No description available.

No description available.

In the face of tightened loans from commercial banks, skyrocketing interest rates, reduced export demand, and weak domestic industries, the countries of the Andean Community (Ancom) turned their eyes, in the early 1990s, to the promise of FOI. Paradoxically, despite the success of the incentives put in place to attract FOI, Ancom failed to attract the sought after technology flows that would assist them in diversifying their exports, strengthening their industry, and retaining a higher portion of the value-added activities in the production chain. FOI was mainly directed to economic sectors entailing enclave-type activities with weak linkages to the rest of the economy as well as often low levels of local processing of resources, unstable international prices, low tax income for non-renewable resources, and environmental contamination. The aim of this thesis is to investigate, first, what are the historical sector-level FOI patterns of inward FOI in Ancom; and second, what are their determinants. In particular, we explore the role that local political and civil institutions play in determining inward FOI, and whether this role varies from one sector to another. We present a newly compiled dataset of inward FDI stocks, disaggregated by eight welldefined economic sectors within each country. The contributions of this dataset are, first, unprecedented time coverage, extending for an entire extra decade, the 1980s, for the countries of Colombia and Peru, for every disaggregated economic sector; second, the presentation of previously unpublished FDI stock data for the Colombian oil and petroleum sector; and third, the reorganisation of the existing individual country datasets into a comprehensive regional dataset. The outcome is the creation of the strongest available statistical foundation, based on published as well as unpublished figures from official sources. From an econometric perspective our analysis uses techniques that allow exploring nonstationary processes such as the analysis of stochastic and time trends, cointegration, and vector-error-correction models. Key findings include the importance of the quality of the institutional quality of a country in determining the industrial structure of inward FOI. Furthermore, we find that institutions are multidimensional and, as such, changes in the quality of different institutions often play conflicting roles in determining sector-level FDI. In the sectors of: Mining, Utilities, and Communications and Transport, FDI is associated with low levels of political rights, and high levels of civil liberties, whilst, the opposite holds for FOI in Agriculture, Manufacturing , Construction, Finance and Oil/Petroleum. Market size and trade openness are found to be important determinant in most sectors, whilst wages are either insignificant or inversely related to FOI. We also examine, from a historical perspective, the political economy surrounding changes in FOI policy as well as the evolving FDI trends, made available by the new dataset. We find, on the one hand, that the degree of political sensitivity to liberalisation, at sector-level, determines the availability and contract-modality of opportunities for foreign investors. On the other hand, geographical characteristics of each sector determine the type of political environment that is most conducive to increases in FDI. For this purpose we propose an extension of the definition of key geographical characteristics. We present an original framework, matching the two dimensions of sector-level characteristics to FDI contractmodality and political-conducive environment to increased FDI.

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Traditionally, BITs have been faulted for their imbalanced approach in apportioning rights and obligations on investors and the host state. This imbalance created dissatisfaction in capital-importing states necessitating the need for a decisive break from the past. This development fueled the urge for reform and progressively, BITs and IIAs with a more balanced approach became a priority wish by many capital-importing states. As a result of this, BITs and IIAs concluded post 2000 have strived to incorporate a balance between rights and obligations of the host state and the investors. The devastating effects of corruption in governance cannot be overemphasized. The effects of corruption are inter-generational and the earlier the vice was dealt with, the better. Corruption has permeated investments by foreign investors making it a key concern for international investment law. The challenges of neutrality and difficulty in proving corruption have presented hurdles in tackling this problem and a nightmare in investment arbitration. The existence of corruption in investment and the extensive use of corruption as a defence in investor-state arbitration places corruption as a subject of direct address by international investment law. This research examines whether BITs signed by Kenya have been responsive in dealing with corruption. This case study is relevant in Kenya being a hot-bed of corruption and consequently experiencing the adverse effects of corruption in FDI attraction. The study therefore bears the burden of advocating for a BIT regime that incorporates direct provisions on anti-corruption in Kenya following the experience of other BITs and IIAs which harbor strong and progressive anti-corruption provisions. / Mini Dissertation (LLM)--University of Pretoria, 2021. / Centre for Human Rights / LLM / Unrestricted

Following economic reforms in 1978, the growth of Foreign Direct Investment (FDI) into China has been dramatic. The massive FDI inflows greatly benefited China's economy and contributed to its steady and rapid economic growth. Most FDI empirical studies use panel data as it solves the problem of data limitation, but it also produces 'average' effects for the results of the group of countries under study. Thus, individual countries in the group may generate different results when tested separately with the same model. This study uses an alternative approach that focuses on finding a Vector Error Correction Model with similar macroeconomic determinants of FDI for South Africa and for China. For both countries, larger market size and more advanced technology have a positive effect on FDI inflows, whereas higher labour cost affects FDI negatively. For the China model, infrastructure has a positive influence on its FDI inflows, whereas for the South African model worker strikes have a significant negative impact on FDI. Furthermore, we find remarkable similarities regarding the sectoral composition of FDI inflows in both countries, which further highlights the potential lessons that South Africa could learn from China regarding their highly successful FDI experience.

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This dissertation presents an integrated-empirical analysis of the relationship between Foreign Direct Investment (FDI) and the entrepreneurial activity in Mexico. The bulk of the literature has focused its attention on measuring FDI's effects on economic growth across countries using secondary data at the macro level, but it has neglected the analysis for Latin American countries, particularly; it has neglected the analysis of FDI's effects on the entrepreneurial activity; and the factors that foster or hinder the entrepreneurial activity in an open-market system, at the institutional level.In this work I present evidence that supports the hypothesis that FDI is positive and significant correlated with economic growth but only when economic growth is presented as a linear function of FDI. I also present evidence that contest the hypothesis that FDI is positive correlated with the creation of new firms, particularly for a setting in which the host country's economic structure is heavily characterized by micro and small low-tech-firms, as it is the case in Mexico. However, I also present evidence that supports the findings of previous studies regarding external and internal factors affecting individuals who are willing to take risks and to become entrepreneurs across regions. This integrated approach is based on the use of different methodological tools that helped me to explore the factors affecting the entrepreneurial activity in Mexico, both at different economic sectors, and at different regional levels.I argue that each potential entrepreneur faces different environmental constraints and personal limitations (external and internal factors) when is about to start a new venture, such differences are subject to personal traits, and to the institutional context in which the future entrepreneur interacts. I found that there are similar institutional constraints across Mexican states affecting the rate of new firms' creation; I also found that individuals - entrepreneurs - across Mexican States differ in their willingness to take risks depending upon their geographic location. I will also discuss how these differences and similarities across Mexican States raise important implications for public policy toward the development of a new entrepreneurial class in the country.

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Pirmojoje darbo dalyje suformuota TUI svarba ir vieta tarptautinėje prekyboje.Antroje dalyje analizuojama tiesioginių užsienio investicijų situacija bei vystymas Lietuvoje. Atskleidžiama tiesioginių užsienio investicijų (TUI) daroma įtaka ekonominiam augimui Lietuvoje bei nustatomos tendencijos ateityje. Atliekama tiesioginių užsienio investicijų statistinė analizė, aptariama tyrimo, atliekamo trečiojoje dalyje, metodologija. Trečioje dalyje sudaromi regresiniai modeliai, analizuojama tiesioginių užsienio investicijų (TUI) struktūros ir bendro vidaus produkto (BVP) augimo koreliacija. Remiantis slenkančio vidurkio, eksponentinio išlyginimo bei tiesinio trendo metodais, prognozuojamas tiesioginių užsienio investicijų (TUI) bei bendro vidaus produkto (BVP) dydis 2009 metams bei nustatomos pagrindinės didėjimo/mažėjimo tendencijos. Pateikiami atlikto tyrimo rezultatai, tikrinant tyrimo hipotezę, išvados bei pasiūlymai. / The object of the paper is foreign direct investment. The main purpose of the work: to find the best method for estimation of relationship between foreign direct investment and economic growth. The paper consists of three parts. In the first part main terms and attitudes of foreign direct investment are given. The basic principles of their structure, features are analysed. In the second part the relationship between foreign direct investment and economic growth is analyzed. The basic methodology of the analysis is given. In the third part, correlation regression models of foreign direct investment‘s structure by economic sectors and gross domestic product have been calculated. It can be maintained that foreign direct investment have a big impact on economic growth in Lithuania.