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

Diploma thesis "Comparison of systems and impacts of investment incentives in Czech Republic, Slovak Republic and Ireland" compares investment incentives in Czech Republic, Slovak Republic and Ireland in terms of their development and current situation. Furthermore it compares conditions under which investment incentives can be granted. It also compares their impact on foreign direct investments in terms of their inflow, structure and regional distribution in the country. Part of the thesis also deals with comparison of current situation in these countries in terms of investor's risk and international competitiveness when gaining investments.

The main objective of the diploma thesis is to provide a comprehensive analysis of the current investment climate in the United Kingdom and France, and to draw their comparison. It includes an analysis of significant political, economic, social, technological and legal factors, as well as assessment of available investment incentives. The thesis also contains an evaluation of FDI inflows to both countries. The thesis is consequently aimed at determining mutual competitive advantages of the United Kingdom and France.

This thesis comprises the analysis of the issue concerning industrial parks in the Czech Republic with a major focus on the Strategic industrial zone Holešov. There is a description of establishment and support of industrial zones in the Czech Republic in the introductory part, afterwards being followed by the specification of the strategic industrial zones. Further is mentioned the basic socioeconomic characterization of the Zlín district. The practical part is then devoted directly to the Strategic industrial zone Holešov -- to the reasons which led to its establishment, to the particular stages of its development and subsequently to the possible outcomes it may have when being fully or minimally occupied. Parts of this work are also the basic over viewing information about the direct foreign investments and the investment incentives.

The diploma thesis deals with the assessment of investment "Finalization of waterway of Vltava in section České Budějovice {--} Týn nad Vltavou" in the South Bohemia region. The aim of this work is the analysis of the impact of this investment on region from macroeconomic and microeconomic perspectives. The other aim of work is basic presentation of the investment, the progress of cost benefit analysis and identification of benefits, which will be brought by the investment to South Bohemia region.

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.

This master´s thesis „Proposal of utilization of the entrepreneurship support program in FEI Czech republic“ is focused on investment incentives and grants and their application on a particular investment project of chosen company. The first part of the thesis summarizes the relevant theory and describes offered entrepreneurship support programs in the Czech Republic. The second part is aimed at introduction of FEI Czech republic Ltd. For this company is in the third part of the work, chosen the suitable entrepreneurship support program, made a business plan and filled in an application for support.

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.

La transition énergétique, en partie caractérisée par le déploiement massif des énergies renouvelables, a relancé un débat de longue date sur les architectures de marché fournissant les meilleures incitations aux investissements dans les marchés libéralisés de l’électricité. Ces incitations sont essentielles pour garantir la sécurité d’approvisionnement à long terme. Pour choisir l’architecture de marché adéquate, les décideurs publics doivent évaluer et comparer les performances économiques des solutions disponibles. La présente thèse complète la littérature sur les incitations aux investissements et la sécurité d’approvisionnement en étudiant trois aspects importants : (i) le comportement des marchés de l'électricité en présence d’acteurs averses au risque, (ii) la compatibilité entre les incitations des acteurs à mettre leurs actifs sous cocon et les objectifs de sécurité d’approvisionnement et (iii) les performances économiques de différentes architectures de marché dans un contexte de forte pénétration des énergies renouvelables. Pour ce faire, une modélisation de type System Dynamics est utilisée pour représenter les dynamiques de long terme résultant des décisions des acteurs dans un marché libéralisé. La thèse est organisée en trois chapitres correspondant à chacun des points mentionnés ci-dessus. Les principaux résultats sont les suivants : Premièrement, les mécanismes de capacité sont nécessaires pour faire face aux effets néfastes de l’aversion au risque des investisseurs. Ce phénomène affecte de manière significative les marchés de l’énergie de type energy-only, qui subissent alors une baisse des investissements et des pénuries plus importantes. Les marchés de capacité résistent mieux à l’aversion au risque des investisseurs. Cependant, cette résilience dépend du plafond des prix dans les enchères de capacité. Pour qu'une telle architecture de marché donne des résultats satisfaisants en termes de sécurité d’approvisionnement, ce plafond de prix doit tenir compte du risque d'investissement supporté par les acteurs. Deuxièmement, si les acteurs du marché en ont la possibilité, leurs décisions de mettre leurs actifs sous cocon peuvent modifier les dynamiques d'investissement et de fermeture à long terme. En outre, dans un monde caractérisé par des actifs indivisibles, cette possibilité augmente le niveau de coordination nécessaire pour assurer la sécurité d’approvisionnement. Cela est particulièrement vrai pour les marchés de type energy-only, dans lesquels la mise sous cocon augmente le niveau des pénuries, au point de contrebalancer les économies de coûts qu’elle génère. En revanche, les marchés de capacité peuvent fournir la coordination nécessaire pour assurer la sécurité d’approvisionnement même lorsque les acteurs ont la possibilité de mettre leurs actifs sous cocon. Troisièmement, parmi les architectures de marché proposées dans la littérature, les marchés de capacité apparaissent comme la meilleure solution du point de vue du surplus social. Néanmoins, du point de vue des investisseurs, et dans certaines conditions liées à une forte pénétration des énergies renouvelables, les marchés de capacité avec des contrats annuels ne suppriment pas entièrement le problème dit de "missing money". Les résultats indiquent que l'attribution de contrats de capacité pluriannuels atténue le problème. / The ongoing energy transition, partly characterized by the massive deployment of renewables, has reignited a long-lasting debate on the best market design options to provide adequate investment incentives and ensure capacity adequacy in liberalised electricity markets. To choose the appropriate market design, policymakers need to assess and compare the economic performances of available solutions in terms of effectiveness and cost-efficiency. This dissertation complements the existing literature on market design for long-term capacity adequacy by focusing on three research topics: (i) understanding how electricity markets perform under different assumptions regarding investors’ risk preferences, (ii) analysing the compatibility of private agents’ incentives to mothball capacity resources with security of supply objectives and (iii) assessing the economic performance of different market designs in a context of a high penetration of renewables. To this end, the System Dynamics modelling framework is applied to represent long-term dynamics resulting from private agents’ decisions in liberalised electricity markets. The dissertation is organised in three chapters corresponding to each of the topics mentioned above. The main results are outlined below. Firstly, capacity remuneration mechanisms are necessary to deal with the detrimental effects of investors’ risk aversion. Energy-only markets are significantly affected by this phenomenon as they experience reduced investment incentives and higher levels of shortages. Capacity markets are more resilient to private investors’ risk aversion. However, this resilience depends on the level of the price cap in the capacity auctions. For such a market design to provide satisfactory outcomes in terms of capacity adequacy, this price cap should account for the investment risk faced by market participants. Secondly, when market participants have the possibility to mothball their capacity resources, these mothballing decisions can potentially modify investment and shutdown dynamics in the long run. Furthermore, in a world with capacity lumpiness (i.e. indivisibilities), mothballing increases the level of coordination needed to ensure capacity adequacy. This is especially true in energy-only markets, where mothballing increases the level of shortages to an extent that seems to overweigh the cost savings it generates at system level. Capacity markets can provide the required coordination to ensure capacity adequacy in a world with mothballing. Thirdly, among proposed market designs in the literature, capacity markets appear as the preferable solution to ensure capacity adequacy from a social welfare point of view. Nevertheless, from a private investor’s perspective and under certain conditions related to high penetration of renewables, capacity markets with annual contracts do not entirely remove the so-called “missing money” problem. The results indicate that granting multiannual capacity contracts alleviates the problem.

Innovation incentives are imperfectly provided in market settings: When deciding on their innovation activity, firms tend to focus on the maximization of their private benefits, poorly internalizing social benefits. This thesis analyzes how policy intervention could be designed in order to align private and social incentives. <p><p>In the three papers of this thesis, I will consider three environments where firms' choices in a laissez-faire situation may be socially inefficient. The inefficiencies arise because of learning externalities, free riding when the innovation decision is made by a group of participants, or because firms are not willing to invest in a new activity that has a higher social than private value.<p><p>In the first thesis paper, I deal with the strategies of firms in innovative consumer product markets characterized by demand uncertainty. I analyze the timing and location decision of firms in that context.<p><p>In the second thesis paper, I consider the investment incentives of financial market infrastructures (FMIs). FMIs comprise the set of institutions that allow financial market participants to engage with each other. I assess the innovation incentives for different forms of ownership (user-owned versus third-party owned) and identify infrastructure service provision equilibria. <p><p>In the third thesis paper, I address the question of how a government should allocate a subsidy budget over time in order to maximize the innovation activity in an industry. / Doctorat en Sciences économiques et de gestion / info:eu-repo/semantics/nonPublished