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Reverse FDI in Europe: An Analysis of Angola's FDI in Portugal

Author

Listed:
  • Carlos Barros
  • Bruno Damásio
  • João Ricardo Faria

Abstract

This paper analyses foreign direct investment (FDI) of Angola in Portugal. The reverse investment of African countries in Europe is a recent economic event that needs to be analysed, theoretically explained and empirically tested. A dynamic theoretical model is presented and a Bayesian model tests the model validating it. The results reveal that imports and corruption increase Angola FDI in Portugal. Some variables affect negatively Angola FDI in Portugal such as lagged Angola FDI, signifying an autoregressive negative effect in Portugal; the Portuguese official development assistance (ODA) to Angola, which are direct transfers from Portugal to Angola; and Angola's GDP. Policy implications are discussed.

Suggested Citation

  • Carlos Barros & Bruno Damásio & João Ricardo Faria, 2014. "Reverse FDI in Europe: An Analysis of Angola's FDI in Portugal," African Development Review, African Development Bank, vol. 26(1), pages 160-171.
    • Handle: RePEc:adb:adbadr:2124
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    Cited by:

    1. Aurora A. C. Teixeira & Ana Sofia Loureiro, 2019. "FDI, income inequality and poverty: a time series analysis of Portugal, 1973–2016," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 18(3), pages 203-249, October.
    2. Ebenezer Bugri Anarfo & Abel Mawuko Agoba & Robert Abebreseh, 2017. "Foreign Direct Investment in Ghana: The Role of Infrastructural Development and Natural Resources," African Development Review, African Development Bank, vol. 29(4), pages 575-588, December.
    3. Asongu, Simplice A., 2017. "Assessing marginal, threshold, and net effects of financial globalisation on financial development in Africa," Journal of Multinational Financial Management, Elsevier, vol. 40(C), pages 103-114.
    4. Simplice Asongu & Lieven De Moor, 2015. "Financial globalisation and financial development in Africa: assessing marginal, threshold and net effects," Working Papers of the African Governance and Development Institute. 15/040, African Governance and Development Institute..
    5. Faria, João Ricardo & McAdam, Peter, 2015. "Macroeconomic adjustment under regime change: From social contract to Arab Spring," Journal of International Money and Finance, Elsevier, vol. 56(C), pages 1-22.

    More about this item

    JEL classification:

    • F29 - International Economics - - International Factor Movements and International Business - - - Other
    • O55 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Africa
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics

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