This literature review analyzes the global phenomenon of international project finance (PF) as both a management and finance instrument, allowing practitioners to realize large scale infrastructure projects in high risk contexts. After describing the characteristics of PF, its historical origins and its unique benefits for empirical inquiry, I summarize the findings of academic research from an interdisciplinary perspective. Based on this integration of Finance, Management and International Business research, I discuss the theoretical implications for each field that emanate from PF. Finally, I identify possibilities for future research and propose a more balanced, interdisciplinary academic treatment of PF.

Company-taxation policies in the Central and East European New Member States (CEE-NMS) have been frequently characterised as tax-cutting strategies in order to attract Foreign Direct Investment (FDI). On the basis of a survey of six empirical studies a median value of the tax-rate elasticities of FDI of -0.22 in CEE-NMS and mediterranean periphery countries is derived. Yet, these tax-rate elasticities probably suffer from a sort of measurement error bias since these studies entirely rely on the host country Statutory tax rate as measure of tax burden. Building on a thorough criticism of FDI as a measure reflecting multinational activity and the Statutory tax rate as a reliable measure of the effective tax burden, 315 effective average bilateral tax rates (BEATR) are calculated for seven home countries and five CEE-NMS for the period 1996-2004, following the approach of Devereux and Griffith (1998). Since our empirical results show substantial differences in the variability of the host country Statutory tax rates and the BEATRs, it is contended that the latter should be used as explanatory variables in empirical studies. / Series: Discussion Papers SFB International Tax Coordination

This thesis focuses on the influence of foreign investment on the environment. Foreign investment is an important factor of economic growth, but it also has a number of negative aspects. The theoretical part describes the impact of foreign investment, the issue of environmental sustainability and of environmental policies, and the successes of the Integrated Pollution Register. The aim of this thesis was to verify the hypothesis that foreign investors violate the environmental legislation. A database of polluters in the Czech Republic was compiled based on ownership, and the extent of polluting by Czech and foreign investors was subsequently assessed. The practical part uses statistical and comparative methods to evaluate and compare the results.

A década de oitenta, no Brasil, foi marcada por crises sucessivas da dívida externa, problemas inflacionários e baixas taxas de crescimento. Neste cenário, surgem idéias favoráveis à abertura da economia e em especial quanto ao Investimento Direto Estrangeiro (IDE), como forma se superar a restrição externa e possibilitar a retomada do crescimento econômico. Entretanto, também existiam justificativas de cunho mais microeconômico. Acreditava-se que as Empresas Nacionais (EN) sofreriam um choque de competitividade ao disputarem mercados com produtos importados de melhor qualidade e principalmente com o ingresso de Empresas Multinacionais (EMN) mais modernas e eficientes. Conseqüentemente, as EN iriam aumentar sua produtividade através do chamado efeito de transbordamento. As EMN, por serem muito eficientes, detentoras e desenvolvedoras de altas tecnologias de produção e técnicas de gestão modernas acabariam causando, de alguma forma, externalidades positivas às EN. Este fato teria como conseqüência o aumento da produtividade das EN. Neste contexto, o Brasil toma diversas medidas que favorecem o ingresso do IDE e a partir de meados da década de noventa passa a receber uma enorme quantidade deste capital, atingindo seu ápice no ano 2000. Entretanto, no início desta década o fluxo do IDE no Mundo e no Brasil apresentaram forte queda. Em 2003, o IDE retomou uma trajetória crescente mundial e o Brasil tem se destacado novamente na recepção deste tipo de capital. Este trabalho analisa os esforços de mensuração dos efeitos de transbordamentos do IDE sobre a produtividade das EN no Brasil. A análise toma por base as interpretações teóricas e empíricas sobre o tema no mundo e no Brasil. A despeito da identificação de alguns efeitos de transbordamentos positivos, ressaltam-se que as medidas tomadas em favor do IDE preocuparam-se basicamente em atraí-lo ao país. Neste sentido, fazemos uma discussão de proposições de políticas públicas e ações institucionais para potencializar as externalidades positivas do IDE sobre as EN no Brasil. / The eighteen decade, in Brazil, was marked by successive external debits crisis, inflationary problems and low rates of growth. In this scenario, thoughts favorable to openness of the economy emerge, in especial related to Foreign Direct Investment (FDI), as a way of overcome the external restriction and make possible the return of the economic growth. However, there were justifications more related to microeconomics matters. It used to believe that Nationals Enterprises (NE) would suffer a competitive shock by fight for market-share with imported products of better quality and mainly with the ingress of Multinationals Enterprises (ME), more modern and efficient. Consequently, the NE would increase their productivity through the spillover effects. The ME, as a consequence of being very efficiencies, owner and developer of high of production technologies and modern manager techniques, would cause by some how positive externalities to the NE. This fact would result in the increase of productivity of the NE. In this context, Brazil took several steps to facilitate the ingress of FDI and since middles of the nineties decades started to receive a huge amount of the capital, heating its top in the year 2000. Nevertheless, at the beginning of this decade the flux of FDI in the World and in Brazil had a strong drop. In 2003, the FDI retook a growing trajectory worldly and Brazil has been outstanding again in the reception of this type of capital. This work analyses the efforts of measurement of the spillover effects of FDI in the productivities of NE in Brazil. The analysis takes in account the theoretical and empirical interpretations about the theme in the world and in Brazil. In spite of the identification of some positives spillover effects, we highlight that the measures took in favor to the FDI were basically worried in attract it to the country. In this sense, we discuss propositions of public politics and institutional actions to potentize FDI’s positives externalities over the NE in Brazil.

This submitted graduation theses puts brain to questions of foreign direct investment in relations to regional development. This phenomenon is nowadays noticed firstly like an important catalyzer of the economical develop of economy. The opening chapters put brain to themes, objectives of the works and primary scientific literature. In the chapter methodial notes are defined the basical methods of work (Method of definition of specifical region, progres of work with statistical data and several solution). Following chaptures are turned partly to a phenomenon of foreign direct investment on a world and especially on a czech wide scale, partly to a construct of the region and regional develope. The last but one chapture presents chosen characteristics of physiography and social geography. The last part converts continuous evaluation at first of the all economical subjects and then with a view to the international subjects carrying business in the surveyed region.

The study investigates the financial sector development threshold levels that would influence FDI inflows. The threshold levels identified are 41.27% of stock market capitalisation for stock market turnover, 53.55% of GDP for stock market value traded, 121.53% of GDP for stock market capitalisation, 114.43% of GDP for domestic credit to private sector by banks, 144.06% of GDP for domestic credit provided by financial sector, 0.22% of GDP for outstanding domestic private debt securities and 41.26% of GDP for outstanding domestic public debt securities. The results show that higher stock market and banking sector development above the threshold level positively and significantly influence FDI inflows whilst the influence of lower stock market and banking sector development on FDI inflows was weak and less significant. Levels of private bond market development equal to or greater than the threshold level are found to have a positive but non-significant impact on FDI inflows whereas private bond market development levels less than the threshold has a weaker positive and non-significant influence on FDI inflows. On the contrary, public bond market development levels equal to or greater than the threshold level negatively influenced FDI inflows whilst levels of public bond market development less than the threshold positively but non-significantly attracted FDI inflows into emerging markets. / Business Management / Ph. D. (Management Studies)

xii, 132 p. : ill. A print copy of this thesis is available through the UO Libraries. Search the library catalog for the location and call number. / Motivated by conflicting prior evidence for exchange rate effects on foreign direct investment (FDI), the first chapter of this dissertation explores theoretical evidence of the exchange rate effect on FDI in terms of different types of FDI. Based on a simple two-country model, I demonstrate that the profit function of a horizontal FDI investor is a decreasing function of the exchange rate, while the profit function for a vertical FDI investor is an increasing function of the exchange rate. This implies that a depreciation of a host country currency depresses horizontal FDI and promotes vertical FDI. Moreover, comparing the FDI investor's intertemporal profit in a simple two-period time frame, I lay out a theoretical basis for a relation between the effects of the exchange rate and the expectations of the exchange rate effect on different types of FDI. The second chapter of this dissertation examines the empirical evidence for the exchange rate effects on different types of FDI. Using cross-border mergers and acquisitions among 37 countries from 1985 to 2007, I measure horizontal and vertical FDI in 4 different ways, and constructing directional country pairs, I estimate the exchange rate effects on horizontal and vertical FDI by a Poisson and a negative binomial regression with fixed and random effects. The estimation results provide considerable support for the model's predictions of the first chapter. The third chapter of this dissertation extends the first and second chapters with an analysis of the effect of exchange rate expectations on different types of FDI. I examine 4 different measures of exchange rate expectations. Using a methodology similar to that in the second chapter, the estimation results suggest that the expected exchange rate effects on horizontal and vertical FDI are not very significant. However, the expectations of the exchange rate shed more light on the exchange rate effects on different types of FDI under all of the exchange rate expectation measures. This suggests that the exchange rate is a more influential determinant of the allocation of different types of FDI than the expected exchange rate. / Committee in charge: Bruce Blonigen, Chairperson, Economics; Jeremy Piger, Member, Economics; Stephen Haynes, Member, Economics; Neviana Petkova, Outside Member, Finance

Chile se ha convertido en un importante inversor en América Latina principalmente por el incremento y la diversificación de sus inversiones desde el año 2000, presentando así, un alto nivel de participación en la región. En el periodo 2000-2014 este país ha invertido más de US$ 71.000 millones en el mundo, de los cuales el 80% del total invertido está localizado en Suramérica, siendo esta región el principal destino de la inversión chilena directa. Dentro de éste contexto, el Ecuador a diferencia de otros países como Perú y Colombia, sus vecinos más próximos, es un país que no ha logrado captar gran parte de la inversión chilena en la región, sino que al contrario se caracteriza por ser uno de los últimos destinos de dicha inversión (DIRECON, 2014). El presente estudio de caso tiene como objetivo hacer un análisis que explique la situación de los flujos de inversión chilena directa en Ecuador, con la finalidad de determinar las razones del porqué Chile invierte menos en Ecuador que en otros países de Suramérica. / Chile has become a major investor in Latin America mainly due to the increase and diversification of their investments since 2000, thus presenting a high level of participation in the region. From the period 2000-2014 this country has invested more than US $ 71 billion worldwide, of which 80% of the total invested is located in South America, this region being the main destination of Chilean direct investment. Within this context, Ecuador unlike other countries such as Peru and Colombia, its closest neighbors, is a country that has failed to capture much of the Chilean investment in the region, but instead is characterized as one of the last destinations of this investment (DIRECON, 2014).

This thesis deals with the areas of foreign direct investment. But it is not about coverage of this issue from a macro-economic level, but on coverage and introduction to this issue in the regional context. Here, he was elected the South Bohemia region, which is from the point of view of potential foreign investors to the region rather peripheral. This work examines the issue of foreign direct investment, describes their relationship to regional development in General. Introduces and analyzes the State of foreign direct investment in the selected region, structure and allocation. Checks whether these investments generate a multiplier effect. Analyzes whether these investments have a direct impact on the life of the region, whether in response to changes in the structure of employment, the movement of labour in the region, served, to more extensive housing construction.

This M. A. thesis evaluates the impact of big investments on the spatial structure and the development of Kolín. It includes the analysis of the investment environment development in the Czech republic after 1989, the problematics of industrial zones, foreign direct investments, urbanization and spatial structure of a city. On the basis of literature and data studies the author applies all the gained theoretical pieces of knowledge on the city of Kolín. The main aim is to define the most important processes (especially those connected with industrial production) that lead to significant changes and to the growth of the city.