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Determinants and effects of foreign direct investment in developing countries: Theoretical and empirical analysis.

机译:外国直接投资在发展中国家的决定因素和影响:理论和实证分析。

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摘要

Foreign Direct investment (FDI) continues to be the largest net source of external private capital for developing economies. In 1999, net flows of direct investment to developing economies continued to increase although at a much slower pace of growth than in the early 1990s. Direct investment's resilience in the face of sharp contraction of other private sources has been a stabilizing factor in financial flows to these economies since the onset of the financial crisis in 1997. Determinants like financial and corporate restructuring, large scale privatization of state-supported industries and liberalization of trade regimes in developing economies generated new opportunities for investment. Many of these investments took the form of cross-border mergers and acquisitions. In contrast to the early 1990s, there was little investment in "greenfield" projects, owing to excess capacity in many industries.; Chapter two constructs a theoretical model of foreign direct investment (FDI) and examines if trade openness and the level of infrastructural development in a country interact insofar as the attraction of FDI in concerned. Chapter three tests the predictions of the model constructed in chapter two empirically. A number of determinants are taken as control variables.; Efforts have been made to asses the contribution of foreign direct investment to economic growth and development in general. Growth can come about through an expansion of inputs; labor and capital or through more productive use of these inputs. Yet the expansion in the labor force and the additions to the capital stock alone cannot be relied upon to produce higher sustainable growth, for after a point it can be expected that diminishing returns will set in. Chapter four examines the contribution of FDI to economic growth in particular it investigates if foreign direct investment (FDI) and the level of infrastructural development in a country interact insofar as the process of economic growth is concerned. Chapter five concludes this dissertation.
机译:外国直接投资(FDI)仍然是发展中经济体最大的外部私人资本净来源。 1999年,流向发展中经济体的直接投资净流量继续增加,尽管其增长速度比1990年代初期要慢得多。自1997年金融危机爆发以来,面对其他私人资源急剧萎缩,直接投资的抵御能力一直是流入这些经济体的资金的稳定因素。诸如金融和公司重组,国家支持行业的大规模私有化以及发展中国家贸易体制的自由化产生了新的投资机会。其中许多投资采取跨境并购的形式。与1990年代初期相比,由于许多行业的产能过剩,对“绿地”项目的投资很少。第二章构建了外国直接投资(FDI)的理论模型,并考察了贸易开放程度和一国的基础设施发展水平是否在相关外国直接投资的吸引力方面相互影响。第三章从经验上检验了第二章构建的模型的预测。许多决定因素被当作控制变量。努力评估外国直接投资对总体经济增长和发展的贡献。增长可以通过扩大投入来实现;劳动力和资本或通过更有效地利用这些投入。然而,不能仅仅依靠劳动力的增长和资本存量的增加来实现更高的可持续增长,因为在这一点之后,可以预期收益会下降。第四章考察了外国直接投资对经济增长的贡献。尤其是,它研究了外国直接投资(FDI)和一国的基础设施发展水平在经济增长过程中是否相互作用。第五章是本文的总结。

著录项

  • 作者

    Ng'ang'a, Peter Kinuthia.;

  • 作者单位

    Southern Illinois University at Carbondale.;

  • 授予单位 Southern Illinois University at Carbondale.;
  • 学科 Economics General.
  • 学位 Ph.D.
  • 年度 2005
  • 页码 74 p.
  • 总页数 74
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类 经济学;
  • 关键词

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