Democracy and FDI
Democracy and FDI
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民主与外国直接投资
DOI：
10.2139/ssrn.384480
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发表时间：
2003
期刊：
影响因子：
--
通讯作者：
M. Busse
中科院分区：
文献类型：
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作者：
M. Busse
许多人认为，跨国企业不敏感地忽视其投资国家的政治权利和公民自由。非政府组织经常指责跨国公司在发展中国家扶植专制政权，并认为外国直接投资（FDI）是一种剥削工具。本文试图采用横断面和面板数据分析方法，系统地实证检验民主与FDI之间的复杂关系。结果表明，平均而言，跨国公司在民主国家的投资要高得多，从而驳斥了政治压制促进外国直接投资的假设。然而，这种积极联系在20世纪70年代并不成立，当时相当大一部分外国直接投资流向了专制政权的国家。
Many believe that multinational enterprises insensitively ignore political rights and civil liberties in the countries of their investments. Frequently, non-governmental organisations accuse multinationals of fostering repressive regimes in developing countries and consider foreign direct investment (FDI) as a tool of exploitation. This paper tries to examine empirically the complex relationship between democracy and FDI in a systematic way, using cross-sectional and panel data analysis. The results indicate that – on average – investments by multinationals are significantly higher in democratic countries, thereby refuting the hypothesis that political repression fosters FDI. Yet this positive link does not hold for the 1970s, when a considerable share of FDI flowed to countries with repressive regimes.