On the Determinants of Foreign Direct Investment to Developing Countries: Is Africa Dierent?
On the Determinants of Foreign Direct Investment to Developing Countries: Is Africa Dierent?
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关于发展中国家外国直接投资的决定因素：非洲是否有所不同？
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通讯作者：
E. Asiedu
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作者：
E. Asiedu
本文探讨了影响发展中国家和撒哈拉以南非洲国家外商直接投资的因素是否存在差异。结果表明：（a）更高的投资回报和更好的基础设施对非撒哈拉以南非洲国家的外国直接投资有积极影响，但对撒哈拉以南非洲国家的外国直接投资没有显著影响;（B）贸易开放促进了对撒哈拉以南非洲和非撒哈拉以南非洲国家的外国直接投资;然而，增加开放带来的边际贝内对撒哈拉以南非洲来说较小。这些结果意味着非洲的差异很大，这表明在其他区域取得成功的政策在非洲可能不会同样成功。非洲大陆并没有从整个发展中国家增加的投资流入中受益，尽管该区域各国进行了许多努力以吸引投资。
Ð This paper explores whether factors that aect Foreign Direct Investment (FDI) in developing countries aect countries in sub-Saharan Africa (SSA) dierently. The results indicate that: (a) a higher return on investment and better infrastructure have a positive impact on FDI to non-SSA countries, but have no signi®cant impact on FDI to SSA; (b) openness to trade promotes FDI to SSA and non-SSA countries; however, the marginal bene®t from increased openness is less for SSA. These results imply that Africa is dierentÐsuggesting that policies that have been successful in other regions may not be equally successful in Africa. The African continent did not bene®t from the increased investment ¯ows to developing countries as a whole, in spite of the fact that the countries of the region undertook many eorts to attract invest