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FDI in the Mediterranean Region: a Comparison with CEE Experience

  • Alessandrini, Sergio
  • Resmini, Laura

The research paper was designed to identify the factors that would explain the patterns and the determinants of FDI in the Mediterranean region during 1990-1997. The most important fact characterising this period has been the extension of the Association Agreements to most of the countries belonging to the region. It was thought that these agreements would have given a new boost to foreign direct investments into the region, penalised by the emerging of the countries of Central and Eastern Europe as preferential partners of the EU. According to the empirical analyses, natural resource endowment still represents an important factor of attraction of FDI, relative to Central and Eastern Europe. Moreover, foreign investors have been attracted in the MED region by market considerations, concerning not only the single national markets, but also the regional one. This effect is stronger than in Central and Eastern Europe, suggesting that a deeper regional integration may sound attractive to foreign enterprises, mainly if the parent firm is located in the United States. Trade with major investors countries also matters, even though the derived effect appears somewhat smaller than found in Central Europe. This implies that an improvement in trade relationships with the EU – as envisaged by the Association Agreements – would have a positive impact on FDI patterns.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 26103.

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Date of creation: 2000
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Handle: RePEc:pra:mprapa:26103
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  1. Deardorff, A.V. & Brown, D.K. & Stern, R.M., 1996. "Some Economic Effects of the Free Trade Agreement Between Tunisia and the European Union," Working Papers 385, Research Seminar in International Economics, University of Michigan.
  2. B. Hoekman & S. Djankov, 1996. "Catching Up With Eastern Europe? The European Union's Mediterranean Free Trade Initiative," Working Papers 9612, Economic Research Forum, revised Apr 1996.
  3. 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.
  4. Laura Resmini, 2000. "The Determinants of Foreign Direct Investment in the CEECs: New evidence from sectoral patterns," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 8(3), pages 665-689, November.
  5. Hans-Peter Lankes & A. J. Venables, 1996. "Foreign direct investment in economic transition: the changing pattern of investments," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 4(2), pages 331-347, October.
  6. Hoekman, Bernard & Konan, Denise, 1999. "Deep Integration, Non-Discrimination and Euro-Mediterranean Free Trade," CEPR Discussion Papers 2095, C.E.P.R. Discussion Papers.
  7. Markusen, James R. & Venables, Anthony J., 1999. "Foreign direct investment as a catalyst for industrial development," European Economic Review, Elsevier, vol. 43(2), pages 335-356, February.
  8. 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.
  9. Blomström, Magnus & Kokko, Ari, 1997. "Regional Integration and Foreign Direct Investment," CEPR Discussion Papers 1659, C.E.P.R. Discussion Papers.
  10. Peter A. Petri, 1997. "Trade Strategies for the Southern Mediterranean," OECD Development Centre Working Papers 127, OECD Publishing.
  11. Denise Eby Konan & Keith E Maskus, 1997. "A Computable General Equilibrium Analysis of Egyptian Trade Liberalization Scenarios," Working Papers 199701, University of Hawaii at Manoa, Department of Economics.
  12. Singh, Harinder & Kwang W. Jun, 1995. "Some new evidence on determinants of foreign direct investment in developing countries," Policy Research Working Paper Series 1531, The World Bank.
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