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Determinants of FDI in Czech Manufacturing Industries between 2000-2006

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Author Info
Eva Ryšavá () (Institute of Economic Studies, Faculty of Social Sciences, Charles University, Prague, Czech Republic)
Elisa Galeotti () (Institute of Economic Studies, Faculty of Social Sciences, Charles University, Prague, Czech Republic)

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Abstract

The Czech Republic has been a successful recipient of foreign direct investment over recent years. Therefore, it is important to understand the decisions made by foreign investors where to place their investments and how to decide about their location between alternative industries. The aim of this paper is to _nd and estimate an econometric model describing the determinants of foreign direct investment (FDI) in manufacturing industry of the CR between 2000-2006. Our model includes several basic economic variables (for example labor, physical capital, R&D, pro_ts per labor. Together with simple techniques of estimation (OLS, _xed e_ects) we used generalized method of moments (GMM). As an additional technique we used also least trimmed squares estimator (LTS) as a diagnostic tool for the heterogeneous pattern of data.

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File URL: http://ies.fsv.cuni.cz/default/file/download/id/10669
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Publisher Info
Paper provided by Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies in its series Working Papers IES with number 2009/17.

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Length: 26 pages
Date of creation: Apr 2009
Date of revision: Apr 2009
Handle: RePEc:fau:wpaper:wp2009_17

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Related research
Keywords: Foreign direct investment; Czech Republic; manufacturing industry; panel data; GMM;

Find related papers by JEL classification:
C01 - Mathematical and Quantitative Methods - - General - - - Econometrics
C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data
C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data
F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
F40 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - General

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References listed on IDEAS
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  1. Arellano, Manuel & Bond, Stephen, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," Review of Economic Studies, Blackwell Publishing, vol. 58(2), pages 277-97, April. [Downloadable!] (restricted)
  2. Bruce A. Blonigen, 2005. "A Review of the Empirical Literature on FDI Determinants," NBER Working Papers 11299, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  3. Prescott, Edward C, 1998. "Needed: A Theory of Total Factor Productivity," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 39(3), pages 525-51, August.
    Other versions:
  4. Alan A. Bevan & Saul Estrin, 2000. "The Determinants of Foreign Direct Investment in Transition Economies," William Davidson Institute Working Papers Series 342, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
  5. Bruce Blonigen, 2005. "A Review of the Empirical Literature on FDI Determinants," Atlantic Economic Journal, International Atlantic Economic Society, vol. 33(4), pages 383-403, December. [Downloadable!] (restricted)
  6. Arellano, Manuel & Bover, Olympia, 1995. "Another look at the instrumental variable estimation of error-components models," Journal of Econometrics, Elsevier, vol. 68(1), pages 29-51, July. [Downloadable!] (restricted)
  7. Cheng, Leonard K. & Kwan, Yum K., 2000. "What are the determinants of the location of foreign direct investment? The Chinese experience," Journal of International Economics, Elsevier, vol. 51(2), pages 379-400, August. [Downloadable!] (restricted)
  8. Smarzynska, Beata & Spartareanu, Mariana, 2004. "Do foreign investors care about labor market regulations?," Policy Research Working Paper Series 3275, The World Bank. [Downloadable!]
    Other versions:
  9. Blundell, Richard & Bond, Stephen, 1998. "Initial conditions and moment restrictions in dynamic panel data models," Journal of Econometrics, Elsevier, vol. 87(1), pages 115-143, August. [Downloadable!] (restricted)
    Other versions:
  10. Bevan, Alan & Estrin, Saul, 2000. "The Determinants of Foreign Direct Investment in Transition Economies," CEPR Discussion Papers 2638, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  11. Anna Kadeřábková, 2007. "Technology Intensity And Fdi In The Czech Republic Competitive Advantage," Politická ekonomie, University of Economics, Prague, vol. 2007(3). [Downloadable!] (restricted)
  12. Ashoka Mody, 2004. "Is FDI Integrating the World Economy?," The World Economy, Blackwell Publishing, vol. 27(8), pages 1195-1222, 08. [Downloadable!] (restricted)
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