017
影响因子：
11.1
通讯作者：
K.
中科院分区：
文献类型：
--
作者：
Keeley;A. and Matsumoto;K.
2015年，可再生能源项目的外国直接投资（FDI）已达到全球绿地外国直接投资总额的10%以上，发展中经济体日益走在这些投资的前列。然而，很少有研究关注这一新兴领域的外国直接投资。了解外国直接投资选址决策背后的决定因素将有助于创造更好的投资环境，并进一步促进可再生能源技术在全球范围内的部署。因此，本文基于文献综述和半结构化访谈，确定了发展中经济体风能和太阳能领域外国直接投资的决定因素。通过文献综述确定的因素分为以下几类：制度环境、宏观经济环境、自然条件和可再生能源政策。对活跃于风能和太阳能领域外国直接投资的跨国公司的专家进行了半结构化访谈。根据这些访谈，选择了 18 个可被视为重要决定因素的因素，并与专家意见一起提出。专家们的意见表明，与传统上认为的 FDI 决定因素（包括宏观经济环境、制度环境和自然条件）相比，可再生能源政策非常重要。在传统上争论的决定因素中，汇率稳定性被认为是考虑大多数公司投资组合中太阳能和风能投资定位的最重要因素之一。
Foreign direct investment (FDI) in renewable energy projects in 2015 has reached more than 10% of the total green-field FDI worldwide, and developing economies were increasingly at the forefront of these investments. However, there are few studies that focus on the FDI in this emerging sector. Understanding determinants behind the location decisions of the FDI would lead to creating a better investment climate and further facilitate worldwide deployment of renewable energy technologies. Thus, this paper identifies the determinants of FDI in wind and solar energy in developing economies based on a literature review and semi-structured interviews. Factors that are identified through the literature review are categorized into the following categories: institutional environment, macroeconomic environment, natural conditions, and renewable energy policies. Semi-structured interviews were conducted with experts from multinational corporations that are active in FDI in wind and solar energy. Based on these interviews, 18 factors that could be considered as important determinants are selected and presented along with expert opinions. The experts' opinions suggest strong importance of renewable energy policies when compared to traditionally argued determinants of FDI including macroeconomic environment, institutional environment and natural conditions. Among traditionally argued determinants, exchange rate stability is suggested to be one of the most important factors considering the positioning of investments in solar and wind energy in most of the companies’ investment portfolios.