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China's quest for energy through FDI: new empirical evidence

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  • Francisco Urdinez
  • Gilmar Masiero
  • Mario Ogasavara

Abstract

China's current economic development depends heavily on its access to energy resources, and it is increasingly shaping Chinese Outward Foreign Direct Investment (OFDI) in a quest for resources located abroad. The aim of this paper is to answer the two following questions: How much did the Chinese global quest for energy drive its OFDI between 2005 and 2012? And has the quest for energy been sensitive to the geographical location of the resources? We used data on Chinese OFDI from the China Global Investment Tracker, as well as diverse host countries determinants of previously tested OFDI. We measured the impact of host country energy production in the allocation of investments. Using several multivariate regression models, we demonstrate that energy resources were the main driver of Chinese OFDI in 92 host countries during the studied period, and that there was no sensitivity to the geographical location of the resources.

Suggested Citation

  • Francisco Urdinez & Gilmar Masiero & Mario Ogasavara, 2014. "China's quest for energy through FDI: new empirical evidence," Journal of Chinese Economic and Business Studies, Taylor & Francis Journals, vol. 12(4), pages 293-314, November.
    • Handle: RePEc:taf:jocebs:v:12:y:2014:i:4:p:293-314
    DOI: 10.1080/14765284.2014.952516
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    Cited by:

    1. Benye Shi & Tian Cai, 2020. "Has China’s Oil Investment in Belt and Road Initiative Countries Helped Its Oil Import?," Energies, MDPI, vol. 13(12), pages 1-13, June.
    2. Christian Dreger & Yun Schüler-Zhou & Margot Schüller, 2017. "Determinants of Chinese direct investments in the European Union," Applied Economics, Taylor & Francis Journals, vol. 49(42), pages 4231-4240, September.
    3. Xie, En & Reddy, K.S. & Liang, Jie, 2017. "Country-specific determinants of cross-border mergers and acquisitions: A comprehensive review and future research directions," Journal of World Business, Elsevier, vol. 52(2), pages 127-183.
    4. Zhao, Yong & Shi, Xunpeng & Song, Feng, 2020. "Has Chinese outward foreign direct investment in energy enhanced China's energy security?," Energy Policy, Elsevier, vol. 146(C).
    5. Reddy, K.S. & Xie, En, 2017. "Cross-border mergers and acquisitions by oil and gas multinational enterprises: Geography-based view of energy strategy," Renewable and Sustainable Energy Reviews, Elsevier, vol. 72(C), pages 961-980.

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