资源描述：
《发展中国家对外直接投资的决定因素【外文翻译】》由会员上传分享，免费在线阅读，更多相关内容在学术论文-天天文库。
1、本科毕业设计（论文）外文翻译ThedeterminantsofdirectforeigninvestmentindevelopingcountriesTheparticipationofdevelopingcountriesinthetotalinflowsofDirectForeignInvestment(FDI)hasvariedconsiderablyoverthelast25years,increasingfrom15%in1980to46%in1982,levelingoffatslightlyover20%duringthelastfourye
2、ars.Itmustbepointedout,however,thatthemotivesbehindtheseinternationalcapitalflowsarestillsubstantiallydifferentthanthoserelatedtotheinflowsofFDItodevelopingcountries,inspiteofthechangesthathavetakenplaceoverthelastdecades.Forexample,thesearchforagriculturalormineralresourcesismuch
3、lessimportanttodaythanitwasatthebeginningofthe20thcentury.Ontheotherhand,thecurrentmovementoftheseflowsisextremelycomplex,andissubjecttoawidevarietyoffactorsrelatedtothecompetitiveenvironmentinwhichthefirmsoperate,totheirspecificcharacteristics,andtoeconomicfactorsinthehomeandhost
4、countries.Theobjectiveofthisarticleistoestimate,basedonpaneldata,themaindeterminantsofFDIindevelopingcountries.Asshallbeseen,factorssuchasthesizeandrateofgrowthoftheproduct,theavailabilityofskilledlabor,thereceptivityofforeigncapital,thecountryriskrating,andthebehaviorofthestockma
5、rketplayimportantrolesinFDI.Furthermore,byapplyingthecausalitytestinapaneldatacontext,itwaspossibletodemonstratethenon-existenceofthewidelyheldbeliefthatdirectforeigninvestmenthasapositiveeffectupontheproduct.However,theprocedureusedtotestcausalityshowed,tothecontrary,thatthisphen
6、omenonactsintheoppositesense,i.e.,thatgenerallyitisthecountry’sproductthataffectsdirectforeigninvestment.Ourstudyisstructuredasfollows:inSection2weprovideareviewofthetheoreticalliteraturedealingwiththedeterminantsofdirectforeigninvestment.InSection3,weexaminerecentstudiesthatanaly
7、zetherelationbetweenFDIandseveraleconomicfactors.Insection4,weoutlineourmodelandthehypothesestobetested,andpresenttheresultsobtained(veroriginal).TheresultsarethenanalyzedinSection5.InSection6wetestthecausalityrelationbetweenforeigninvestmentandproduct.Lastly,inSection7,wepresentt
8、heconclusionsofourstudy.TheDeterm
