ثبات سازمانی و سرمایه گذاری مستقیم خارجی (FDI)
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ثبات سازمانی و سرمایه گذاری مستقیم خارجی (FDI)

عنوان فارسی مقاله: سرمایه گذاری مستقیم خارجی (FDI) و ثبات سازمانی
عنوان انگلیسی مقاله: Foreign direct investment and institutional stability: who drives whom?
مجله/کنفرانس: مجله اقتصاد، دارایی و علوم اداری - Journal of Economics, Finance and Administrative Science
رشته های تحصیلی مرتبط: اقتصاد
گرایش های تحصیلی مرتبط: اقتصاد مالی، اقتصاد پولی، توسعه اقتصادی و برنامه ریزی
کلمات کلیدی فارسی: سرمایه گذاری مستقیم خارجی، سرمایه گذاری مستقیم خارجی، ARDL، رشد اقتصادی، ثبات سازمانی
کلمات کلیدی انگلیسی: FDI، Foreign direct investment، ARDL، Economic growth، Institutional stability
نوع نگارش مقاله: مقاله پژوهشی (Research Article)
نمایه: Scopus - DOAJ
شناسه دیجیتال (DOI): https://doi.org/10.1108/JEFAS-05-2018-0048
دانشگاه: International Centre for Education in Islamic Finance, Kuala Lumpur, Malaysia
ناشر: امرالد - Emeraldinsight
نوع ارائه مقاله: ژورنال
نوع مقاله: ISI
سال انتشار مقاله: 2019
ایمپکت فاکتور: 2/125 در سال 2018
شاخص H_index: 8 در سال 2019
شاخص SJR: 0/403 در سال 2018
شناسه ISSN: 2218-0648
شاخص Quartile (چارک): Q2 در سال 2018
فرمت مقاله انگلیسی: PDF
تعداد صفحات مقاله انگلیسی: 13
وضعیت ترجمه: ترجمه نشده است
قیمت مقاله انگلیسی: رایگان
آیا این مقاله بیس است: خیر
آیا این مقاله مدل مفهومی دارد: ندارد
آیا این مقاله پرسشنامه دارد: ندارد
آیا این مقاله متغیر دارد: دارد
کد محصول: E12881
رفرنس: دارای رفرنس در داخل متن و انتهای مقاله
فهرست انگلیسی مطالب

Abstract


1- Introduction


2- Literature review


3- Data and methodology


4- Findings and interpretations


5- Conclusion


References

نمونه متن انگلیسی مقاله

Abstract


Purpose - The purpose of this paper is to examine the relationship between foreign direct investment (FDI) flows and institutional stability. The focus country is Canada. It is one of the few countries where the economy remained relatively stable compared to other economies during the Global Financial Crisis. It is crucial for Canada to determine the optimal level of institutional development to attract more FDI and sustain the sound financial stability in future.


Design/methodology/approach - This study uses the auto-regressive distributive lag (ARDL) approach to understand the relationship between FDI and institutional stability along with other controlled variables, for instance, gross national product, inflation and exports.


Findings - The key finding of this work is that FDI and institutional stability are cointegrated in the long run. The error correction model of ARDL shed light on institutional stability being an exogenous variable, and FDI is an endogenous variable. Institutional stability affects FDI, as it is exogenous. The findings will help policymakers to implement policies to strengthen the institution’s settings, and this, in turn, will attract more investment.


Originality/value - Based on previous theoretical and empirical literature, most of the research points to FDI positively affect institutional stability. In some cases, the relationship does not always hold true. This study will fix the gap in the literature by investigating the relationship between FDI and institutional stability of Canada.


Introduction


Foreign direct investment (FDI) inflows were $1.45tn in 2013 and are expected to rise about 5 per cent in 2017 to almost $1.85bn (United Nations Conference on Trade and Development [UNCTAD], 2017). The top host countries for FDI inflows as of 2016 include the USA, Ireland, Hong Kong, China and Singapore. Also, North America is the top region of FDI outflow. To further add, from the period of 2000 to 2012, about 55 countries adopted 1,082 institutional policy changes, with the goal of creating a more favourable environment for foreign investors (Demir, 2016). Prior studies indicate that proper institutions encourage private investments, improve the efficiency of the economic system and encourage economic growth (Acemoglu et al., 2005; Ahmad and Ahmed, 2014; Hall and Jones, 1999; Rodrik et al., 2004). Institutions play a crucial role in disciplining the behaviour of economic agents, thus encouraging setting rules and limit opportunism and build transactional trust in financial transactions, and ultimately enhance the confidence of foreign investor and FDI inflows (Ahmad and Ahmed, 2014). In a study by Makki and Somwaru (2004), the results pointed to FDI and exports positively impacting economic growth. The study looked at 66 developing countries from 1970 to 2000. Wang and Meng (2004) found that it is more critical to higher-income countries, whereas international trade is more critical for lower-income countries (Tekin, 2012). On the other hand, other studies were not able to find a direct link between FDI and institutional development (Buchanan et al., 2012; Wheeler and Mody, 1992). In another study by Harms and Ursprung (2002), political and civil liberties were found to be factors that attracted FDI as opposed to institutional aspects (Ahmad and Ahmed, 2014). As such, it is inconclusive as to if institutional stability plays a fundamental role in encouraging FDI. Furthermore, there is theoretical literature that suggesting FDI can adversely impact economic growth. It is because the growth accelerating the effect of FDI is based on the assumption that this does not crowd out domestic investment (Tekin, 2012). There is also theoretical literature that supports the notion of institutional stability encouraging FDI. For instance, the Douglas North approach discusses how institutions play a crucial role in economic growth. Even from a theoretical perspective, it seems that the literature is inconclusive on the exact role that institutional stability plays, and how other factors react to it.

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