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Institutional Reforms Debate and FDI Flows to MENA Region: Does One “Best” Fit All?

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Author Info

  • Wasseem MIchel Mina

    ()
    (United Arab Emirates University)

Abstract

The paper revisits the policy debate on institutional reform approaches to property rights protection and empirically examines it in the context of FDI flows to the MENA region. Using panel data on 11 MENA countries for the period 1991-2007 and adopting FGLS methodology,the paper finds a positive influence of improvement in the risk of investment expropriationin non-GCC MENA countries and of bilateral investment treaties in GCC countries. The joint influence of domestic institutional functions and bilateral investment treaties is positive in specifications containing investment expropriation risk and government stability in non-GCC MENA countries, and corruption in GCC countries. Results have important policy implications for the institutional reform approach to be adopted.

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File URL: http://icepp.gsu.edu/sites/default/files/documents/icepp/wp/ispwp1034.pdf
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Bibliographic Info

Paper provided by International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University in its series International Center for Public Policy Working Paper Series, at AYSPS, GSU with number paper1034.

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Length: 52 pages
Date of creation: 01 Dec 2010
Date of revision:
Handle: RePEc:ays:ispwps:paper1034

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Phone: 404-413-0235
Fax: 404-413-0244
Web page: http://aysps.gsu.edu/isp/index.html

Related research

Keywords: Property rights protection; bilateral investment treaties; FDI; institutional reforms; MENA; heterogeneity;

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References

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  1. Egger, Peter & Pfaffermayr, Michael, 2004. "The impact of bilateral investment treaties on foreign direct investment," Journal of Comparative Economics, Elsevier, vol. 32(4), pages 788-804, December.
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  14. Wasseem Mina & Jorge Martinez-Vazquez, 2006. "Contract Enforcement, Institutional Stability, and the Level and Maturity of International Debt," International Center for Public Policy Working Paper Series, at AYSPS, GSU paper0617, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.
  15. Magda Kandil & Ida A. Mirzaie, 2008. "The Impact Of Capital And Remittance Flows On Economic Performance In Mena Countries," Working Papers 440, Economic Research Forum, revised Oct 2008.
  16. Mina, Wasseem, 2009. "External commitment mechanisms, institutions, and FDI in GCC countries," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 19(2), pages 371-386, April.
  17. Elkins, Zachary & Guzman, Andrew T. & Simmons, Beth A., 2006. "Competing for Capital: The Diffusion of Bilateral Investment Treaties, 1960 2000," International Organization, Cambridge University Press, vol. 60(04), pages 811-846, October.
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  23. Wasseem Mina, 2006. "Does contract enforcement matter for international lending?," Applied Economics Letters, Taylor & Francis Journals, vol. 13(6), pages 359-364.
  24. Bellak, Christian & Leibrecht, Markus & Riedl, Aleksandra, 2008. "Labour costs and FDI flows into Central and Eastern European Countries: A survey of the literature and empirical evidence," Structural Change and Economic Dynamics, Elsevier, vol. 19(1), pages 17-37, March.
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Citations

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Cited by:
  1. Mina, Wasseem, 2013. "United Arab Emirates FDI Outlook," MPRA Paper 51810, University Library of Munich, Germany.
  2. Wasseem Mina, 2013. "Beyond FDI: The Influence of Bilateral Investment Treaties on Debt," International Center for Public Policy Working Paper Series, at AYSPS, GSU paper1325, International Center for Public Policy, Andrew Young School of Policy Studies, Georgia State University.
  3. Elsamadisy, Elsayed Mousa & Alkhater, Khalid Rashid & Basher, Syed Abul, 2013. "Pre- versus Post-Crisis Central Banking in Qatar," MPRA Paper 45310, University Library of Munich, Germany.
  4. Mina, Wasseem, 2013. "Political Risk Guarantees and Capital Flows: The Role of Bilateral Investment Treaties," MPRA Paper 51811, University Library of Munich, Germany.
  5. Mina, Wasseem Michel, 2012. "The Institutional Reforms Debate and FDI Flows to the MENA Region: The “Best” Ensemble," World Development, Elsevier, vol. 40(9), pages 1798-1809.

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