Coordenação de Aperfeiçoamento de Pessoal de Nível Superior / A partir da década de 90, a economia brasileira passou por reformas estruturais e liberalizantes, além de intensa interncaionalização produtiva. Este trabalho explora em que extensão a maior participação de IED ajudou ou inibiu o processo de mudança estrutural na indústria, analisando a existência ou não de transbordamento -spillover- de produtividade a partir da presença de empresas transicionais no período de 1998 a 2003 nas cadeias de produtos elétricos, de produtos eletrônicos, de automóveirs, de produtos farmacêuticos e de óleos vegetais. Para isso, foi realizada uma análise realizada neste trabalho indicou a existência de vantagens competitivas, em termos de produtividade, das ETNs aqui instaladas em relação às empresas domésticas. Esse diferencial de desempenho, no entanto, não se mostrou uma fonte de transferência de conhecimentos tecnológicos que pudesse refletir em ganhos de produtividade para as empresas fornecedoras domésticas. Revelou, além disso, que os efeitos sobres as cadeias produtivas são heterogêneos e que o seu conhecimento pode servir de referência para formulação de instrumentos de política industrial. E apontou que há necessidade de explorar resultados a partir de dados básicos para períodos mais longos e de multiplicação de estudos de caso de setores e firmas. / During the 90s, Brazilian economy has passed through structural and liberalizing reforms, besides an intense productive interntionalization. This study explores to what extent FDI helped or hindered those structural changes in industry, analyzing whether positive (or negative) productivity spillovers arose from the presence of TNCs affiates between 1998 and 2003 in some selected industrial chains, as manufacture of pharmaceuticals and manufacture of vegetable oils. The analyzis, based on firm-level data from industrial firms and panel data tchniques, produces evidences consistent with TNCs affilates having higher productivity levels than domestic firms. However, this ackowledge may serve as instruments for industrial policies. At last, the analysis points for the importance of exploring data for longer period of time and of multiplying specifc studies of sectors and firms.

During the 90s the Peruvian state embraced a neoliberal tendency with the objective of reactive the economy with the attraction of Foreign Direct Investment (FDI). The mining sector was one of the most benefits due of these new policy reforms that encouraged the expansion of a number of multinational companies to explore and exploit mineral resources in the most remote places in the country. The arrival of these big companies not only meant a huge macroeconomic growth but also a substantial injection of capital and a change in natural resources access. These changes led to number of protest in the peasant communities located in areas affected by mining that give rise to the creation of new perspectives for achieving local development. One way of studying the interaction between these actors—the mine and communities—is through the use of discourse analysis and narratives.Thereby, this article has the main objective of find out connections among FDI, natural resources access and local development in nine communities of the Ayash river watershed and the multinational Antamina mine company (AMC). In this sense, we used qualitative methods to describe and analyze direct and indirect effects into local communities and into their resources access. We also analyze how the absence of the state may cause an inappropriate use of Corporate Social Responsibility (CSR) and thus motivate communities to claim compensation for environmental damage. Therefore we use Discourse Analysis for outline this protest in development narratives and establish new considerations in current and futures FDI projects in mining. / Durante los años noventa el Estado peruano adoptó una tendencia neoliberal con el objetivo de reactivar la economía con la atracción de Inversiones Foráneas Directas (IFD). El rubro minero fue uno de los sectores más beneficiados por estas nuevas reformas políticas que habilitaron a una serie de compañías multinacionales explorar y explotar los recursos minerales en los parajes más recónditos del país. La llegada de estas grandes empresas no solo significó un enorme crecimiento macroeconómico sino también una cuantiosa inyección de capital y un cambio en el acceso de los recursos naturales. Estos cambios causaron diferentes protestas en las comunidades campesinas ubicadas en las áreas de influencia minera que dan pie a la creación de nuevas perspectivas de cómo lograr un desarrollo local. Una de las maneras de estudiar las interacciones entre estos dos actores —la mina y las comunidades— es mediante el uso del análisis de discurso y narrativas.De este modo, este artículo tiene como objetivo hallar las conexiones entre IFD, acceso a los recursos y desarrollo local en nueve comunidades en la cuenca del río Ayash y la multinacional Compañía Minera Antamina (CMA). En este sentido, se utilizaron métodos cualitativos para describir y analizar los efectos directos e indirectos en la población y en su acceso a los recursos. También se analizará cómo la ausencia del Estado puede dar cabida a un uso inadecuado de la Responsabilidad Social Corporativa (RSC) y, en consecuencia, motivar a las comunidades a reclamar compensaciones por los daños ambientales. Siguiendo esta línea, se utilizará el Análisis de Discurso para esquematizar estas protestas en forma de narrativas de desarrollo y establecer nuevas consideraciones para futuros y actuales proyectos de IFD en minería.

Submitted by Fabio Sobreira Campos da Costa (fabio.sobreira@ufpe.br) on 2017-05-05T12:45:19Z No. of bitstreams: 2 license_rdf: 1232 bytes, checksum: 66e71c371cc565284e70f40736c94386 (MD5) Dissertação_Gardiner_Gabriel.pdf: 3755831 bytes, checksum: 77fadca7de2cf1f6ed974df044baae45 (MD5) / Made available in DSpace on 2017-05-05T12:45:19Z (GMT). No. of bitstreams: 2 license_rdf: 1232 bytes, checksum: 66e71c371cc565284e70f40736c94386 (MD5) Dissertação_Gardiner_Gabriel.pdf: 3755831 bytes, checksum: 77fadca7de2cf1f6ed974df044baae45 (MD5) Previous issue date: 2016-08-22 / OEA- Organização dos Estados Americanos / This dissertation attempts to analyze the concept of political risk, its evolution and application both within the academic and market setting. An endeavor to contribute to the quantification of the political risk field is made via econometric modeling. Overall, 6 different indicators for political risk are employed in the empirical analysis. The results show that political risk is a highly significant determinant to foreign investment inflows on emerging market countries. Though political risk is a phenomenon that is present in all countries both highly industrialized and still developing, this study is focused on the emerging market economy. Due to the rise in importance of the emerging market within the global economy, special emphasis is dedicated towards the new capitalist tools developed by the administrators of the emerging market economy. / Esta dissertação tenta analisar o conceito de risco político, sua evolução e aplicação tanto acadêmica quanto mercadológica. Com um modelo econométrico, pretende-se contribuir para a quantificação no campo do risco político. O trabalho emprega seis indicadores diferentes de risco político. Os resultados mostram que o risco político é um determinante altamente significativo do fluxo de investimento estrangeiro direto nos países de mercado emergente. Embora o risco político seja um fenômeno presente em todos os países, altamente industrializados e também nos ainda em desenvolvimento, este estudo se foca nas economias de mercado emergentes. Devido à crescente importância dos mercados emergentes na economia global, ênfase especial é dedicada aos novos instrumentos capitalistas (fundo soberano, empresa estatal e campeão nacional) desenvolvidos por administradores de economias de mercado emergente.

Announced in 2013, the One Belt One Road(OBOR) Initiative is considered the most important geopolitical development strategy of the 21st-century in the country. The Chinese government aims to promote trade and investment with more than 63 OBOR countries. In this paper, I analyze the impact of One Belt One Road Initiative on China’s foreign direct investment for a period of 2003-2015 with a country level panel data. Other determinants frequently used in the FDI literature such as market size, geographical distance, resources, trading effects and political risks are also considered in the model. The empirical results show that OBOR policy is positively associated with China’s outward FDI flow. I believe the research result indicates a policy related trend for Chinese firms’ overseas investments.

Since 1989 Austria's investment activities in Central and Eastern Europe has intensified. Investments are concentrated in adjacent countries. Geographical proximity and close historical and cultural ties have enabled even small and medium-sized Austrian enterprises to achieve a 'first mover advantage'. Investments have been performed to a large extent in industries that are typically not connected with outsourcing activities (trade, finance and insurance, construction). Market-driven factors and strategic considerations are the ultimate objective of these investments. Only a few sectors, in particular a so-called 'core' industrial sector (metal products, mechanical products, electrical and electronic equipment), indicate that low labour costs are of importance. Trade and sales data of the affiliates support the dominance of the local market. Whilst on average 66% of the affiliates output was sold locally this share was only 39% for the "core" industrial sector. This sector indicates particular patterns of relocation. Nevertheless, until now this part of Austria's FDI has only been of minor importance. (author's abstract) / Series: Department of Economics Working Paper Series

This research contributes to an understanding of Japanese Foreign Investment (JFDI) in Poland, by using a Variety of Capitalism approach and drawing on literature from employment relations. It examines firstly, the extent to which Japanese production and managerial institutions and practices can be transplanted to different economic and cultural environments; and secondly, the character of workers' response towards these practices, in the context of JFDI in Poland. It draws on primary data drawn from interviews conducted with the managers and workers in five firms in a Japanese electronics manufacturing cluster in Toruń, Northern Poland, as well as the policy makers, researchers and journalists on a regional level. First, the transfer of Japanese management 'style' is considered in terms of recruitment, training practices, issues of monitoring and discipline and quality assurance policies. This study reveals that the transfer of Japanese typical practices is of minor importance to Japanese corporations based in Poland, and the character of these practices in the Polish workplace is peripheral. However, the subordination of labour is brought by the precarisation of employment, rather than the implementation of Japanese quality policies. Second, the focus of the research is on the response of workers and finds that they did not remain passive actors in this process and resisted the adapted form of Japanisation in Poland. Although the role of formal trade unions was limited, the data pointed to other forms of resistance, both conventional and novel, from sabotage, absenteeism, humour to insubordination and the use of blogging sites. In the context of the researched labour process, the empirical findings point to markers of collectivism in all forms of worker resistance and hence identified that the collective worker not only has not disappeared from both the labour process debate and the workplace itself, but, even if not evidently, is present through the resistance to management practices and control.

Magister Legum - LLM / This thesis focuses on Foreign Direct Investment (FDI) in Angola and on constraints encountered by investors. It discusses the new Investment Law, resulting from a comprehensive law reform in 2003, as well as investment incentives destined to attract FDI into the territory, furthermore: the legal definitions of FDI and of “Investor”; the Angolan private international law; the main constraints (investment barriers) encountered by investors, after and before entering the Angolan territory; the legal protection afforded to investors, and some examples of FDI and their implications in Angola. The author also analyses investment and intra-trade within the Sub-Saharan region, Angola under modes 3 and 4 of GATS, and other aspects of foreign (as well as private) investment, including on what has been done and what should still be achieved under the SADC Trade, Finance and Investment Protocol from 2005 onwards. This analysis, it is hoped, will contribute to the better understanding of the implications and benefits of FDI in Angola, considering the recent increase of inflows of FDI, as well, as to what extent and how the Government should continue to control and direct, as well as encourage FDI. To conclude, the impact (positive -negative) of FDI in the Angolan society, economy and for the environment will be discussed. Together with the chapters describing the legal framework for FDI, these parts are intended to provide a better insight into the legal, economic and social background for investing and for doing business in Angola, and what type of protection investors can expect from the country, whilst information and academic materials on this subject matter continue to be scarce and difficult to access. / South Africa

Magister Legum - LLM / The objective of this study is to analyse the law relating to exploration and production of oil and gas in Tanzania in relation to the protection of FDI. The analysis will be based on the international standards for the protection of FDI. Some of these standards are contained in international instruments and some of them have attained the status of customary international law. Examples of such standards include: Fair and Equitable Treatment (FET), Full Protection and Security (FPS), non-arbitrariness and non-discrimination, among others. Some international instruments to be referred to include the 1992 World Bank Guidelines on Treatment of FDI and the CERDS.

The first chapter explores the extent to which campaign contributions to politicians in the financial sector can influence the economic performance of the banks. In this paper, I study the relationship between campaign contribution, probability of failure and portfolio investment. I find that there is a significant effect of campaign contributions on the probability of failure and riskier investment portfolio using U.S. state banks. This effect is more pronounced for smaller and less geographically diversified banks. The results are robust for the overall risk taking measure ($Z-score$ and volatility of the return). The result is also robust using the magnitude of contributions. Using bivariate model and Blundell-Bond estimate to control for endogeneity of campaign contributions, I find that the results are robust. Using US legislative data on congressmen from congress.gov, the second chapter (co-authored with Aggey Semenov) investigates the effect of U.S. Congress legislators' non roll--call activity in bill sponsorship and co--sponsorship on campaign contributions from the financial industry. We found that bill sponsorship has positive and significant effect on campaign contributions in both Chambers. Co--sponsorship has positive and significant effect on contributions in the House but not in the Senate. We link this observation to a longer term of senators compare to congressmen; senators have more time to engage in more profitable sponsorship than congressmen. Legislators' efficiency in promoting bills to laws is rewarded by the financial industry. We also conduct robustness checks. Motivated by a large literature on the determinants of Foreign Direct Investment (FDI), the third chapter (co-authored with Roland Pongou) is assigned to understand whether a leader's longevity in office promotes FDI inflows? We answer this question with a novel dataset on the personal characteristics of African leaders covering the period from 1960 to 2011. We find that political longevity increases FDI inflows. The effect is robust to controlling for leader heterogeneity using leader fixed effects. The results remain unchanged when using plausible instrumental variables for political longevity to address possible endogeneity issues, and when estimating a dynamic model. Importantly, the effect of longevity on FDI inflows is only positive for more democratic regimes. Exploring the mechanism, we find that longevity of leaders improves the rule of laws, bureaucracy, property rights, and infrastructure, and reduces corruption. We also find that unobserved characteristics of leaders such as his ability play a role in its longevity and the improvement of institutions.

The inflow of the foreign direct investments (FDI) is often associated with existence of externalities which are created by influence of multinational companies with higher technology level on domestic companies. It is hard to prove some effect of the technology spillovers and other externalities by empirical calculations. Moreover, various results of these actual papers support real discussions among economists about this topic. The goal of my thesis is shed light on this problem by using the sector analysis of the automobile industry which is significant recipient of the government incentives in the Czech republic. I chose the example of the TPCA company. I focused on impacts of the entrance of this automobile maker not only on its suppliers, but also on wage changes in this sector. The conclusions of this analysis should not be considered generally acceptable for all industries. However, the magnitude of the importance of the automobile industry for Czech economy determinates a relevancy of my findings for the total look on the externalities of FDI in the Czech republic.