期刊名称：South African Journal of Economic and Management Sciences
印刷版ISSN：2222-3436
出版年度：2008
卷号：11
期号：4
页码：511-528
出版社：University of Pretoria
摘要：The explanatory power of institutional and macroeconomic variables for FDI stock accumulation in developing countries is investigated. Hypotheses are tested by means of pooled least squares regressions. The impact of institutional variables on FDI flows produced mixed results: levels of economic freedom facilitate inward FDI; political risk dampens investment. Some macroeconomic variables displayed significant explanatory power: market size (as measured by per capita income in the base year) and absolute growth of GDP positively impacts FDI inflows. Other key macroeconomic variables, such as lower current account balance, appreciation of host country's currency, and lower inflation rate stimulate FDI inflows.
其他摘要：The explanatory power of institutional and macroeconomic variables for FDI stock accumulation in developing countries is investigated. Hypotheses are tested by means of pooled least squares regressions. The impact of institutional variables on FDI flows produced mixed results: levels of economic freedom facilitate inward FDI; political risk dampens investment. Some macroeconomic variables displayed significant explanatory power: market size (as measured by per capita income in the base year) and absolute growth of GDP positively impacts FDI inflows. Other key macroeconomic variables, such as lower current account balance, appreciation of host country's currency, and lower inflation rate stimulate FDI inflows.
其他关键词：Institutional theory;macroeconomic theory;foreign direct investment;developing countries;political risk;economic freedom
