Three Essays On Direct Foreign Investment And Host Country Policies

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Three Essays On Direct Foreign Investment And Host Country Policies

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Author : Kim Song Tan
language : en
Publisher:
Release Date : 1991

Three Essays On Direct Foreign Investment And Host Country Policies written by Kim Song Tan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1991 with categories.

Three Essays On Foreign Investment

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Author : Krishna Srinivasan
language : en
Publisher:
Release Date : 1993

Three Essays On Foreign Investment written by Krishna Srinivasan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with categories.

Three Essays On International Trade And Multinational Firms

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Author : Nathaniel P. S. Cook
language : en
Publisher:
Release Date : 2007

Three Essays On International Trade And Multinational Firms written by Nathaniel P. S. Cook and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Commercial treaties categories.

Three Essays On The Relationship Between Policy Uncertainty And Foreign Direct Investment

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Author : Chikezie Kenneth Okoli
language : en
Publisher:
Release Date : 2021

Three Essays On The Relationship Between Policy Uncertainty And Foreign Direct Investment written by Chikezie Kenneth Okoli and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with International economic relations categories.

Foreign direct investment (FDI) occurs when an entity in one country establishes a significant degree of ownership in an enterprise in another country. FDI is a critical component in ensuring the development of any economy. It often aids with the development of an industry or sector within an economy by bringing in capital, new technologies, manufacturing methodologies, and managing expertise to the receiving country. This dissertation examines the relationship between policy uncertainty and foreign direct investment (FDI) in developed economies. The first essay focuses on U.S. policy uncertainty and its effects on U.S. FDI inflows, while the second essay focuses on the cross-border effect of U.S. policy uncertainty on its neighbours FDI inflows. The third essay focuses on how policy uncertainty affects the investment entry mode choices of multinational enterprises. In the first essay, I add to the discussion surrounding Foreign Direct Investment (FDI) and its relationship with policy uncertainty by employing novel measures of policy uncertainty in the United States. Drawing some conclusions from the Real Options investment theory, I examine the relationship between policy uncertainty and FDI inflows using different measures of policy uncertainty. Overall, I find that an increase in the Partisan Conflict (PC) index increases the flow of FDI into the United States. This finding appears at odds with what has previously been found in the literature regarding political uncertainty and FDI. Using other measures of policy uncertainty such as the Economic Policy Uncertainty index (EPU) and the categorical EPU (CPU) index the estimated results show policy uncertainty as measured by the EPU index, decreases FDI into manufacturing sectors and decreases FDI into non-manufacturing sectors. This effect varies depending on the sample period being examined. However, when policy uncertainty is measured by the CPU index, policy uncertainty has no impact on FDI inflows to the United States regardless of the type of industry or capital intensity. The second essay examines how U.S. policy uncertainty spillovers affect its neighbours within the context of FDI inflows. Adopting a common framework employed in the literature, I utilize a Vector Autoregressive (VAR) model to examine the contemporaneous relationships between the endogenous and exogenous variables. The two spillover transmission methods examined in this paper are Direct Transmission and Indirect Transmission. The empirical analysis conducted showed that the significance of U.S. policy uncertainty spillovers varied by country and the method of transmission. Canadian FDI inflows from the United States and from the rest of the world were shown to be more susceptible to the negative effects of U.S. policy uncertainty spillovers via the direct channel. But the results remained mixed when considering the indirect channel. For Mexico, the results showed that only U.S. FDI inflows to Mexico were susceptible to the negative effects of U.S. policy uncertainty via the indirect channel. Furthermore, when policy uncertainty spillovers were defined between Partisan Conflict (PC) index and the Economic Policy Uncertainty (EPU) index, the results showed that only EPU spillovers were significant in affecting FDI across Canada and Mexico. The third essay examines the mode of entry that Japanese multinational enterprises (MNEs) adopt in the presence of host market policy uncertainty. Employing a two-stage framework, I examine how Japanese MNEs establish foreign affiliates in 25 countries. In the first stage, the firms decide whether to adopt a direct or an indirect mode of entry in the presence of host market policy uncertainty. A direct entry mode is when the MNE has an ownership share in the affiliate that is greater than 10% while an indirect entry mode is when the MNE has no ownership shares in the affiliate but sets the operational and business goals of the affiliate. The results show that Japanese MNEs preferred an indirect mode of entry when faced with medium levels of policy uncertainty. In the second stage the estimated results show that relatively high levels of policy uncertainty caused Japanese MNEs to prefer minority Joint Ventures over establishing Wholly Owned Subsidiaries. Since 58% of observed investments occur in two countries (China, the United States) it is possible that the results of the analysis are being driven by the concentration of investments in both countries. Therefore, I re-examine the model to focus exclusively on investment activities in China and the United States. These results show that the previously described results were due to the investment activity in these two countries.

Three Essays On Public Economics In Developing Countries

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Author : Chigozie Andy Ngwaba
language : en
Publisher:
Release Date : 2018

Three Essays On Public Economics In Developing Countries written by Chigozie Andy Ngwaba and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with Economics categories.

This dissertation contains three essays that examine aspects of public economics and taxation in developing economies. Although each essay examines different questions, they are linked by findings and implications related to policy implementation that is crucial in developing countries. The first paper examines tax reform and entrepreneurship in South Africa. The second paper evaluates corporate tax policy and foreign direct investments in developing countries. The third paper asseses microfinance policy and financial inclusion in Nigeria. Chapter 1 focuses the effects of tax reform on entrepreneurship in South Africa using repeated cross-sectional data from the World Bank. The paper adopts a difference-in-difference estimation technique as well as contrasting periods before and after the tax reform. This contrast is achieved by examining individuals in the formal and informal sector and measuring the effectiveness of the reform on self-employment. The results from the analysis indicate that the tax reform had a positive and significant effect on the probability of becoming self-employed in South Africa and is robust across different econometric specifications. Chapter 2 estimates the impact of corporate taxes on direct foreign investments in developing countries. The paper adds to existing literature using new corporate tax data from 1990-2015 created for the study that includes 65 developing countries. Results from the study indicates that direct foreign investment is not sensitive to corporate taxes in developing economies. This indicates that the flow of foreign investments to developing host nations may be largely driven by other factors. Chapter 3 examines the impact of the microfinance policy supervisory and regulatory framework of 2012 on financial inclusion in Nigeria. The paper contributes to existing literature by employing a national representative data and correcting the self-selection problem evidenced in previous studies. Using the microfinance policy as a natural experiment to test its impact on financial inclusion in Nigeria, the paper finds an increase in account and credit card ownership and no impact on debit card ownership and health insurance enrollment. These results have important implications for monetary and financial policy implementation by the Central Bank of Nigeria.

Essays On The Determinants Of Foreign Direct Investment And Its Impact On Home Countries

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Author : Jitao Tang
language : en
Publisher:
Release Date : 2013

Essays On The Determinants Of Foreign Direct Investment And Its Impact On Home Countries written by Jitao Tang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with International business enterprises categories.

Both policy makers and policy analysts are interested in the extent to which host country policies influences foreign direct investment (FDI). While much work has focused on the impact of government policies on aggregate FDI, little attention has been paid to the possibility that different types of FDI may respond differently to changes in policies. In this dissertation, I investigate whether local policies affect distinct types of FDI in different ways. In addition, I also study whether the FDI undertaken by multinational enterprises (MNEs) generates spillovers to their home countries. In the first chapter, I test the effect of environmental policies in host countries on horizontal, vertical and export-platform FDI. In a simple model I show how different types of FDI respond to a stricter environmental policy. Using U.S. outward FDI in 50 host countries and a survey measure of local environmental regulations, I find a significant deterrent effect of environmental regulations on horizontal and export-platform FDI. Furthermore, I find that in host countries with stricter environmental regulations than U.S. regulations, export-platform FDI exhibits a greater sensitivity to local environmental regulations than horizontal FDI. I extend the analysis in the first chapter to the effect of local corporate tax rates in the second chapter. The empirical evidence suggests that the effect of statutory corporate income tax rates is negative and significant on vertical and export-platform FDI but insignificant on horizontal FDI. The tax effect is found to have grown stronger over time. More importantly, I find that different types of FDI respond in distinct ways to variation in tax rates across "third" countries.

Three Essays On Foreign Direct Investment

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Author : Agim Kukeli
language : en
Publisher:
Release Date : 2004

Three Essays On Foreign Direct Investment written by Agim Kukeli and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Investments, Foreign categories.

Three Essays On Foreign Direct Investment And Bilateral Investment Treaties

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Author : Tatiana Vashchilko
language : en
Publisher:
Release Date : 2011

Three Essays On Foreign Direct Investment And Bilateral Investment Treaties written by Tatiana Vashchilko and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with categories.

Three Essays On Firms Foreign Direct Investment Decisions

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Author : Rossitza Bouneva Wooster
language : en
Publisher:
Release Date : 2002

Three Essays On Firms Foreign Direct Investment Decisions written by Rossitza Bouneva Wooster and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002 with Investments, Foreign categories.

Foreign Direct Investment In South Asia

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Author : Pravakar Sahoo
language : en
Publisher: Springer Science & Business Media
Release Date : 2013-10-01

Foreign Direct Investment In South Asia written by Pravakar Sahoo and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-10-01 with Business & Economics categories.

During the 1990s, the governments of South Asian countries acted as ‘facilitators’ to attract FDI. As a result, the inflow of FDI increased. However, to become an attractive FDI destination as China, Singapore, or Brazil, South Asia has to improve the local conditions of doing business. This book, based on research that blends theory, empirical evidence, and policy, asks and attempts to answer a few core questions relevant to FDI policy in South Asian countries: Which major reforms have succeeded? What are the factors that influence FDI inflows? What has been the impact of FDI on macroeconomic performance? Which policy priorities/reforms needed to boost FDI are pending? These questions and answers should interest policy makers, academics, and all those interested in FDI in the South Asian region and in India, Pakistan, Bangladesh, Sri Lanka and Pakistan.