资源描述：
《On the determinants of foreign direct investment to developing countries is Africa different》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、WorldDevelopmentVol.30,No.1,pp.107±119,2002Ó2001ElsevierScienceLtd.AllrightsreservedPrintedinGreatBritainwww.elsevier.com/locate/worlddev0305-750X/01/$-seefrontmatterPII:S0305-750X01)00100-0OntheDeterminantsofForeignDirectInvestmenttoDevelopingCount
2、ries:IsAfricaDierent?ELIZABETHASIEDU*UniversityofKansas,Lawrence,KS,USASummary.ÐThispaperexploreswhetherfactorsthataectForeignDirectInvestment&FDI)indevelopingcountriesaectcountriesinsub-SaharanAfrica&SSA)dierently.Theresultsindicatethat:&a)ahigherre
3、turnoninvestmentandbetterinfrastructurehaveapositiveimpactonFDItonon-SSAcountries,buthavenosigni®cantimpactonFDItoSSA;&b)opennesstotradepromotesFDItoSSAandnon-SSAcountries;however,themarginalbene®tfromincreasedopennessislessforSSA.Theseresultsimplyth
4、atAfricaisdierentÐsuggestingthatpoliciesthathavebeensuccessfulinotherregionsmaynotbeequallysuccessfulinAfrica.Ó2001ElsevierScienceLtd.Allrightsreserved.KeywordsÐAfrica,capital¯ows,foreigndirectinvestment,investmentrisk,developingcountriescapitalforin
5、vestment.Inaddition,FDIbringswithitemployment,managerialskillsandTheAfricancontinentdidnotbene®tfromthein-technology,andthereforeitacceleratesgrowthcreasedinvestment¯owstodevelopingcountriesasanddevelopment.3TheroleofFDIasasourceawhole,inspiteofthefa
6、ctthatthecountriesoftheofcapitalhasbecomeincreasinglyimportanttoregionundertookmanyeortstoattractinvest-SSA.Thisstemsfromthefactthatincomement...&UNCTAD,1995,p.iii).levelsanddomesticsavingsintheregionareverylow.Asaresult,externalcapitalisneededtosupp
7、lementdomesticsavingsinordertospurinvestmentandgrowth.MostcountriesinSSA,however,donothaveaccesstointernational1.INTRODUCTIONcapitalmarketsandthereforehavetorelyontheothertwoformsofforeign®nance:FDIThepastdecadehaswitnessedadramaticandocialloans&e.g.
8、,loansfrommultilateralincreaseinForeignDirectInvestment&FDI)toorganizationssuchastheWorldBank).4Indevelopingcountries,withFDIincreasingfromaddition,ociallendingtotheregionhas$24billion&24%oftotalforeigninvestment)indeclinedsubstantiallyoverthepastdec
