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FDI in the Mediterranean Region: a Comparison with CEE Experience

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  • Alessandrini, Sergio
  • Resmini, Laura

Abstract

The research paper was designed to identify the factors that would explain the patterns and the determinants of FDI in the Mediterranean region during 1990-1997. The most important fact characterising this period has been the extension of the Association Agreements to most of the countries belonging to the region. It was thought that these agreements would have given a new boost to foreign direct investments into the region, penalised by the emerging of the countries of Central and Eastern Europe as preferential partners of the EU. According to the empirical analyses, natural resource endowment still represents an important factor of attraction of FDI, relative to Central and Eastern Europe. Moreover, foreign investors have been attracted in the MED region by market considerations, concerning not only the single national markets, but also the regional one. This effect is stronger than in Central and Eastern Europe, suggesting that a deeper regional integration may sound attractive to foreign enterprises, mainly if the parent firm is located in the United States. Trade with major investors countries also matters, even though the derived effect appears somewhat smaller than found in Central Europe. This implies that an improvement in trade relationships with the EU – as envisaged by the Association Agreements – would have a positive impact on FDI patterns.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 26103.

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Date of creation: 2000
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Handle: RePEc:pra:mprapa:26103

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Related research

Keywords: Foreign Direct Investments; Association Agreements; Mediterranean; Central and Eastern Europe;

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References

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  1. Hoekman, Bernard & Konan, Denise, 1999. "Deep Integration, Non-Discrimination and Euro-Mediterranean Free Trade," CEPR Discussion Papers 2095, C.E.P.R. Discussion Papers.
  2. Hoekman, Bernard & Djankov, Simeon, 1996. "Catching up with Eastern Europe? The European Union's Mediterranean free trade initiative," Policy Research Working Paper Series 1562, The World Bank.
  3. Blomström, Magnus & Kokko, Ari, 1997. "Regional Integration and Foreign Direct Investment," Working Paper Series in Economics and Finance 172, Stockholm School of Economics.
  4. Denise Eby Konan & Keith E Maskus, 1997. "A Computable General Equilibrium Analysis of Egyptian Trade Liberalization Scenarios," Working Papers 199701, University of Hawaii at Manoa, Department of Economics.
  5. James R. Markusen & Anthony J. Venables, 1997. "Foreign Direct Investment as a Catalyst for Industrial Development," NBER Working Papers 6241, National Bureau of Economic Research, Inc.
  6. n/a, 2002. "The Role of Efficiency as an Explanation of International Income Differences," NIESR Discussion Papers 137, National Institute of Economic and Social Research.
  7. John H Dunning, 1998. "Location and the Multinational Enterprise: A Neglected Factor?," Journal of International Business Studies, Palgrave Macmillan, vol. 29(1), pages 45-66, March.
  8. Peter A. Petri, 1997. "Trade Strategies for the Southern Mediterranean," OECD Development Centre Working Papers 127, OECD Publishing.
  9. Deardorff, A.V. & Brown, D.K. & Stern, R.M., 1996. "Some Economic Effects of the Free Trade Agreement Between Tunisia and the European Union," Working Papers 385, Research Seminar in International Economics, University of Michigan.
  10. Laura Resmini, 2000. "The Determinants of Foreign Direct Investment in the CEECs: New evidence from sectoral patterns," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 8(3), pages 665-689, November.
  11. Singh, Harinder & Kwang W. Jun, 1995. "Some new evidence on determinants of foreign direct investment in developing countries," Policy Research Working Paper Series 1531, The World Bank.
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Cited by:
  1. Mustapha Sadni Jallab & Lahsen Abdelkmalki & René Sandretto, 2007. "The Free Trade Agreement Between the United States and Morocco. The Importance of a Gradual and Assymetric Agreement," Post-Print halshs-00359098, HAL.
  2. Heather D. Gibson & Nicholas T. Tsaveas & Thomas Vlassopoulos, 2006. "Capital Flows, Capital Account Liberalisation and the Mediterranean Countries," Working Papers 33, Bank of Greece.
  3. Heather D. Gibson & Thomas Vlassopoulo, 2007. "Capital Folws, capital account liberalisation and the southern Mediterranean countries," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, vol. 60(241), pages 137-165.

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