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Determinants of FDI in Czech Manufacturing Industries between 2000-2006

The Czech Republic has been a successful recipient of foreign direct investment over recent years. Therefore, it is important to understand the decisions made by foreign investors where to place their investments and how to decide about their location between alternative industries. The aim of this paper is to _nd and estimate an econometric model describing the determinants of foreign direct investment (FDI) in manufacturing industry of the CR between 2000-2006. Our model includes several basic economic variables (for example labor, physical capital, R&D, pro_ts per labor. Together with simple techniques of estimation (OLS, _xed e_ects) we used generalized method of moments (GMM). As an additional technique we used also least trimmed squares estimator (LTS) as a diagnostic tool for the heterogeneous pattern of data.

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Paper provided by Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies in its series Working Papers IES with number 2009/17.

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Length: 26 pages
Date of creation: Apr 2009
Date of revision: Apr 2009
Handle: RePEc:fau:wpaper:wp2009_17
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  1. Alan A. Bevan & Saul Estrin, 2000. "The Determinants of Foreign Direct Investment in Transition Economies," William Davidson Institute Working Papers Series 342, William Davidson Institute at the University of Michigan.
  2. Arellano, Manuel & Bover, Olympia, 1995. "Another look at the instrumental variable estimation of error-components models," Journal of Econometrics, Elsevier, vol. 68(1), pages 29-51, July.
  3. Prescott, Edward C, 1998. "Needed: A Theory of Total Factor Productivity," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 39(3), pages 525-51, August.
  4. repec:imf:imfwpa:03/228 is not listed on IDEAS
  5. R Blundell & Steven Bond, . "Initial conditions and moment restrictions in dynamic panel data model," Economics Papers W14&104., Economics Group, Nuffield College, University of Oxford.
  6. Vladimír Benáček & Alena Zemplinerová, 1997. "Foreign direct investment in the czech manufacturing sector," Prague Economic Papers, University of Economics, Prague, vol. 1997(2).
  7. 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.
  8. Cheng, Leonard K. & Kwan, Yum K., 2000. "What are the determinants of the location of foreign direct investment? The Chinese experience," Journal of International Economics, Elsevier, vol. 51(2), pages 379-400, August.
  9. John H Dunning, 1980. "Towards an Eclectic Theory of International Production: Some Empirical Tests," Journal of International Business Studies, Palgrave Macmillan, vol. 11(1), pages 9-31, March.
  10. Ashoka Mody, 2004. "Is FDI Integrating the World Economy?," The World Economy, Wiley Blackwell, vol. 27(8), pages 1195-1222, 08.
  11. Dunning, John H., 2000. "The eclectic paradigm as an envelope for economic and business theories of MNE activity," International Business Review, Elsevier, vol. 9(2), pages 163-190, April.
  12. Wilfried Altzinger, 1998. "Austria's Foreign Direct Investment in Central and Eastern Europe: 'Supply Based' or 'Market Driven'?," Department of Economics Working Papers wuwp057, Vienna University of Economics and Business, Department of Economics.
  13. Bevan, Alan & Estrin, Saul, 2000. "The Determinants of Foreign Direct Investment in Transition Economies," CEPR Discussion Papers 2638, C.E.P.R. Discussion Papers.
  14. Pye, Robert, 1998. "Foreign direct investment in Central Europe:: Experiences of major Western investors," European Management Journal, Elsevier, vol. 16(4), pages 378-389, August.
  15. Bruce Blonigen, 2005. "A Review of the Empirical Literature on FDI Determinants," Atlantic Economic Journal, International Atlantic Economic Society, vol. 33(4), pages 383-403, December.
  16. 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.
  17. Arellano, Manuel & Bond, Stephen, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," Review of Economic Studies, Wiley Blackwell, vol. 58(2), pages 277-97, April.
  18. Anna Kadeřábková, 2007. "Technology intensity and fdi in the Czech Republic competitive advantage," Politická ekonomie, University of Economics, Prague, vol. 2007(3).
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