Determinants of Foreign Direct Investment: A Sectoral and Institutional Approach
Determinants of Foreign Direct Investment: A Sectoral and Institutional Approach
复制标题
DOI：
10.5089/9781455202218.001
复制
发表时间：
2010-07
期刊：
影响因子：
--
通讯作者：
J. Walsh;Jiangyan Yu
中科院分区：
文献类型：
--
作者：
J. Walsh;Jiangyan Yu
本文利用将 FDI 流量细分为第一、第二和第三部门投资的数据集和 GMM 动态方法来解决对内生性的担忧，分析了新兴市场和发达经济体样本中 FDI 的各种宏观经济、发展和制度/定性决定因素。虽然流入第一部门的外国直接投资对这些变量的依赖性很小，但第二和第三部门的投资却以不同的方式受到各国收入水平和汇率估值、金融深度和入学率等发展指标以及司法独立和劳动力市场灵活性等制度因素的影响。最后，我们发现这些因素的影响在发达经济体和新兴经济体之间往往有所不同。
Using a dataset which breaks down FDI flows into primary, secondary and tertiary sector investments and a GMM dynamic approach to address concerns about endogeneity, the paper analyzes various macroeconomic, developmental, and institutional/qualitative determinants of FDI in a sample of emerging market and developed economies. While FDI flows into the primary sector show little dependence on any of these variables, secondary and tertiary sector investments are affected in different ways by countries’ income levels and exchange rate valuation, as well as development indicators such as financial depth and school enrollment, and institutional factors such as judicial independence and labor market flexibility. Finally, we find that the effect of these factors often differs between advanced and emerging economies.