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Ist Demokratie ein Standortvorteil?

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  • Brandmann, Marco

Abstract

Dieses Diskussionspapier behandelt die Fragestellung, ob Demokratie einen Einfluss auf die Investitionsentscheidungen multinationaler Unternehmen hat. Mithilfe bestehender Literatur inklusive des "Strategy Tripod" nach Peng et al. (2008) werden drei Hypothesen hergeleitet, bei denen zwischen dem Demokratiegrad, der Regierungsqualität und der wirtschaftspolitischen Attraktivität unterschieden wird. Die Investitionsentscheidungen werden in dieser Arbeit durch ausländische Direktinvestitionen dargestellt. Im Rahmen der empirischen Analyse werden zwei Modelle, die sich durch unterschiedliche Demokratievariablen unterscheiden, für den Zeitraum von 2010 bis 2023 untersucht. In beiden Modellen wird eine Fixed-Effects-Regression mit Jahresdummies und Driscoll-Kraay-Standardfehlern durchgeführt. Die Ergebnisse der empirischen Analyse zeigen, dass der Demokratiegrad im Gegensatz zu der Regierungsqualität und der wirtschaftspolitischen Attraktivität eines Landes keinen signifikanten Einfluss auf die Standortentscheidung multinationaler Unternehmen hat. Während das Vorhandensein von Demokratie für Unternehmen allein kein Standortfaktor hinsichtlich der Investitionsentscheidungen darstellt, spielen die Verlässlichkeit und Effektivität von Regierungen wie auch die wirtschaftspolitische Attraktivität hierfür eine entscheidende Rolle.

Suggested Citation

  • Brandmann, Marco, 2026. "Ist Demokratie ein Standortvorteil?," Discussion Papers of the Institute for Organisational Economics 5/2026, University of Münster, Institute for Organisational Economics.
    • Handle: RePEc:zbw:umiodp:341417
    DOI: 10.17879/60948649291
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    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • M16 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - International Business Administration
    • P51 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems

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