This thesis complements current studies by focusing on developed OECD countries as they are the major sources and recipients of world FDI and current studies relating to developed countries using aggregate country FDI data are limited. This study empirically tests the determinants of FDI inflows and outflows and their relationship with economic growth using 2SLS simultaneous equations model between 1981 and 2008 for a sample of 20 developed OECD countries. The empirical findings suggest that FDI inflows do not contribute to economic growth in the host country and economic growth positively affects FDI inflows. In addition, trade openness and flexible employment protection legislation in the host country attract FDI inflows. In terms of FDI outflows, the results show that FDI outflows reduce economic growth in the home country, while economic growth in the home country increases FDI outflows. Moreover, high past level of outward FDI stock, trade openness, low labour cost and currency depreciation in the home country provide incentives for domestic firms to invest abroad. Therefore, this study does not support offering special incentives to foreign investors to attract FDI inflows or offering promotional policies to domestic firms to encourage FDI outflows. Instead, government should provide incentives for domestic investment and other sound policies to increase economic growth, which in itself provides a good environment to attract FDI inflows and to encourage FDI outflows. Keywords: FDI inflows, FDI outflows, two stage least squares simultaneous equations, economic growth, labour market flexibility.

This study investigates the major factors that have restricted the flow of foreign direct investment (FDI) into the oil sector in Libya. The study focuses on the period from 2000 to 2009. This period is significant since, during this time Libya witnessed dramatic foreign and economic policy changes. The research objectives are: (1) To identify the determinants of foreign direct investment into Libya’s oil industry for the period 2000-2009; (2) To reveal the obstacles and barriers which hinder FDI in Libya’s oil industry; (3) To determine the extent that the Libyan Government FDI policy influenced FDI in Libya’s oil industry. The rationale for this thesis was driven by filling an empirical void of FDI studies on the oil industry in Libya and by the intention of providing practical insights for current and future Libyan governments. This study comprises of an analysis of the 30 multinational (MNCs) oil companies that are operating in the Libyan oil industry through questionnaire and interview data from executives employed by those MNCs, as well as data from ten Libyan senior government officials involved in the Libyan oil industry and/or FDI policies. The research has provided support for several of the determinants of FDI flows traditionally found in the literature. The survey and time series analysis further reveals that access to Libya’s proven oil and gas reserves was the singular most important determinate for influencing the MNCs to undertake FDI. Furthermore, the findings identified that Libyan government foreign policy had some impact on the MNCs decision to undertake FDI. The research findings with regards to the role played by environmental risk as a determinate of FDI, demonstrate that there is no significant relationship between overall levels of environmental risk and a country‘s performance in attracting FDI. Also, this research has identified a number of factors that are causing obstacles and challenges to the attractiveness of Libya as a location for foreign investment. It has revealed that MNCs are significantly dissatisfied by the stability of the public institutions and the lack of effective regulations in Libya.

This thesis explores the late-nineteenth century partnership between Bradford worsted manufacturers the Briggs brothers and the German merchant Ernst Posselt, and their subsequent foreign direct investment in a modern factory and workers’ community at Marki, near Warsaw, in Russian Poland. Protectionism and increasing foreign competition are discussed, among many complex economic pressures on British industry, as likely catalysts for this enterprise and the general historiography of the Polish lands is explored to reveal a climate of extraordinary opportunity for well-capitalised foreign industrialists in this period. This thesis provides fresh perspective on the role of the consular service in facilitating British foreign enterprise and, in context of the Bradford partners’ strategy for local integration through social networking and religious affiliation, presents unique findings regarding the character and operations of Warsaw’s elite commercial community in the late-nineteenth century. Through the development and domination of market and raw materials sources, this venture is shown to have monopolised worsted manufacture in the Russian Empire, using state of the art technology to create, and modern marketing techniques to promote, its product range and evolving image. Aspects of British and Polish social history are compared to assess the efficacy of introducing the model-community concept, in combination with a radical employment policy, to less industrially-developed Russian Poland. The instrumentality of an expatriate community of skilled Yorkshire foremen in diffusing British industrial technology throughout the Russian Empire is described, against a backdrop of political instability and social upheaval which dramatically impacted on business behaviour after 1905. / The full text was made available on 29th Nov 2017

Academics have majorly explored the positive and negative economic spillover and linkages effects of FDI on economic growth, local wages, productivity and technological knowledge. Nonetheless, alternative benefits induced by FDI on social development have been neglected to be explored in-depth, constraining scholarly contributions to welfare economics. Although preceding works have studied social development factors, they traditionally have been addressed as either positive, negative or neutral in different pockets of academic literature. Moreover, none of them offers a robust empirical/structural framework linking FDI and social development. Panel data figures of MNEs classified as FDI recipients in the Republic of Panama are employed in proposing an empirical/structural framework explanatory of the bidirectional association and causal mechanisms between FDI and social development, using the Social Progress Index as a proxy, moderated by proxy variables of productive linkages and household income. A lop-sided circle, negatively inclined on the association flowing from social development to FDI, is suggested to exist. A ‘weak’ positive effect of FDI on social development is found, supported by a locked-in stable loop of FDI yearly feeding on MNEs profit’s reinvestments. Social development is also found to be in a locked-in stable loop, directly exerting a ‘strongly negative’ impact on FDI, which suggests being a constraining determinant for the country to attract ‘green field’ FDI. The empirical/structural framework herein proposed aims to guide future academic research in welfare economics and also serve policymakers in Panama for understanding and structuring national policies to unlock the self-reinforcing path dependency mechanisms preventing social development potential from being unleashed.

This dissertation focuses on Foreign Direct Investment (FDI) in the oil sector of Africa, more specifically in Nigeria and Angola. A large problem faced by most African countries is their low domestic investment. This is due to the low savings rates in these countries. FDI serves as a supplement to domestic investment and therefore allows for increased production and growth in the region that can ultimately lead to better development. Further, FDI brings forth positive spill over effects that can further increase levels of development in African countries. Therefore, it is beneficial for African countries to achieve higher levels of FDI inflows. The African oil sector has, in recent years, received much deserved attention as Africa supplied approximately 11 percent of worldwide oil supply and the African untapped oil reserves constitute approximately 10 percent of the total worldwide proven oil reserves in 2010. There are currently 19 African countries known to have significant oil reserves and further surveying may increase this number. This dissertation focuses on Nigeria and Angola as these countries are the continent’s largest producers of oil and their oil sectors are the sectors with the strongest FDI inflows. Through economic and policy reforms and increased share in global oil supply, it is believed that these countries can be the drivers of economic growth and development in the region. Greater FDI is needed to fully exploit the available oil resources. Although many studies have been done on the factors that attract FDI, very few studies have focussed on oil sector specific FDI. Therefore, the aim of this dissertation is to determine and compare the factors that attract oil sector FDI in Nigeria and Angola. This dissertation undertakes both a literature review and an empirical analysis. The literature review provides an overview of FDI theory, the motives for investment, the types and benefits thereof; an overview of the African and, more specifically, the Nigerian and Angolan oil industry and the influence that FDI inflows have had on this sector. The current FDI inflow trends and oil sector FDI in Nigeria and Angola are reviewed. The dissertation examines and compares the current state of the Nigerian and Angolan oil industries. The empirical analysis consists of a country comparison through four least square regression models (domestic models for Nigeria and Angola and global models for both countries) using data between 1990 and 2011 obtained from the World Data Bank and the 2012 BP statistical review. The data used will describe the traditional determinants of FDI inflows as set out in literature review and other determinants derived from past studies of FDI inflows in transitional economies and oil sector dependent countries. In Nigeria and Angola, the problems of lack of accurate and sufficient data over a longer time period persist, as they do in most African countries. The main findings are that significant domestic influences of FDI inflows in Angola include: lower public power to entice private gain; better policies that are effectively enforced to improve civil and public services; and the proven oil reserves. This entails that government policy, transparency and their oil reserves are held in high regard by the foreign investors in Angola. In Nigeria, however, domestic influences of FDI inflows include: better citizen ability to select a government; freedom of expression; freedom of association and a free media; better ability of the government to formulate and implement sound policies and regulations that permit and promote private sector development; and oil production. This indicates that democracy, government policy and oil production are highly regarded by foreign investors who invest in Nigeria. Therefore, it can be argued that, even though results for factors influencing FDI inflows differ, there are similarities as government policy and the oil sector in general influence both countries even though the issues in both countries are not necessarily the same. However, on a global level, investment in the two countries is driven by completely different factors. According to the models, Angolan FDI inflows are driven by global oil production (supply) in the previous year whereas FDI inflows in Nigeria are correlated to the oil price in the previous year. Both of these models, however, leave much to be desired as they have low R2 values which indicate that they explain very little of what influences FDI inflows in the countries. / MCom (International Trade), North-West University, Potchefstroom Campus, 2014

Foreign Direct Investment, in spite of several challenges, is hailed as one of the vehicles for economic development, especially in developing countries. In the tourism industry, FDI brings much needed capital, technology, marketing skills and operations systems that would otherwise not be available in the host country. Both developed and developing countries are always competing to attract FDI to their countries. The primary goal of this study was therefore to investigate factors that investors consider when undertaking FDI into the tourist accommodation sector in Malawi. Malawi remains one of the few countries in Africa which has not attracted meaningful FDI into its tourist accommodation sector. The objective of the study is fourfold; to analyse foreign direct investment, to identify country and industry level factors that influence tourism FDI, to analyse Malawi's general investment climate and to make recommendations to government and industry on attracting FDI. The study conducted a literature study on general FDI and tourism-specific FDI and the Malawi investment climate. An empirical study was carried out, through a quantitative research method. The sample was derived using a probability sampling method and was extracted from a national tourist accommodation database. The research found that there is a strong relationship between the source country of tourist accommodation FDI in Malawi and tourist source countries. It also found that economic factors, perception and infrastructure, government policy, competitiveness and nature are important considerations when investing in the Malawi tourist accommodation sector, in that order. Industry level factors that respondents found important are protection of investment, availability of fresh water, labour disturbances I unrest and tourist receipts. Whilst the Malawi government uses investment incentives as a key to FDI attraction, researchers found that incentives are not ranked as important to prospective investors. / MCom (Tourism Management), North-West University, Potchefstroom Campus, 2012

This dissertation focuses on Foreign Direct Investment (FDI) in the oil sector of Africa, more specifically in Nigeria and Angola. A large problem faced by most African countries is their low domestic investment. This is due to the low savings rates in these countries. FDI serves as a supplement to domestic investment and therefore allows for increased production and growth in the region that can ultimately lead to better development. Further, FDI brings forth positive spill over effects that can further increase levels of development in African countries. Therefore, it is beneficial for African countries to achieve higher levels of FDI inflows. The African oil sector has, in recent years, received much deserved attention as Africa supplied approximately 11 percent of worldwide oil supply and the African untapped oil reserves constitute approximately 10 percent of the total worldwide proven oil reserves in 2010. There are currently 19 African countries known to have significant oil reserves and further surveying may increase this number. This dissertation focuses on Nigeria and Angola as these countries are the continent’s largest producers of oil and their oil sectors are the sectors with the strongest FDI inflows. Through economic and policy reforms and increased share in global oil supply, it is believed that these countries can be the drivers of economic growth and development in the region. Greater FDI is needed to fully exploit the available oil resources. Although many studies have been done on the factors that attract FDI, very few studies have focussed on oil sector specific FDI. Therefore, the aim of this dissertation is to determine and compare the factors that attract oil sector FDI in Nigeria and Angola. This dissertation undertakes both a literature review and an empirical analysis. The literature review provides an overview of FDI theory, the motives for investment, the types and benefits thereof; an overview of the African and, more specifically, the Nigerian and Angolan oil industry and the influence that FDI inflows have had on this sector. The current FDI inflow trends and oil sector FDI in Nigeria and Angola are reviewed. The dissertation examines and compares the current state of the Nigerian and Angolan oil industries. The empirical analysis consists of a country comparison through four least square regression models (domestic models for Nigeria and Angola and global models for both countries) using data between 1990 and 2011 obtained from the World Data Bank and the 2012 BP statistical review. The data used will describe the traditional determinants of FDI inflows as set out in literature review and other determinants derived from past studies of FDI inflows in transitional economies and oil sector dependent countries. In Nigeria and Angola, the problems of lack of accurate and sufficient data over a longer time period persist, as they do in most African countries. The main findings are that significant domestic influences of FDI inflows in Angola include: lower public power to entice private gain; better policies that are effectively enforced to improve civil and public services; and the proven oil reserves. This entails that government policy, transparency and their oil reserves are held in high regard by the foreign investors in Angola. In Nigeria, however, domestic influences of FDI inflows include: better citizen ability to select a government; freedom of expression; freedom of association and a free media; better ability of the government to formulate and implement sound policies and regulations that permit and promote private sector development; and oil production. This indicates that democracy, government policy and oil production are highly regarded by foreign investors who invest in Nigeria. Therefore, it can be argued that, even though results for factors influencing FDI inflows differ, there are similarities as government policy and the oil sector in general influence both countries even though the issues in both countries are not necessarily the same. However, on a global level, investment in the two countries is driven by completely different factors. According to the models, Angolan FDI inflows are driven by global oil production (supply) in the previous year whereas FDI inflows in Nigeria are correlated to the oil price in the previous year. Both of these models, however, leave much to be desired as they have low R2 values which indicate that they explain very little of what influences FDI inflows in the countries. / MCom (International Trade), North-West University, Potchefstroom Campus, 2014

Foreign Direct Investment, in spite of several challenges, is hailed as one of the vehicles for economic development, especially in developing countries. In the tourism industry, FDI brings much needed capital, technology, marketing skills and operations systems that would otherwise not be available in the host country. Both developed and developing countries are always competing to attract FDI to their countries. The primary goal of this study was therefore to investigate factors that investors consider when undertaking FDI into the tourist accommodation sector in Malawi. Malawi remains one of the few countries in Africa which has not attracted meaningful FDI into its tourist accommodation sector. The objective of the study is fourfold; to analyse foreign direct investment, to identify country and industry level factors that influence tourism FDI, to analyse Malawi's general investment climate and to make recommendations to government and industry on attracting FDI. The study conducted a literature study on general FDI and tourism-specific FDI and the Malawi investment climate. An empirical study was carried out, through a quantitative research method. The sample was derived using a probability sampling method and was extracted from a national tourist accommodation database. The research found that there is a strong relationship between the source country of tourist accommodation FDI in Malawi and tourist source countries. It also found that economic factors, perception and infrastructure, government policy, competitiveness and nature are important considerations when investing in the Malawi tourist accommodation sector, in that order. Industry level factors that respondents found important are protection of investment, availability of fresh water, labour disturbances I unrest and tourist receipts. Whilst the Malawi government uses investment incentives as a key to FDI attraction, researchers found that incentives are not ranked as important to prospective investors. / MCom (Tourism Management), North-West University, Potchefstroom Campus, 2012

The relative political stability in Uganda resulted In increased Foreign Direct Investment (FDI) and growth in several national/multi-national organisations. Furthermore, business leadership in Uganda has experienced change as the older generation hand over the reins to the younger generation of business leaders who are relatively more exposed to the Mrican management philosophy and leadership models which are congruent with African culture and contextual issues. This study investigated within a Ugandan context, leadership attributes that are perceived as contributors to or inhibitors of outstanding leadership. It then determine whether, when analysed by ethnicity (i.e. Bantu speaking versus non-Bantu speaking), the researcher could identify meaningful differences in the culturally endorsed leadership profiles; and link societal cultural attlibutes to preferred leadership attributes. A triangulation method was used to conduct this cross-cultural research, which combined archival data, a quantitative survey and personal interviews. The sample comprised of 163 junior, middle and senior managers from over 15 organisations within Uganda. An adapted version of Project GLOBE questionnaire was used for the quantitative survey, and results showed that out of the nine societal cultural dimensions, only Power Distance and Institutional Collectivism cultural dimensions indicate significant differences between Bantu speaking as compared to non-Bantu speaking managers. Furthermore, out of the six leadership dimensions only Humane Orientation and Charismatic / Value Based leadership dimensions, indicated significant differences between the above mentioned. However, these results contrasted some avers of the personal interviews. The study concludes that societal cultural differences do exist between the Bantu speaking and non-Bantu speaking managers and this may require some marginal differences In the leadership attributes that a leader portrays. Nevertheless, irrespective of ethnicity, the most preferred leaders' attributes in Uganda are Decisiveness, Performance Oriented and Charisma 2: Inspirational; whilst the least preferred leaders' attributes were Face-Saver, Self Centred and Malevolent. / Graduate School of Business Leadership / D. Econ. (Business Leadership)

Thesis (MA)--Stellenbosch University, 2012. / ENGLISH ABSTRACT: Since 2000, Chinese FDI in Zambia has steadily increased. Focused predominantly on resource extraction, China is now the third largest investor in Zambia, after only the United States and South Africa. As the title suggests, this FDI is recognized as relevant to Zambia’s developmental discourse. However, with general development indicators, there is challenge in establishing immediate causality between (Chinese) FDI and development. To address this, this study employs Capability Approach development theory, which utilizes a framework to evaluate social and political realities. Utilizing this framework, key indicators are used to look more deeply into the discussion around China’s FDI for Zambia’s development. There has been a great deal of speculation as to potential costs and/or benefits Chinese FDI may offer Zambia. As China offers Zambia a partnership of non-domestic interference, unique from Zambia’s traditional western syndicates, debate is raised as to what influence it will have on Zambia’s developmental progress. With challenges including limited information, numerous potential indicators to utilize, and a large number of contributing voices, the debate thus far lacks a means for evaluating the substance of claims made within the context of national trends. This study reviews and evaluates the debate within the framework of seven key socioeconomic and political indicators. While within economic growth and infrastructure expansion Chinese FDI are shown to indicate a conduciveness to development, FDI is not shown to be conducive for market diversification, challenging corruption, or strengthening institutions. The study therefore shows that trends of Chinese FDI’s relevance to Zambian employment and state dependency to be mixed and that assessments will need to disentangle various Chinese activities and will also need to consider contradictory effects. / AFRIKAANSE OPSOMMING: Sedert die jaar 2000 het Chinese direkte buitelandse belegging (DBB) in Zambië stelselmatig begin toeneem. Die groei is hoofsaaklik gekonsentreer in die hulpbron ontgunnings sektore. China is tans die derde grootste belegger in Zambia naas die Verenigde State van Amerika en Suid Afrika. Soos die titel van die tesis aandui, word DBB beskou as relevant tot Zambië se ontwikkelings dialoog. Aangesien die oorsaaklikheid tussen DBB en ontwikkeling nie maklik vasgestel kan word nie, word sleutel aanwysers gebruik om dieper in die gesprek rondom Chinese DBB ten opsigte van Zambiese ontwikkeling in te kyk. Tans is daar 'n groot mate van spekulasie aan potensiële risikos en/of voordele van Chinese DBB vir Zambië. China bied Zambië ‘n venootskap sonder inmenging in binnelandse beleid, anders as Westerse finansiering wat gekoppel word aan voorwaardes, en dit is wat die vraag lig; wat gaan die uiteindelikke invloed en effek wees op Zambiese ontwikkeling in die toekoms. Met uitdagings soos beperkte inligting, vele moontlikke aanwysers en ‘n groot aantal opinies, kort die debad tot dusver die vermoë om die waarde van argumente te evalueer binne die konteks van nasionale tendense. Hierdie studie evalueer die debat binne die raamwerk van sewe sleutel sosio-ekonomiese en politiese aanwysers. Chinese DBB word bevind om bevorderlik te wees ten opsigte van ontwikkeling in die infrastruktuur ontwikkeling- en ekonomiese groei sektore; dit word egter nie bevind as bevorderlik in terme van mark-diversifikasie, die teenkanting van korrupsie, of in die versterking van politieke instellings nie. Chinese DBB se invloed op indiensneming en op die afhanklikheid van die Zambiese staat toon gemengde resultate, en dat assesering verskeie Chinese aktiwiteite sal moet ontrafel en ook teenstrydigge effekte in gedagte moet hou.