The aim of this Master thesis is to analyze investment environment of the Russian Federation by focusing on foreign direct investment in the selected countries of BRICS cluster. First chapter is dedicated to the theoretical definition of the investment climate, observation methods such as PESTEL and SWOT analysis, indexes of the multinational organisation (Global Competitivness Index, Ease of Doing Business a Index of Economic Freedom). This chapter also defines investment incentives and foreign direct investment together with typology of this two terms. Second chapter focuses on the Russian investment policy especially on legislative and administrative investment regulation. Last part of this chapter focuses on development of special economic zones, which parcipate in alocation of the foreign direct investment in Russia the most. At the end of this thesis there are strenghts and weaknesses of the russian investment environment together with opportunities and threats described.

The dissertation analyzes the impact of Foreign Direct Investment (FDI) on Economic Growth by extension and economic development of the regions of the Czech Republic (CZ) in 1998 -- 2011. Statistical data empirically study determined motivation of investors to locate in economically strong regions. Following the analysis of statistical data, available resources and a field survey, whose output includes three case studies of specific Foreign Investments in the Czech Republic, the analysis examines whether the arrival of a significant foreign direct investor in the region significantly influenced selected characteristics of economic performance, or other selected areas in region (social, environmental, transport etc.). Moreover, in the context of econometric analysis to test the tightness of the relationship between Foreign Direct Investment and Economic Growth using Pearson's coefficient and characteristics of variability. The causal effect of Foreign Direct Investment on Economic Growth (and vice versa) is analyzed using Granger causality test. The conclusion gives an assessment of the significance of Foreign Direct Investment in the regions of the Czech Republic together with the identification of significant effects brought by investments.

ESSAY 1We examine the effect of governance environment on the composition of a country's external capital structure, specifically foreign equity investment. In addition to the absolute quality of the host country's governance environment, we consider the host country's governance quality relative to that of the source (investor) country. Unlike previous studies, which utilize country totals, we examine foreign investment positions between pairs of individual countries. Our sample includes 3,891 bilateral investment positions among 49 source countries and 69 host countries for years 2009 through 2011. We find that relative governance, rather than absolute governance, plays a role in foreign investment. Specifically, a host country with lower governance quality relative to the source country (a greater difference) attracts less FDI as a share of foreign equity investment. Our results suggest that prior studies, which identified absolute governance as a significant factor, were evaluating an incomplete picture. When the focus is solely on the host country, the policy prescription appears rather straightforward--all countries should pursue higher governance quality to attract more foreign investment from all sources. We challenge this notion by showing that: a) different source countries evaluate host-country governance differently; and b) this evaluation is influenced by the difference between the governance environments of the two countries. ESSAY 2Highly publicized governance failures in recent years have renewed research efforts to investigate the consequences of specific governance mechanisms. A better understanding of executive compensation contracts, specifically golden parachutes, is especially critical given their notorious status in the corporate governance debate. Instead of examining the explicit incentive role of golden parachutes (GPs) in influencing managerial behavior, we study their role as a tool for screening and recruiting reputable CEOs in a situation where recruitment would otherwise be difficult--severe financial distress that eventually leads to Chapter 11 bankruptcy. If GPs enable distressed firms to recruit reputable CEOs, there should be an observable link between the presence of GPs in employment contracts for newly hired CEOs and value-preserving firm outcomes. For our sample of firms, all of which filed for bankruptcy, this can be measured by the outcome of the bankruptcy proceedings, specifically the avoidance of liquidation. Thus, we hypothesize a negative relationship between the presence of GPs for newly hired CEOs and the probability of liquidation in bankruptcy. Consistent with this hypothesis, we find that firms led by newly hired CEOs with GPs are liquidated less often than other firms. This suggests that, regardless of their efficacy as corporate governance mechanisms, GPs can create value for shareholders.

Cette thèse s’interroge sur les déterminants des divergences de performances commerciales au sein de la zone euro à travers quatre études empiriques. La première revient sur l’impact des spécialisations sur les performances à l’exportation, à l’aide d’une étude dynamique des avantages comparatifs et d’une analyse à parts de marché constantes. La seconde introduit une mesure élargie de la compétitivité structurelle dans la modélisation des équations d’exportation traditionnelles à travers l’étude d’un indicateur composite de compétitivité. La troisième étudie le lien entre investissements directs à l’étranger et performances commerciales dans les pays de la zone euro par le biais de tests de causalité en panel hétérogène et d’équations de gravité. Enfin, la dernière partie de cette thèse revient sur les stratégies d’internationalisation de la production et leurs conséquences sur les performances commerciales des pays à travers l’étude du comportement des constructeurs automobiles européens. Les meilleures performances de l’Allemagne ne proviennent pas uniquement de sa compétitivité-coût. L’innovation accrue de ses produits, ses infrastructures, sa politique visant à diminuer les coûts pour ses entreprises via un accès privilégié au crédit et une politique fiscale avantageuse couplées à l’accroissement de la fragmentation de sa production expliquent sa « surperformance » sur le marché mondial. Au contraire, les entreprises françaises ont souffert de la hausse des coûts salariaux dans le pays mais également du manque d’innovation de leurs produits et de leurs stratégies de délocalisation totale de la production. / This thesis is composed of four empirical studies investigating the determinants of export performance discrepancies in the Euro area. The first study evaluates the impact of specialization on export performances relying on a dynamic study of the comparative advantages and a constant market share analysis. A second chapter introduces a new enlarged measure of competitiveness in the traditional export equations based on the study of a composite competitiveness indicator. The third chapter examines the relationship between foreign direct investment (FDI) and Euro area export performances using both causality tests in a heterogeneous panel and gravity equations. The final part of this thesis discusses the impact of internationalization of production’ strategies on country’s export performances focussing on an analysis of European car manufacturers’ behaviour. The strong German export performance does not only result from its cost competitiveness. The innovation of its products, its infrastructures, its policies aiming at reducing costs for its firms through access to credit and a favourable fiscal policy associated with the increasing fragmentation of its production explain its "over-performance" on the world market. On the contrary, rising labour costs, the lack of product innovation and a strategy of extensive production offshoring hurt the competitiveness of French firms.

L’objectif fondamental de cette thèse consistait, après avoir relevé la complexité du lien entre l’économie et l’environnement, à mettre en évidence d’une part, les différents travaux et analyses sur la théorie des havres de pollution ainsi que les théories concurrentes et d’autre part, à apporter une contribution empirique à cette théorie. Ainsi, en évaluant empiriquement l’attractivité de l’Amérique latine et de l’Europe pour les entreprises manufacturières espagnoles appartenant auxsecteurs réputés polluants, on s’est évertué à montrer que les déterminants de cet attrait vers ces deux régions ne suivent pas la même trajectoire. Pour ce faire, nous utilisons un modèle gravitaire développé au moyen de l’économétrie des données de panel. C’est autour de ces points centraux que se sont articulés les quatre chapitres de notre thèse. Nos résultats valident l’existence d’effets de havres de pollution en Amérique latine, renforçant ainsi les conclusions tirées par les défenseurs de cette théorie. Ainsi, les localisations des industries polluantes espagnoles dans cetterégion sont déterminées par la présence simultanée des économies d’agglomération, d’une main d’oeuvre qualifiée et un engagement environnemental faible conjugué à un climat institutionnel douteux caractérisé par une présence massive de l’Etat dans l’économie et une banalisation de la corruption. Il convient de préciser que cette présence espagnole semble moins concernée par les libertés politiques et civiles dans la région, par les niveaux d’imposition et par la taille du marché domestique. Concernant la présence espagnole dans les pays européens, ce sont plutôt lesstratégies horizontales qui paraissent dominer les politiques d’internationalisation des entreprises polluantes espagnoles. Ces dernières semblent prêter bien plus d’attention à des facteurs tels que la qualité de la main-d’oeuvre, la performance des infrastructures, les économies d’agglomération et l’accès au marché qu’à la sévérité de la politique environnementale locale. / We have plotted a complex link between Economy and Environment, consequently we could determined the main objective of this thesis which was on one hand to highlight various papers and studies about the theory of contamination havens and about others competitive theories, and on another hand, to propose an empirical contribution to these theories. Thus, by evaluating the attractiveness of Latin America and Europe for Spanish manufacturing corporations involved in sectors known as contaminated, we focused on the fact that the determinants of this attract to both regions don’t follow the same way. In order to fulfill this specific study, we have used a gravity model developed using econometric panel data. Indeed, we have built our four main chapters of the thesis around these major points. The results obtained can argue that effects of contamination havens effectively exist in Latin America, strengthening conclusions put out by the defenders of this theory. Moreover, the place where are located Spanish contaminating manufacturing in thisregion are determined by the existence of agglomeration economies, skilled labor market, a weak engagement in environment issues united to a high level of corruption governmental institutions.In consequence, we can add that the Spanish government in this zone feels less concerned by the quality of way of life and liberty of citizens than by levels of taxes and size of domestic market. Concerning the Spanish implementation of strategies in these Europeans countries, the most relevant are horizontal strategies which seem to dominate internationalization process in Spanish contaminating manufacturing. These ones seem to pay attention to the quality of skilled labor forces, strength of infrastructure, agglomeration economies and access to the market more than the control of environmental local policies.

The aim of this study is to analyse political-security risk in Uganda. It emanates from the research question: Does Uganda pose a political-security risk to prospective foreign investment or involvement? The need to move beyond a political risk analysis without entering into a country risk analysis, poses the research problem to develop a political-security risk analysis framework and to apply it to Uganda. This problem generates three subsidiary questions: How appropriate (or inappropriate) are existing risk analysis frameworks? Do existing frameworks contain generic elements that can provide a basis for a synthesised framework? To what extent is a country specific framework applicable to other countries? Therefore, three sub-problems are addressed, namely to determine the appropriateness of selected frameworks; to identify generic elements to construct a synthesised framework; and to assess the applicability of this framework for the analysis of political-security risk in other African countries. Following a definition of the concepts risk, country risk, political risk and political-security risk (analysis), selected frameworks for risk analysis were analysed. The generic elements of these frameworks, namely The Economist (EIU), Business Environment Risk Intelligence (BERI), International Country Risk Guide (ICRG) and Political Risk Services (PRS) frameworks, were reduced to three categories and synthesised into a single framework which was applied to Uganda. The categories of risk indicators pertained to security, political and socio-economic risks respectively. These indicators and the allocated risk scores were used to construct a political-security risk index in respect of which the summed scores provided an index figure of risk that was interpreted in accordance with an interpretation scale. In respect of Uganda, its more recent political history was described and the political, security and socio-economic circumstances prevailing in the country analysed. These conditions were assessed and measured against the indicated risk factors and according to the risk index. The summed political-security risk index score for Uganda was 55.5 out of a maximum of 100. In accordance with the interpretation scale, this constitutes an intermediate risk. Based on this Uganda is not, at present, the most suitable destination for foreign investment or involvement. This does not disallow investment or involvement but if indeed the case, it should be done with circumspection. The situation is volatile to the extent that it can rapidly change for the better or the worse, depending on trends concerning the risk categories, or more specifically a turn of events in respect of a particular key risk indicator. Since the synthesised risk analysis framework is able to accommodate key variables pertaining to politics and security in African states, and since it has provided an indication of risk in respect of Uganda, it is suggested for application to other African states. The need for modification, based on the particularities of other countries, is not excluded. It is also proposed that similar exercises be conducted at intervals of six months. This will indicate whether the variables used were, in fact, valid and reliable, and whether additional variables should be included. The repetition of the analysis also indicates risk trends and allows for the monitoring of risks, which will be conducive to risk management. / Dissertation (MSS (Political Sciences))--University of Pretoria, 2003. / Political Sciences / unrestricted

Since the 2000s, India has emerged as one of the top recipients of foreign direct investment (FDI) amongst the emerging markets. Yet, the international business (IB) literature on FDI flows into India is still nascent. Recent developments have not been adequately covered and a coherent theoretical framework guiding a contextualized discussion is rarely utilized. This three paper dissertation seeks to explore the idiosyncrasies of post-millennial India and how they connect to the current motivation of foreign multinational enterprises (MNEs) to invest into the Indian market. While the research is theory-driven, the empirical findings provide a new perspective to the IB debate by helping to better understand the sensitivity of FDI decisions to various phenomena in India’s economic, institutional and social fabric in the 2000s. Both the recent diversification within knowledge-intensive industries and the various pro-market reforms that are increasingly bearing fruits have created new opportunities for foreign MNEs – especially for those targeting India’s tertiary sector and its large specialized talent base.

Thesis (M.Com. (Economics)) -- University of Limpopo, 2020 / The remarkable increase in FDI flows to developing countries over the last decade has focused attention on whether this source of financing enhances overall development and growth in the economy. To attain foreign direct investment and sustainable economic growth of a country, balanced budget is not only important but necessary. The aim of the study was to examine the nexus between foreign direct investment (FDI) inflows and budget deficit in a panel of five Southern African Development Community (SADC) countries (Malawi, South Africa, Tanzania, Namibia, and Zambia). The study employed the Panel Auto Regressive Distributed Lag (PARDL) model in examining the relationship between budget deficit and FDI. The panel unit root tests results showed different orders of integration (at levels and first-order) giving way to the use of PARDL. Co-integration test results confirmed a long-run relationship in the budget deficit FDI series. In the long run, there is a significant negative relationship between budget deficit and FDI. The speed of adjustment is 36%, implying that the system would converge faster to equilibrium. Furthermore, Granger causality test results indicated a bi-directional causal link on the interest rate – inflation and interest rate – FDI models. However, there is a unidirectional causality running from budget deficit to FDI; interest rate to the budget deficit and FDI to inflation. It is recommended that government should attract more foreign direct investment so as to minimise budget deficit and this could speed up the development of SADC countries. Key Terms: Foreign direct investment, budget deficit, Autoregressive-Distributed Lag, panel data, Granger causality.

The master thesis focuses at analysis and research of synergy and self-organization in economics. The motivation for the thesis was joining Czech Republic and other nine countries to the European Union on May 1st, 2004. The primary aim was to analyse the problem and on a model example,assuming "ceteris paribus", confirm or refute the thought, that joining the European Union has positive synergic effect for newcomers. The second meaning of synergy is solved as a sub-problem in the master thesis, where the use of synergy in logistics was analysed and opportunities improving the current situation were suggested.

This master´s thesis “The Localization of Foreign Direct Investment in the region of Middle Europe“ is focused on localization of foreign direct investment in the region of Middle Europe and possiblities of making easier localization decision. The first part of the thesis summarizes teoretical knowledge of foreign direct investment, their difinitions, typology and effects on economy. The second part is focused on the analysis of localization factors of strategic services sector. On the analysis basis, in the final part is created the model, which can be used for easier localization decision making between economies of Middle Europe. Afterwards the localization of a foreign direct investment is projected and analysed.