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

  • Carlos Barros
  • Bruno Damásio
  • João Faria
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    This paper analyses investment from Angola in Portugal. An open economy model with money laundering is proposed and then tested with a time series Bayesian regression. The result reveals that exports and corruption are the positive determinants of Angola FDI in Portugal. Policy implications are derived.

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    File URL: http://pascal.iseg.utl.pt/~cesa/RePEc/cav/cavwpp/wp98.pdf
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    Paper provided by CEsA - Center of African, Asian and Latin American Studies in its series CEsA Working Papers with number 98.

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    Date of creation: Dec 2011
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    Handle: RePEc:cav:cavwpp:wp98
    Contact details of provider: Postal:
    CEsA - Center of African, Asian and Latin American Studies, University of Lisbon, Rua Miguel Lupi 20, 1249-078 Lisboa, Portugal

    Web page: http://pascal.iseg.utl.pt/~cesa/

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    1. van den Broeck, Julien & Koop, Gary & Osiewalski, Jacek & Steel, Mark F. J., 1994. "Stochastic frontier models : A Bayesian perspective," Journal of Econometrics, Elsevier, vol. 61(2), pages 273-303, April.
    2. Assaf Razin & Efraim Sadka & Tarek Coury, 2002. "Trade Openness, Investment Instability and Terms-of-Trade Volatility," NBER Working Papers 9332, National Bureau of Economic Research, Inc.
    3. Matthew Cole & Robert Elliott & Jing Zhang, 2008. "Corruption, Governance and FDI Location in China : A Province-Level Analysis," Discussion Papers 08-06, Department of Economics, University of Birmingham.
    4. Koop, Gary & Osiewalski, Jacek & Steel, Mark F. J., 1997. "Bayesian efficiency analysis through individual effects: Hospital cost frontiers," Journal of Econometrics, Elsevier, vol. 76(1-2), pages 77-105.
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    7. Felipe Larraín & José Tavares, 2004. "Does Foreign Direct Investment Decrease Corruption?," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 41(123), pages 217-230.
    8. Paolo Mauro, 1995. "Corruption and Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 110(3), pages 681-712.
    9. Yeaple, Stephen & Helpman, Elhanan & Melitz, Marc, 2004. "Export versus FDI with Heterogeneous Firms," Scholarly Articles 3229098, Harvard University Department of Economics.
    10. Alfaro, Laura & Chanda, Areendam & Kalemli-Ozcan, Sebnem & Sayek, Selin, 2010. "Does foreign direct investment promote growth? Exploring the role of financial markets on linkages," Journal of Development Economics, Elsevier, vol. 91(2), pages 242-256, March.
    11. Lui, Francis T, 1985. "An Equilibrium Queuing Model of Bribery," Journal of Political Economy, University of Chicago Press, vol. 93(4), pages 760-81, August.
    12. David J. Spiegelhalter & Nicola G. Best & Bradley P. Carlin & Angelika van der Linde, 2002. "Bayesian measures of model complexity and fit," Journal of the Royal Statistical Society Series B, Royal Statistical Society, vol. 64(4), pages 583-639.
    13. Görg, Holger & Mühlen, Henning & Nunnenkamp, Peter, 2010. "FDI liberalization, firm heterogeneity and foreign ownership: German firm decisions in reforming India," Proceedings of the German Development Economics Conference, Hannover 2010 35, Verein für Socialpolitik, Research Committee Development Economics.
    14. Ali Al-Sadig, 2009. "The Effects of Corruption on FDI Inflows," Cato Journal, Cato Journal, Cato Institute, vol. 29(2), pages 267-294, Winter.
    15. Katariina Nilsson Hakkala & Pehr-Johan Norbäck & Helena Svaleryd, 2008. "Asymmetric Effects of Corruption on FDI: Evidence from Swedish Multinational Firms," The Review of Economics and Statistics, MIT Press, vol. 90(4), pages 627-642, November.
    16. Faria, Joao Ricardo & Leon-Ledesma, Miguel A., 2005. "Real exchange rate and employment performance in an open economy," Research in Economics, Elsevier, vol. 59(1), pages 67-80, March.
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