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FDI in the European Union and Mena Countries: Institutional and Economic Determinants

  • José Caetano

    ()

    (Universidade de Evora, Departamento de Economia, CEFAGE-UE)

  • Aurora galego

    ()

    (Universidade de Evora, Departamento de Economia, CEFAGE-UE)

FDI flows to the Middle East and North Africa countries (MENA) have been relatively low when compared to the neighbouring European Union (EU) and to other developing and emerging countries. Furthermore, empirical research on FDI in these countries is relatively scarce. In this paper we use panel data regressions and consider a period of 9 years (since mid nineties) to investigate possible differences in the determinants of FDI performance in these regions. In particular, we use a panel of 42 countries which include 17 MENA countries and 25 European countries. Unlike previous studies, we consider the inward FDI performance index, as provided by UNCTAD, as dependent variable and include both institutional and macroeconomic variables as possible determinants of FDI. The aim is to investigate whether there are region-specific factors that are significant for FDI performance. We conclude that there are some significant differences on the institutional determinants of FDI performance, namely in what concerns Investment Freedom, Government Size and Trade Freedom.

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Paper provided by University of Evora, CEFAGE-UE (Portugal) in its series CEFAGE-UE Working Papers with number 2009_09.

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Length: 23 pages
Date of creation: 2009
Date of revision:
Handle: RePEc:cfe:wpcefa:2009_09
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  1. Globerman, Steven & Shapiro, Daniel, 2002. "Global Foreign Direct Investment Flows: The Role of Governance Infrastructure," World Development, Elsevier, vol. 30(11), pages 1899-1919, November.
  2. Shang-Jin Wei, 1997. "How Taxing is Corruption on International Investors?," William Davidson Institute Working Papers Series 63, William Davidson Institute at the University of Michigan.
  3. Hisarciklilar, Mehtap & Kayam, Saime Suna & Kayalica, Ozgur, 2006. "Locational Drivers of FDI in MENA Countries: A Spatial Attempt," MPRA Paper 2085, University Library of Munich, Germany.
  4. Bruce A. Blonigen, 2000. "Tariff-Jumping Antidumping Duties," NBER Working Papers 7776, National Bureau of Economic Research, Inc.
  5. Agnès Bénassy-Quéré & Maylis Coupet & Thierry Mayer, 2007. "Institutional Determinants of Foreign Direct Investment," The World Economy, Wiley Blackwell, vol. 30(5), pages 764-782, 05.
  6. Becchetti, Leonardo & Hasan, Iftekhar, 2005. "The Effects of (within and with EU) Regional Integration: Impact on Real Effective Exchange Rate Volatility, Institutional Quality and Growth for MENA Countries," Working Paper Series RP2005/73, World Institute for Development Economic Research (UNU-WIDER).
  7. Steven Globerman & Daniel Shapiro, 2003. "Governance infrastructure and US foreign direct investment," Journal of International Business Studies, Palgrave Macmillan, vol. 34(1), pages 19-39, January.
  8. Pierre-Guillaume Méon & Khalid Sekkat, 2004. "Does the quality of institutions limit MENA integration in the world economy?," ULB Institutional Repository 2013/7360, ULB -- Universite Libre de Bruxelles.
  9. Pierre-Guillaume Méon & Khalid Sekkat, 2004. "Does the Quality of Institutions Limit the MENA's Integration in the World Economy?," The World Economy, Wiley Blackwell, vol. 27(9), pages 1475-1498, 09.
  10. Daron Acemoglu & Simon Johnson & James A. Robinson, 2002. "Reversal Of Fortune: Geography And Institutions In The Making Of The Modern World Income Distribution," The Quarterly Journal of Economics, MIT Press, vol. 117(4), pages 1231-1294, November.
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