A közvetlen külföldi befektetések és a korrupció közötti kapcsolat (The connection of Foreign Direct Investment and corruption)

A szerzők tanulmányának középpontjában a közvetlen külföldi befektetések és a korrupció kapcsolata áll. Feltételezésük az, hogy a közvetlen külföldi befektetők a kevésbé korrupt országokat kedvelik, mivel a korrupció egy további kockázati tényezőt jelent a befektetők számára, amely növelheti a befektetések költségeit. Megítélésük szerint ezt kvantitatív módszerekkel érdemes vizsgálni, így elemzésük során 79 országot vizsgálnak meg tíz évre vonatkozó átlagokkal a Gretl-program és az OLS becslőfüggvény segítségével. Több modell lefuttatása után azt az eredményt kapták, hogy a közvetlen külföldi befektetők döntéseiben a korrupció szignifikáns tényező, a két változó között negatív korrelációt figyeltek meg. / === / The study focuses on the connection of Foreign Direct Investment and corruption. The authors assume that investors prefer countries where corruption level is lower, as corruption an additional risk factor that might increase the cost of investment. They believe that the best way to prove the previous statement if they use quantitative methods, so they set up a model where 79 countries are tested for 10 years averages, with the help of the Gretl and OLS estimator. After running several models their finding was that corruption is a significant factor in the decisions of foreign investors, and there is a negative correlation between corruption and FDI.

Korrupció: mérhetőség és modellezés = In the core of our study we focus on the connection of Foreign Direct Investment and corruption.

Tanulmányunk középpontjában a közvetlen külföldi befektetések és a korrupció kapcsolata áll. Feltételezésünk az, hogy a közvetlen külföldi befektetők a kevésbé korrupt országokat kedvelik, mivel a korrupció egy további kockázati tényezőt jelent a befektetők számára, amely növelheti a befektetések költségeit. Megítélésünk szerint ezt kvantitatív módszerekkel lehet a leginkább vizsgálni, így elemzésünk során 79 országot vizsgálunk meg 10 évre vonatkozó átlagokkal a GRETL program és az OLS becslőfüggvény segítségével. Több modell lefuttatása után azt az eredményt kaptuk, hogy a közvetlen külföldi befektetők döntéseiben a korrupció szignifikáns tényező, a két változó között negatív korrelációt figyelhetünk meg. ____ We assume that investors prefer countries where corruption level is lower, as corruption an additional risk factor that might increase the cost of investment. We believe that the best way to prove the previous statement if we use quantitative methods, so we set up a model where 79 countries are tested for 10 years averages, with the help of the GRETL and OLS estimator. After running several models our finding was that corruption is a significant factor in the decisions of foreign investors, and there is a negative correlation between corruption and FDI.

Foreign Direct Investment and Political Uncertainty

Recent developments in the general equilibrium theory of multinationals emphasize the importance of multilateral considerations. Yet, existing explanations and corresponding estimations of FDI patterns have largely limited political and institutional investment impediments to a bilateral framework. Through the application of spatial econometric techniques, I demonstrate that the presence of both domestic and regional political uncertainty generate real options effects that lead to the delay or redirection of foreign direct investment. The magnitude and direction of these effects is conditional upon the host country regime type and the predominant multinational integration strategies in the region. Comparing these results with FDI of U.S. origin, I find evidence for divergent investment behavior by U.S. multinationals during regime changes in partner countries. Additionally, I find no evidence that multinationals from developing countries are more likely to complete cross-border deals in environments characterized by greater political risk or political uncertainty.

Foreign Direct Investment and Country Risk::Is There Evidence of 'Malign Investment in the Former Soviet States'

This paper examines the relationship between concepts of MNE bargaining power and broader concepts of political power. It notes that the analysis of MNE bargaining power presents a number of puzzles from the perspective of political theory. These puzzles arise, in part, from the fact that the overlap between traditional concepts of MNE bargaining power and broader concepts of political power is only a partial one. Despite these problems, it is suggested that political- theory-based approaches can add realism to our understanding of bargaining power.

Pro-internationalisation policies and outward foreign direct investment

This thesis addresses the impacts of public policies on outward foreign direct investment, seeking to contribute to a better understanding of the interplay between pro-internationalisation policies and firm behaviour. Home country measures associated with these policies are explored in terms of use and awareness, as determinants of foreign direct investment, as drivers of policy objectives, in terms of perceived importance and impact in different scenarios of internationalisation. Using a comprehensive database of 441 Portuguese firms, being those that had participated at least in one of the 11 types of public support between 1994 and 2009. The empirical papers presented here reveal a moderating effect of firm capabilities and internationalisation conditions on policy objectives. In fact, firms’ resources and capabilities frame the awareness and use of home country support measures, the existence of public policy determinants of foreign direct investment, the decision to carry out more aggressive modes of entry and the choice of more demanding environments, the impact of policy objectives, and the perceived importance of incentives. In practical terms, the findings of this thesis points that firms’ resources and capabilities are negatively associated with the use of public support, contrasting with awareness, which is found to increase with firms’ resources and capabilities. This insight sheds light on a potential problem of incentives allocation. Our results support the established theorizing about the co-evolution of government and firms' policies, home country measures being found as determinants of foreign direct investment. It is also shown that prointernationalization policies reinforce the firms’ resources and capabilities, which seems to have a positive impact on international growth. An evaluation of public policy, from the foreign direct investor's lens, supports the argument that firms involved in more demanding projects tend to attribute more importance to public supports. Behind the specific and concrete contributions identified in each of the empirical papers, as a whole this thesis makes methodological contributions by introducing the evaluation of impacts of public policies to the field of international business through the firm perspective; these contributions are achieved by taking the pro-internationalisation policies of a small open economy to better understand the impacts of public policies, and by shedding light on co-evolution between resource and institutional-based views.