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Informal Institutions and Foreign Direct Investment

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  • Belay Seyoum

Abstract

Foreign direct investment (FDI) inflows cannot solely be determined by conventional variables such as availability of natural resources, high skilled manpower or modern infrastructure. Important explanations also include the crucial role of institutions in attracting investment flows. This study explores the role of informal institutions in investment flows as well as the relationship between formal and informal institutions in the context of FDI flows. The term "informal institutions" has been used to describe a diverse set of practices such as corruption or culture thus leading to a serious conceptual ambiguity. This study attempts to provide a more precise and analytically useful definition. It builds on the Helmke and Levitsky typology of informal institutions.

Suggested Citation

  • Belay Seyoum, 2011. "Informal Institutions and Foreign Direct Investment," Journal of Economic Issues, Taylor & Francis Journals, vol. 45(4), pages 917-940.
  • Handle: RePEc:mes:jeciss:v:45:y:2011:i:4:p:917-940
    DOI: 10.2753/JEI0021-3624450409
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    Cited by:

    1. Bhupatiraju S., 2014. "Multi-level determinants of inward FDI ownership," MERIT Working Papers 085, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    2. Luis Araujo & Paulo Arvate, 2016. "Institutional quality and capital taxation," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 23(1), pages 25-47, February.
    3. Lucie Davidova & Vladimir Benacek, 2014. "Determinants of Austrian International Trade: Analysis Based on the Gravity Model," Working Papers IES 2014/15, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Feb 2014.

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