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  • About
  • The Global ETD Search service is a free service for researchers to find electronic theses and dissertations. This service is provided by the Networked Digital Library of Theses and Dissertations.
    Our metadata is collected from universities around the world. If you manage a university/consortium/country archive and want to be added, details can be found on the NDLTD website.
241

The quality of foreign direct investment inflows in post-socialist transition economies

Acc-Nikmehr, Nataliya January 2016 (has links)
This PhD thesis develops and tests a model of bargaining between foreign investors and domestic institutions in transition countries. For this purpose this research employs a mixed-methods research methodology combining three studies - two macro-level quantitative and one micro-level qualitative - examining various aspects of the relationships between institutional factors and the quality of inward foreign direct investment (iFDI) flows in transition economies (that is, the impact of iFDI on the host country institutional environment). Specifically, emphasizing the circular nature of the relationship between the applied variables, it attempts, firstly, to identify the impact of the institutional environment in post-Soviet and Central and Eastern European countries on the quality of FDI inflows, and, secondly, to determine whether and how this iFDI affects the quality of the host countries’ institutions. The analysis of the presence, size, and direction of the impact of iFDI is pursued through the study of foreign investors’ (FIs) nonmarket strategies with a special focus on political behavior. Despite the growing role of iFDI and of companies with FDI (especially MNEs) as one of the most important rent-seeking interest groups in many economies, the analysis of the impact of iFDI stocks and flows on the host country’s institutional environment has received much less attention than analysis of the impact of host country institutions on iFDI and has, moreover, produced mostly mixed results. This project is intended to fill this gap and to contribute to theory building on the relationships between iFDI quality, foreign investors’ political behavior, various aspects of institutional environment (including institutional voids), and institutional changes in host countries. It finds evidence for the hypothesis that certain combinations of patterns of quality of iFDI and host-country institutional variables determine foreign investors’ (FIs) political influence and political behavior and may also allow them to pursue their economic goals through manipulation of political regimes and, consequently, reshaping of the host country’s institutions in accordance with their strategic goals. The proposed model was tested quantitatively for a sample of 27 post-Socialist countries and qualitatively for the case of Ukraine. The results of all three studies provide evidence in support of this model. In particular, both quantitative panel studies provide evidence for the existence of ‘blind bargaining’ - a model depicting the cognitive situation of a foreign investor who lacks clarity on the situation he/she is in and, as a result is bound to act in conditions of extreme uncertainty due to the high degree of non-transparancy and instability of the “rules of the game” at any given moment and of their propensity for unpredictable change at any time in the future. ‘Blind bargaining’ originates from the specific state and society relationship that can be formed in neo-patrimonial host states where economic decisions are often not directed towards serving national interests, but towards supporting the personal aims of the officials in power. The first quantitative study shows and explains the attractiveness of such countries to riskier investors, who prefer relatively weak political regimes over stronger ones and who reduce their investment inputs once host states become more assertive. This model of relationships leads to the inflow of mostly ‘malign’ FDI (that is, iFDI that has a destabilizing impact on institutional competencies of recipient countries) into these economies. The second quantitative study examines the quality of iFDI flows in 12 post-Soviet states by determining the impact of attracted iFDI on local institutions, as measured by country risk indicators via a pooled regression model. The latter analysis shows that iFDI has a marginally negative effect on some individual country risk measures and a significantly negative effect on others, implying that there is a strong case for questioning the existing orthodoxy according to which the problems of transition can be overcome via increased iFDI. Given the complexity and context-specificity of foreign investors’ political behavior and its impact on host countries’ institutional capacities, this research acknowledges the need for a more targeted analysis at lower levels of aggregation. The thesis addresses this through a qualitative analysis of the relationships between foreign investors and host states in the context of one country - Ukraine. Interviews with company representatives and various experts were conducted to explore how changes in foreign investors’ bargaining power and, as a result, in their strategic choices regarding their political involvement impact the institutional environment in Ukraine. Based on the combination of empirical and theoretical insights described above, a ‘blind bargaining’ model was developed as a special case of the political bargaining model. It provides a comprehensive framework for explaining foreign investor – host state bargaining relationships in neopatrimonial transition economies and reveals several distinctive characteristics of both parties’ behavior in terms of their goals, resources, constraints, the nature of the bargaining process, strategies and outcomes. However, it is suggested that further country-specific tests are necessary to test its applicability beyond the transition countries, particularly in emerging and developing countries.
242

Explaining foreign ownership by comparative and competitive advantage. Empirical evidence.

Bellak, Christian January 1999 (has links) (PDF)
This paper provides empirical evidence on the determinants of foreign ownership in manufacturing industries. Foreign ownership, according to the theory of international production, is the result of the combination of comparative and competitive advantage. An adequate examination of the ownership structure of an industry requires the ability to establish empirically the extent to which international competitiveness of firms rests on comparative and competitive advantage. Analysis is based on a sample of the 30 largest manufacturing firms in Austria. The distinction and definition of comparative and competitive advantage as used in this paper and following from it the conclusions about the ownership structure are consistent with the empirical evidence about the share of employees in foreign-owned firms on the industry level. In particular, the classification of firms as foreign- or domestically-owned is in line with the revealed performance differences between foreign and domestic firms. / Series: Department of Economics Working Paper Series
243

Multinational enterprises and their domestic counterparts. Past research, current issues and future directions.

Bellak, Christian January 2001 (has links) (PDF)
This paper reviews and summarises the results of selected empirical studies on performance gaps between multinational enterprises and their domestic counterparts. Performance gaps arise in such fields as productivity, profitability, wages, skills, factor intensity and growth. Of central interest is the question to what extent is foreign ownership an explanatory factor of performance gaps? Empirical evidence supports the existence of performance gaps between foreign and domestic firms, yet foreign ownership is a much less important explanatory factor than normally assumed. Structural factors like industry, size and multi-nationality per se are more important. It is argued that such results are broadly consistent with those derived in the literatures on ownership change, on foreign entry and on spillovers. The concluding section discusses the normative issue whether there is a case for investment promotion policies to discriminate between firms on the basis of performance gaps by ownership. / Series: Working Papers Series "Growth and Employment in Europe: Sustainability and Competitiveness"
244

The Impact of Enlargement on the Race for FDI

Bellak, Christian January 2004 (has links) (PDF)
This chapter assesses the effects of "Eastern" EU-enlargement on the race for FDI and the policy implications. We start from the proposition that the evolving production patterns of incumbent and new member states determine the need for and the justification of location policy (LP) and FDI promotion policy (FDI-PP). On the basis of empirical production patterns, it is argued that while the specialisation outcome dominates in the short run, the convergence scenario is more likely to prevail in the medium term. Therefore, old and new EU-members will compete increasingly for the same type of FDI. How EU-enlargement per se affects the spatial distribution of inward FDI is described next. The role of FDI-PPs and LPs in an enlarged EU are discussed on the basis of the convergence outcome. Since the new economics of location competition and of FDI-promotion cast serious doubt on the economic justification and effectiveness of FDI-PP, the chapter concludes with a basic dilemma in the race for FDI: namely, the greater ineffectiveness of FDI incentives in the Single Market and fewer possibilities for differentiation of LPs. The latter is due to harmonisation pressures, which calls for innovative policy strategies by central and regional authorities. / Series: Department of Economics Working Paper Series
245

How Domestic and Foreign Firms Differ and Why Does It Matter?

Bellak, Christian January 2004 (has links) (PDF)
This paper reviews and summarises the results of selected studies on performance gaps between multinational enterprises and their domestic counterparts. Performance gaps arise in such fields as productivity, technology, profitability, wages, skills and growth. While these gaps are often attributed to foreign ownership of the affiliates, the theory of the Multinational Enterprise argues that these gaps are due to being a Multinational rather than the nationality of the firm. Empirical evidence on the existence of performance gaps between foreign and domestic firms is supportive of this view: foreign ownership turns out to be a much less important explanatory factor than normally assumed. Firm-specific assets and firm characteristics like industry, size, parent country and multinationality per se are more important. Such results are broadly consistent with those derived in the literatures on ownership change, on foreign entry and on spillovers. We conclude that there is little case for foreign direct investment promotion policies to discriminate between firms on the basis of ownership. / Series: Department of Economics Working Paper Series
246

Economic Impact of Investment Agreements

Bellak, Christian 08 1900 (has links) (PDF)
Based on a thorough analysis of theoretical arguments, this meta-analysis does not find a genuine empirical effect of Bilateral Investment Treaties on Foreign Direct Investment after correcting for publication selection bias. / Series: Department of Economics Working Paper Series
247

Effective tax rates as a determinant of foreign direct investment in Central- and East European countries. A panel analysis.

Bellak, Christian, Leibrecht, Markus January 2005 (has links) (PDF)
The Central- and East European Countries have lowered their corporate tax rates substantially in order to induce shifts of production capacity to their countries. This paper analyses empirically how inward Foreign Direct Investment (FDI) flows channeled to these countries reacts to these tax policies. We estimate a panel of 35 bilateral country-relationships over a period of 1995-2002. Results suggest a semielasticity of -2.93 which is in line with results derived in studies mainly on OECD countries. This indicates that from an individual country perspective, tax-lowering strategies have been successful in the past, yet they may not be a successful policy option for the future when privatization-related FDI will decrease. / Series: Discussion Papers SFB International Tax Coordination
248

Attracting foreign direct investment: the public policy scope for South East European countries

Bellak, Christian, Leibrecht, Markus, Liebensteiner, Mario 12 1900 (has links) (PDF)
Based on earlier empirical literature for Central and Eastern European Countries this paper attempts to analyze the likely impact of changes in corporate income taxes, in the endowment with production-related material infrastructure and in the institutional environment on Foreign Direct Investment (FDI) - and thus on one channel of regional development in South Eastern European Countries (SEECs). Specifically, we explore the scope for public policy to attract FDI separated by these three policy areas and across the SEECs. Our findings suggest that the potential for SEECs to attract FDI upon changes in these policy areas varies not only substantially between the three policy areas but also within the group of SEECs. Yet, as a general picture, most SEECs have substantial scope to attract FDI by improving their institutional environment as well as their infrastructure endowment. The tax instrument, in contrast, is largely exhausted as a means to attract FDI. Based on these findings some medium- and long-term policy issues are outlined.
249

Atraktivita České republiky pro přímé zahraniční investice v předkrizovém a postkrizovém období: regionální diferenciace a posouzení vlivu na rozvoj Jihočeského kraje / Attractiveness of the Czech Republic for Foreign Direct Investment during Before Crisis Period and Post-Crisis Period: Regional Differentiation and Evaluation of Impacts on Development of South Bohemian Region

CHEBOTAROVA, Kateryna January 2017 (has links)
This diploma thesis is focused on evaluation of foreign direct investment inflow to the Czech Republic, evaluation of their territorial and sectoral structure, analysis of regional distribution FDI on territory of the Czech Republic and their impacts on development of South Bohemian region.
250

The determinants of foreign direct investment distribution among the Brazilian states

Villar, Suraya Marcondes Cabral 08 December 2014 (has links)
Submitted by Suraya Marcondes Cabral Villar (surayamcabral@gmail.com) on 2015-01-07T18:45:05Z No. of bitstreams: 1 Formatação_Final_V3.pdf: 1026311 bytes, checksum: 06f0e4ea31ce41d62ca47f4b122ee76d (MD5) / Approved for entry into archive by Ana Luiza Holme (ana.holme@fgv.br) on 2015-01-07T18:50:11Z (GMT) No. of bitstreams: 1 Formatação_Final_V3.pdf: 1026311 bytes, checksum: 06f0e4ea31ce41d62ca47f4b122ee76d (MD5) / Made available in DSpace on 2015-01-07T20:09:55Z (GMT). No. of bitstreams: 1 Formatação_Final_V3.pdf: 1026311 bytes, checksum: 06f0e4ea31ce41d62ca47f4b122ee76d (MD5) Previous issue date: 2014-12-08 / O Investimento Estrangeiro Direto (IED) tem desempenhado um papel importante no esforço do Brasil para tornar-se uma economia orientada para o mercado. De 1995 a 2012 o Brasil recebeu $ 511.5 bilhões de dólares em IED. Em 2012, o Brasil foi o segundo país em desenvolvimento que mais recebeu IED e o quarto no mundo (UNCTAD).Devido à concentração geográfica, os estados brasileiros que são consideravelmente menos desenvolvidos e mais pobres, são aqueles que mais precisam de investimentos e que no entanto, não têm sido receptores relevantes de IED. Em 2010, os estados com os maiores estoques de IED foram São Paulo, com 42,3 por cento do total ($ 99,9 bilhões de dólares), Rio de Janeiro com 13,3 por cento ($ 31,4 bilhões de dólares) e Minas Gerais com 10,6 por cento do total ($ 25,1 bilhões de dólares). Como pode ser observado, apenas três dos vinte e sete estados brasileiros receberam cerca de 66 por cento do total de IED destinado ao Brasil.Dada tal diferenciação na distribuição de IED entre os estados brasileiros, o presente estudo busca explicar se o benefício tributário também é determinante para o fluxo de IED, além das demais variáveis já consideradas como determinantes em outros estudos. Dada a limitação de dados, realizamos duas análises econométricas com dados em painel: 1. Usando seis variáveis chaves: tamanho do mercado consumidor, a qualidade da mão de obra, infraestrutura, custo da mão de obra, carga tributária e benefício tributário (por macro regiões), nos anos de 1995, 2000, 2005 and 2010; 2. Usando cinco variáveis: as mesmas do primeiro modelo, excluindo o custo da mão de obra (por falta de dados) e utilizando os dados de benefício tributário por estado, nos anos de 2010, 2011 e 2012. / FDI has played an important role in Brazil’s push towards a market oriented economy. From 1995 to 2012, Brazil has received $ 511.5 billion dollars in FDI. In 2012 Brazil was the second largest developing country recipient of FDI and the fourth worldwide (UNCTAD).Due to geographical concentration, Brazilian states which are considerably less developed and poorer, and as a result, in greater need of capital investment, have not played host to FDI in a significant way. In 2010, states with the largest stocks of FDI were São Paulo with 42.3 percent of the total ($ 99.9 billion dollars), Rio de Janeiro with 13,3 percent ($ 31.4 billion dollars) and Minas Gerais with 10,6 percent of the total ($ 25.1 billion dollars). As can be observed, only three of the twenty-seven Brazilian states received around 66 percent of the total FDI intended to Brazil.Given such differentiation in the distribution of FDI among Brazilian states, this study seeks to explain if tax benefit is also a determintant of FDI inflow, besides the other variables already considered as determinant. Given the limitation of data, we performed two econometric analysis with panel data: 1. using six key variables: size of the consumer market, quality of workforce, transportation infrastructure, cost of labor, tax burden and tax benefit (by macro regions), in the years 1995, 2000, 2005 and 2010; 2. using five key variables: the same as the first model, excluding the cost of labor (for lack of data) and using the tax benefit data by state, in the years 2010, 2011 and 2012.

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