Role of Governance and Institutional Environment in Affecting Cross Border M&As, Alliances and Project Financing: Evidence from Emerging Markets
The growth in foreign activities has attracted numerous investigations on their flow into various regions of the world. The majority of these inquiries however have tended to focus on activities taking place between U.S.A and Europe, NAFTA countries, countries within Eastern and Central Europe, or within Asia-Pacific nations. There is a scarcity of research examining foreign investment activities in the emerging markets of the Middle East and North Africa (MENA) region. The goal of this paper is to void this gap by analyzing the patterns of such activities in this region. It focuses more specifically on components of foreign investment that are not usually included in the traditional measure of FDI, namely cross border M&As, alliances, and project financing. The paper explores the impact of governance and institutional environment in affecting investment activities in the region. It reports a strong association of economic freedom, property rights, and regulations with multiple proxies of foreign investments in the sample countries.
|Date of creation:||28 May 2010|
|Date of revision:||28 May 2010|
|Contact details of provider:|| Postal: CEIS - Centre for Economic and International Studies - Faculty of Economics - University of Rome "Tor Vergata" - Via Columbia, 2 00133 Roma|
Web page: http://www.ceistorvergata.it
More information through EDIRC
|Order Information:|| Postal: CEIS - Centre for Economic and International Studies - Faculty of Economics - University of Rome "Tor Vergata" - Via Columbia, 2 00133 Roma|
Web: http://www.ceistorvergata.it Email:
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Kolstad, Ivar & Villanger, Espen, 2008.
"Determinants of foreign direct investment in services,"
European Journal of Political Economy,
Elsevier, vol. 24(2), pages 518-533, June.
- Ivar Kolstad & Espen Villanger, 2004. "Determinants of foreign direct investment in services," CMI Working Papers WP 2004: 2, CMI (Chr. Michelsen Institute), Bergen, Norway.
- Luiz de Mello, 1997. "Foreign direct investment in developing countries and growth: A selective survey," Journal of Development Studies, Taylor & Francis Journals, vol. 34(1), pages 1-34.
- Bagella, Michele & Becchetti, Leonardo & Hasan, Iftekhar, 2004.
"The anticipated and concurring effects of the EMU : exchange rate volatility, institutions and growth,"
Research Discussion Papers
15/2004, Bank of Finland.
- Bagella, Michele & Becchetti, Leonardo & Hasan, Iftekhar, 2004. "The anticipated and concurring effects of the EMU: exchange rate volatility, institutions and growth," Journal of International Money and Finance, Elsevier, vol. 23(7-8), pages 1053-1080.
- White, Halbert, 1980. "A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity," Econometrica, Econometric Society, vol. 48(4), pages 817-38, May.
- 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.
- Aghion, Philippe & Banerjee, Abhijit, 2005. "Volatility and Growth," OUP Catalogue, Oxford University Press, number 9780199248612.
- Alfaro, Laura & Chanda, Areendam & Kalemli-Ozcan, Sebnem & Sayek, Selin, 2004.
"FDI and economic growth: the role of local financial markets,"
Journal of International Economics,
Elsevier, vol. 64(1), pages 89-112, October.
- Sebnem Kalemli-Ozcan & Laura Alfaro & Selin Sayek & Areendam Chanda, 2002. "FDI and Economic Growth: The Role of Local Financial Markets," Macroeconomics 0212007, EconWPA.
- Dwayne Benjamin & Loren Brandt, 2002.
"Property rights, labour markets, and efficiency in a transition economy: the case of rural China,"
Canadian Journal of Economics,
Canadian Economics Association, vol. 35(4), pages 689-716, November.
- Dwayne Benjamin & Loren Brandt, 2000. "Property Rights, Labor Markets, and Efficiency in a Transition Economy: The Case of Rural China," Working Papers benjamin-00-02, University of Toronto, Department of Economics.
- Loren Brandt & Dwayne Benjamin, 2002. "Property Rights, Labour Markets, and Efficiency in a Transition Economy: The Case of Rural China," William Davidson Institute Working Papers Series 518, William Davidson Institute at the University of Michigan.
- Philipp Harms & Heinrich Ursprung, 2001.
"Do Civil and Political Repression Really Boost Foreign Direct Investments?,"
CESifo Working Paper Series
421, CESifo Group Munich.
- Philipp Harms & Heinrich W. Ursprung, 2002. "Do Civil and Political Repression Really Boost Foreign Direct Investments?," Economic Inquiry, Western Economic Association International, vol. 40(4), pages 651-663, October.
- Paolo Mauro, 1995. "Corruption and Growth," The Quarterly Journal of Economics, Oxford University Press, vol. 110(3), pages 681-712.
- Bouoiyour, Jamal, 2004. "Foreign direct investment in Morocco," MPRA Paper 31457, University Library of Munich, Germany.
- 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.
- Steven Globerman & Daniel Shapiro, 2004. "Governance Infrastructure and U.S. Foreign Direct Investment," International Finance 0404008, EconWPA.
- Pierre-Guillaume Méon & Laurent Weill, 2005.
"Does better governance foster efficiency? An aggregate frontier analysis,"
ULB Institutional Repository
2013/8368, ULB -- Universite Libre de Bruxelles.
- Pierre-Guillaume Méon & Laurent Weill, 2004. "Does better governance foster efficiency? An aggregate frontier analysis," Economics of Governance, Springer, vol. 6(1), pages 75-90, January.
- Xavier Sala-i-Martín & Elsa V. Artadi, 2003. "Economic growth and investment in the Arab world," Economics Working Papers 683, Department of Economics and Business, Universitat Pompeu Fabra.
- Ewe-Ghee Lim, 2001. "Determinants of, and the Relation Between, Foreign Direct Investment and Growth; A Summary of the Recent Literature," IMF Working Papers 01/175, International Monetary Fund.
- Charles Oman & Christiane Arndt, 2006. "Governance Indicators for Development," OECD Development Centre Policy Insights 33, OECD Publishing.
- Xu, Bin, 2000. "Multinational enterprises, technology diffusion, and host country productivity growth," Journal of Development Economics, Elsevier, vol. 62(2), pages 477-493, August.
- Mohsin Habib & Leon Zurawicki, 2002. "Corruption and Foreign Direct Investment," Journal of International Business Studies, Palgrave Macmillan, vol. 33(2), pages 291-307, June.
- Morisset, Jacques & Lumenga Neso, Olivier, 2002. "Administrative barriers to foreign investment in developing countries," Policy Research Working Paper Series 2848, The World Bank.
- Lee C. Adkins & Ronald L. Moomaw & Andreas Savvides, 2002. "Institutions, Freedom, and Technical Efficiency," Southern Economic Journal, Southern Economic Association, vol. 69(1), pages 92-108, July.
When requesting a correction, please mention this item's handle: RePEc:rtv:ceisrp:156. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Barbara Piazzi)
If references are entirely missing, you can add them using this form.