메뉴 건너뛰기




Volumn 47, Issue 4, 2011, Pages 59-74

Political risk as a determinant of southern European FDI in neighboring developing countries

Author keywords

central and eastern Europe; corruption; developing countries; foreign direct investment; multinational enterprise; North Africa; panel data; political risk

Indexed keywords


EID: 80052512334     PISSN: 1540496X     EISSN: None     Source Type: Journal    
DOI: 10.2753/REE1540-496X470404     Document Type: Article
Times cited : (55)

References (57)
  • 1
    • 33644679098 scopus 로고    scopus 로고
    • A two-part econometric analysis of foreign direct investment flows to Africa
    • Akinkugbe, O. 2005. "A Two-Part Econometric Analysis of Foreign Direct Investment Flows to Africa." Journal of World Trade 39, no. 5:907-923.
    • (2005) Journal of World Trade , vol.39 , Issue.5 , pp. 907-923
    • Akinkugbe, O.1
  • 2
    • 0042843630 scopus 로고    scopus 로고
    • Comparative study if FDI in Central and Eastern Europe and the mediterranean
    • DOI 10.1016/S0939-3625(03)00042-6, PII S0939362503000426
    • Altomonte, C., and C. Guagliano. 2003. "Comparative Study of FDI in Central and Eastern Europe and the Mediterranean. " Economic Systems 27, no. 2:223-246. (Pubitemid 36910233)
    • (2003) Economic Systems , vol.27 , Issue.2 , pp. 223-246
    • Altomonte, C.1    Guagliano, C.2
  • 3
    • 84881844837 scopus 로고
    • Some tests of specification for panel data: Monte carlo evidence and an application to employment equations
    • Arellano, M., and S. Bond. 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations." Review of Economic Studies 58, no. 2:277-297.
    • (1991) Review of Economic Studies , vol.58 , Issue.2 , pp. 277-297
    • Arellano, M.1    Bond, S.2
  • 4
    • 0036139214 scopus 로고    scopus 로고
    • On the determinants of foreign direct investment to developing countries: Is Africa different?
    • DOI 10.1016/S0305-750X(01)00100-0, PII S0305750X01001000
    • Asiedu, E. 2002. "On the Determinants of Foreign Direct Investment to Developing Countries: Is Africa Different?" World Development 30, no. 1:107-119. (Pubitemid 34034589)
    • (2002) World Development , vol.30 , Issue.1 , pp. 107-119
    • Asiedu, E.1
  • 5
    • 0842313037 scopus 로고    scopus 로고
    • Policy reform and foreign direct investment in Africa: Absolute progress but relative decline
    • -. Asiedu, E. 2004. "Policy Reform and Foreign Direct Investment to Africa: Absolute Progress but Relative Decline." Development Policy Review 22, no. 1:41-48. (Pubitemid 38162548)
    • (2004) Development Policy Review , vol.22 , Issue.1 , pp. 41-48
    • Asiedu, E.1
  • 6
    • 33645904813 scopus 로고    scopus 로고
    • Foreign direct investment in Africa: The role of natural resources, market size, government policy, institutions and political instability
    • -. Asiedu, E. 2006. "Foreign Direct Investment in Africa: The Role of Natural Resources, Market Size, Government Policy, Institutions and Political Instability." World Economy 29, no. 1:63-77.
    • (2006) World Economy , vol.29 , Issue.1 , pp. 63-77
    • Asiedu, E.1
  • 7
    • 67349258282 scopus 로고    scopus 로고
    • Financial development and openness: Evidence from panel data
    • Baltagi, B.; D. Panicos; and S. H. Law. 2009. "Financial Development and Openness: Evidence from Panel Data." Journal of Development Economics 89, no. 2:285-296.
    • (2009) Journal of Development Economics , vol.89 , Issue.2 , pp. 285-296
    • Baltagi, B.1    Panicos, D.2    Law, S.H.3
  • 8
    • 10344255713 scopus 로고    scopus 로고
    • The determinants of foreign direct investment into European transition economies
    • DOI 10.1016/j.jce.2004.08.006, PII S0147596704000733
    • Bevan, A. A., and S. Estrin. 2004. "The Determinants of Foreign Direct Investment into European Transition Economies." Journal of Comparative Economics 32, no. 4:775-787. (Pubitemid 39630990)
    • (2004) Journal of Comparative Economics , vol.32 , Issue.4 , pp. 775-787
    • Bevan, A.A.1    Estrin, S.2
  • 9
    • 0001438979 scopus 로고    scopus 로고
    • Initial conditions and moment restrictions in dynamic panel data models
    • PII S0304407697000098
    • Blundell, R., and S. Bond. 1998. "Initial Conditions and Moment Restrictions in Dynamic Panel Data Models." Journal of Econometrics 87:115-143. (Pubitemid 128415761)
    • (1998) Journal of Econometrics , vol.87 , Issue.1 , pp. 115-143
    • Blundell, R.1    Bond, S.2
  • 10
    • 0032736039 scopus 로고    scopus 로고
    • Economic integration and FDI: An empirical analysis of foreign investment in the EU and in central and eastern Europe
    • Brenton, P.; F. Di Mauro; and M. Lücke. 1999. "Economic Integration and FDI: An Empirical Analysis of Foreign Investment in the EU and in Central and Eastern Europe." Empirica 26, no. 2:95-121.
    • (1999) Empirica , vol.26 , Issue.2 , pp. 95-121
    • Brenton, P.1    Di Mauro, F.2    Lücke, M.3
  • 11
    • 0038172583 scopus 로고    scopus 로고
    • Foreign direct investment in Europe: Is there redirection from the South to the East?
    • DOI 10.1016/S0147-5967(02)00013-6
    • Buch, C. M.; R. M. Kokta; and D. Piazolo. 2003. "Foreign Direct Investment in Europe: Is There Redirection from the South to the East?" Journal of Comparative Economics 31, no. 1:94-109. (Pubitemid 36703569)
    • (2003) Journal of Comparative Economics , vol.31 , Issue.1 , pp. 94-109
    • Buch, C.M.1    Kokta, R.M.2    Piazolo, D.3
  • 13
    • 49949091364 scopus 로고    scopus 로고
    • The effectiveness of laws against bribery abroad
    • -. Cuervo-Cazurra, A. 2008. "The Effectiveness of Laws Against Bribery Abroad." Journal of International Business Studies 36, no. 6:957-979.
    • (2008) Journal of International Business Studies , vol.36 , Issue.6 , pp. 957-979
    • Cuervo-Cazurra, A.1
  • 14
    • 0042843631 scopus 로고    scopus 로고
    • The role of FDI, R&D accumulation and trade in transfering technology to transition countries: Evidence from firm panel data for eight transition countries
    • DOI 10.1016/S0939-3625(03)00039-6, PII S0939362503000396
    • Damijan, J. P.; B. Majcen; M. Rojec; and M. Knell. 2003. "The Role of FDI, R&D Accumulation and Trade in Transferring Technology to Transition Countries: Evidence from Firm Panel Data for Eight Transition Countries." Economic Systems 27, no. 2:189-204. (Pubitemid 36910231)
    • (2003) Economic Systems , vol.27 , Issue.2 , pp. 189-204
    • Damijan, J.P.1    Knell, M.2    Majcen, B.3    Rojec, M.4
  • 16
    • 3242735857 scopus 로고    scopus 로고
    • How different is Eastern Europe? Structure and determinants of location choices by French firms in Eastern and Western Europe
    • DOI 10.1016/j.jce.2004.02.004, PII S0147596704000198
    • Disdier, A. T., and T. Mayer. 2004. "How Different in Eastern Europe? Structure and Determinants of Location Choice by French Firms in Eastern and Western Europe." Journal of Comparative Economics 32, no. 2:280-296. (Pubitemid 38963387)
    • (2004) Journal of Comparative Economics , vol.32 , Issue.2 , pp. 280-296
    • Disdier, A.-C.1    Mayer, T.2
  • 18
    • 84984729403 scopus 로고
    • The eclectic paradigm of international production: A restatement and some possible extensions
    • -. Dunning, J. H. 1988. "The Eclectic Paradigm of International Production: A Restatement and Some Possible Extensions." Journal of International Business Studies 19, no. 1:1-32.
    • (1988) Journal of International Business Studies , vol.19 , Issue.1 , pp. 1-32
    • Dunning, J.H.1
  • 20
    • 28144446887 scopus 로고    scopus 로고
    • How accounting and auditing systems can counteract risk-shifting and safety-nets in banking: Some international evidence
    • Fernández, A. I., and F. González, F. 2005. "How Accounting and Auditing Systems Can Counteract Risk-Shifting and Safety-Nets in Banking: Some International Evidence." Journal of Financial Stability 1, no. 4:466-500.
    • (2005) Journal of Financial Stability , vol.1 , Issue.4 , pp. 466-500
    • Fernández, A.I.1    González, F.F.2
  • 21
    • 7044247856 scopus 로고    scopus 로고
    • The CEEC as FDI attractors: A menace to the EU periphery?
    • Galego, A.; C. Vieira; and I. Vieira, I. 2004. "The CEEC as FDI Attractors: A Menace to the EU Periphery?" Emerging Markets Finance & Trade 40, no. 5(September-October):74-91. (Pubitemid 39427410)
    • (2004) Emerging Markets Finance and Trade , vol.40 , Issue.5 , pp. 74-91
    • Galego, A.1    Vieira, C.2    Vieira, I.3
  • 22
    • 53149120998 scopus 로고    scopus 로고
    • Risk and the strategy of foreign location choice in regulated industries
    • García-Canal, E., and M. F. Guillén. 2008. "Risk and the Strategy of Foreign Location Choice in Regulated Industries." Strategic Management Journal 29, no. 10:1097-1115.
    • (2008) Strategic Management Journal , vol.29 , Issue.10 , pp. 1097-1115
    • García-Canal, E.1    Guillén, M.F.2
  • 23
    • 34248341078 scopus 로고    scopus 로고
    • Towards a good theory of management
    • ed. J. Birkinshaw and G. Piramal, London: Financial Times/Prentice Hall
    • Ghosal, S., and P. Moran. 2005. "Towards a Good Theory of Management." In Sumantra Ghoshal on Management: A Force for Good, ed. J. Birkinshaw and G. Piramal, pp. 1-27. London: Financial Times/Prentice Hall.
    • (2005) Sumantra Ghoshal on Management: A Force for Good , pp. 1-27
    • Ghosal, S.1    Moran, P.2
  • 26
    • 0038780735 scopus 로고    scopus 로고
    • The power of the Buckley and Casson thesis: The ability to manage institutional idiosyncrasies
    • DOI 10.1057/palgrave.jibs.8400015
    • -. Henisz, W. J. 2003. "The Power of the Buckley and Casson Thesis: The Ability to Manage Institutional Idiosyncrasies." Journal of International Business Studies 34, no. 2:173-184. (Pubitemid 36657261)
    • (2003) Journal of International Business Studies , vol.34 , Issue.2 , pp. 173-184
    • Henisz, W.J.1
  • 27
    • 0036232528 scopus 로고    scopus 로고
    • The institutional environment for infrastructure investment
    • Henisz, W. J., and B. A. Zelner. 2002a. "The Institutional Environment for Infrastructure Investment." Industrial and Corporate Change 11, no. 2:355-389. (Pubitemid 34444144)
    • (2002) Industrial and Corporate Change , vol.11 , Issue.2 , pp. 355-389
    • Henisz, W.J.1
  • 30
    • 12444251929 scopus 로고    scopus 로고
    • Foreign direct investment in southern Africa: Determinants, characteristics and implications for economic growth and poverty alleviation
    • University of Oxford/CREFSA, London School of Economics
    • Jenkins, C., and L. Thomas. 2002. "Foreign Direct Investment in Southern Africa: Determinants, Characteristics and Implications for Economic Growth and Poverty Alleviation. " Working paper, CSAE, University of Oxford/CREFSA, London School of Economics.
    • (2002) Working Paper, CSAE
    • Jenkins, C.1    Thomas, L.2
  • 31
    • 77956916945 scopus 로고    scopus 로고
    • Does political risk affect the scope of expansion abroad? Evidence from Spanish MNEs
    • Jiménez, A. 2010. "Does Political Risk Affect the Scope of Expansion Abroad? Evidence from Spanish MNEs." International Business Review 19, no. 6:619-633.
    • (2010) International Business Review , vol.19 , Issue.6 , pp. 619-633
    • Jiménez, A.1
  • 33
    • 78751669633 scopus 로고    scopus 로고
    • El riesgo político como determinante de la estrategia de localización de las empresas multinacionales españolas
    • Jiménez, A.; J. J. Durán; and J. M. de la Fuente. 2011b. "El riesgo político como determinante de la estrategia de localización de las empresas multinacionales españolas" [Political Risk as a Determinant of the Location Strategy of Spanish Multinational Enterprises]. Revista Europea de Dirección y Economía de la Empresa 20, no. 1:123-142.
    • (2011) Revista Europea de dirección y Economía de la Empresa , vol.20 , Issue.1 , pp. 123-142
    • Jiménez, A.1    Durán, J.J.2    De La Fuente, J.M.3
  • 34
    • 60949110213 scopus 로고    scopus 로고
    • Economic freedom and foreign direct investment in developing countries
    • Kapuria-Foreman, V. 2007. "Economic Freedom and Foreign Direct Investment in Developing Countries." Journal of Developing Areas 41, no. 1:143-154.
    • (2007) Journal of Developing Areas , vol.41 , Issue.1 , pp. 143-154
    • Kapuria-Foreman, V.1
  • 35
    • 0000435961 scopus 로고    scopus 로고
    • Foreign direct investment in economic transition: The changing pattern of investments
    • Lankes, H. P., and A. J. Venables. 1996. "Foreign Direct Investment in Economic Transition: The Changing Pattern of Investment." Economics of Transition 4, no. 2:331-347. (Pubitemid 126602961)
    • (1996) Economics of Transition , vol.4 , Issue.2 , pp. 331-347
    • Lankes, H.-P.1    Venables, A.J.2
  • 36
    • 77954535369 scopus 로고    scopus 로고
    • Inter-and intra-industry linkages as a determinant of FDI in central and eastern Europe
    • Lefilleur, J., and M. Maurel. 2010. "Inter-and Intra-Industry Linkages as a Determinant of FDI in Central and Eastern Europe." Economic Systems 34, no. 3:309-330.
    • (2010) Economic Systems , vol.34 , Issue.3 , pp. 309-330
    • Lefilleur, J.1    Maurel, M.2
  • 37
    • 21844518521 scopus 로고
    • The institutional foundations of regulatory commitment: A comparative analysis of telecommunications regulation
    • Levy, B., and P. T. Spiller. 1994. "The Institutional Foundations of Regulatory Commitment: A Comparative Analysis of Telecommunications Regulation. " Journal of Law, Economics and Organization 10, no. 2:201-246.
    • (1994) Journal of Law, Economics and Organization , vol.10 , Issue.2 , pp. 201-246
    • Levy, B.1    Spiller, P.T.2
  • 38
    • 84984488721 scopus 로고
    • Foreign direct investment in the early years of economic transition: A survey
    • Meyer, K. E. 1995. "Foreign Direct Investment in the Early Years of Economic Transition: A Survey." Economics of Transition 3, no. 3:301-320.
    • (1995) Economics of Transition , vol.3 , Issue.3 , pp. 301-320
    • Meyer, K.E.1
  • 39
    • 0001374405 scopus 로고    scopus 로고
    • Foreign direct investment to Africa: Policies also matter
    • Morisset, P. 2000. "Foreign Direct Investment to Africa: Policies Also Matter." Transnational Corporation 9, no. 2:107-125.
    • (2000) Transnational Corporation , vol.9 , Issue.2 , pp. 107-125
    • Morisset, P.1
  • 40
    • 4344650728 scopus 로고    scopus 로고
    • The effects of policy, institutions and geography on economic growth in Africa: An econometric study based on cross-section and panel data
    • DOI 10.1002/jid.1129
    • Naudé, W. A. 2004. "The Effects of Policy, Institutions and Geography on Economic Growth in Africa: An Econometric Study Based on Cross-Section and Panel Data." Journal of International Development 16, no. 6:821-849. (Pubitemid 39142746)
    • (2004) Journal of International Development , vol.16 , Issue.6 , pp. 821-849
    • Naude, W.A.1
  • 41
    • 34447305450 scopus 로고    scopus 로고
    • Investigating geography and institutions as determinants of foreign direct investment in Africa using panel data
    • DOI 10.1080/00036840600567686, PII 779854589
    • Naudé, W. A., and W. F. Krugell. 2007. "Investigating Geography and Institutions as Determinants of Foreign Direct Investment in Africa Using Panel Data." Applied Economics 39 no. 10:1223-1233. (Pubitemid 47050251)
    • (2007) Applied Economics , vol.39 , Issue.10 , pp. 1223-1233
    • Naude, W.A.1    Krugell, W.F.2
  • 42
    • 0000335439 scopus 로고    scopus 로고
    • Institutional environment and the mechanism of governance: The impact of intellectual property protection on the structure of inter-firm alliance
    • Oxley, J. E. 1999. "Institutional Environment and the Mechanism of Governance: The Impact of Intellectual Property Protection on the Structure of Inter-Firm Alliance." Journal of Economic Behavior and Organization 38, no. 3:283-310.
    • (1999) Journal of Economic Behavior and Organization , vol.38 , Issue.3 , pp. 283-310
    • Oxley, J.E.1
  • 43
    • 34247251343 scopus 로고    scopus 로고
    • Determinants of spanish foreign direct investment in morocco
    • Quer, D., and E. Claver. 2007. "Determinants of Spanish Foreign Direct Investment in Morocco." Emerging Markets Finance & Trade 43, no. 2:19-32.
    • (2007) Emerging Markets Finance & Trade , vol.43 , Issue.2 , pp. 19-32
    • Quer, D.1    Claver, E.2
  • 45
    • 79955937358 scopus 로고    scopus 로고
    • Reforming the legal environment of business in sub-saharan Africa: Moderating effects on foreign direct investment
    • Richards, D. C., and S. Nwankwo. 2005. "Reforming the Legal Environment of Business in Sub-Saharan Africa: Moderating Effects on Foreign Direct Investment." Managerial Law 47, no. 5:154-163.
    • (2005) Managerial Law , vol.47 , Issue.5 , pp. 154-163
    • Richards, D.C.1    Nwankwo, S.2
  • 46
    • 68149179207 scopus 로고    scopus 로고
    • How to do xtabond2: An introduction to difference and system GMM in stata
    • Roodman, D. 2009a. "How to Do xtabond2: An Introduction to Difference and System GMM in Stata." Stata Journal 9, no. 1:86-136.
    • (2009) Stata Journal , vol.9 , Issue.1 , pp. 86-136
    • Roodman, D.1
  • 47
    • 58449116301 scopus 로고    scopus 로고
    • A note on the theme of too many instruments
    • -. Roodman, D. 2009b. "A Note on the Theme of Too Many Instruments." Oxford Bulletin of Economics and Statistics 71, no. 1:135-158.
    • (2009) Oxford Bulletin of Economics and Statistics , vol.71 , Issue.1 , pp. 135-158
    • Roodman, D.1
  • 48
    • 33749563104 scopus 로고    scopus 로고
    • Inward FDI and financial constraints in central and east European countries
    • DOI 10.2753/REE1540-496X420502
    • Rutkowski, A. 2006. "Inward FDI and Financial Constraints in Central and East European Countries." Emerging Markets Finance & Trade 42, no. 5(September-October):28-60. (Pubitemid 44534349)
    • (2006) Emerging Markets Finance and Trade , vol.42 , Issue.5 , pp. 28-60
    • Rutkowski, A.1
  • 50
    • 0011863674 scopus 로고    scopus 로고
    • Composition of foreign direct investment and protection of intellectual property rights: Evidence from transition economies
    • World Bank, Washington, DC
    • Smarzynska, B. K. 2002. "Composition of Foreign Direct Investment and Protection of Intellectual Property Rights: Evidence from Transition Economies." Policy Research Working Paper no. 1786, World Bank, Washington, DC.
    • (2002) Policy Research Working Paper No. 1786
    • Smarzynska, B.K.1
  • 51
    • 80052459270 scopus 로고    scopus 로고
    • United Nations Conference on Trade and Development UNCTAD, Geneva and New York
    • United Nations Conference on Trade and Development (UNCTAD). 2003. World Investment Report. Geneva and New York.
    • (2003) World Investment Report
  • 52
    • 80052515431 scopus 로고    scopus 로고
    • Determinants of foreign direct investment (FDI): Lessons from the African economies
    • Wahid, A. N. M.; R. Sawkut; and B. Seetanah. 2009. "Determinants of Foreign Direct Investment (FDI): Lessons from the African Economies." Journal of Applied Business and Economics 9, no. 1:70-80.
    • (2009) Journal of Applied Business and Economics , vol.9 , Issue.1 , pp. 70-80
    • Wahid, A.N.M.1    Sawkut, R.2    Seetanah, B.3
  • 53
    • 2142660262 scopus 로고    scopus 로고
    • Economic transition and the sectoral patterns of foreign direct investment
    • Walkenhorst, P. 2004. "Economic Transition and the Sectoral Patterns of Foreign Direct Investment." Emerging Markets Finance & Trade 40, no. 2(March-April):5-26. (Pubitemid 38545506)
    • (2004) Emerging Markets Finance and Trade , vol.40 , Issue.2 , pp. 5-26
    • Walkenhorst, P.1
  • 54
    • 13444261211 scopus 로고    scopus 로고
    • Country resource environments, firm capabilities, and corporate diversification strategies
    • Wan, W. P. 2005. "Country Resource Environments, Firm Capabilities, and Corporate Diversification Strategies." Journal of Management Studies 42, no. 2:161-171.
    • (2005) Journal of Management Studies , vol.42 , Issue.2 , pp. 161-171
    • Wan, W.P.1
  • 55
    • 0034387414 scopus 로고    scopus 로고
    • How taxing is corruption on international investors?
    • Wei, S. J. 2000. "How Taxing Is Corruption on International Investors?" Review of Economics and Statistics 82, no. 1:1-11.
    • (2000) Review of Economics and Statistics , vol.82 , Issue.1 , pp. 1-11
    • Wei, S.J.1
  • 56
    • 0027098446 scopus 로고
    • International investment location decisions: The case of US firms
    • DOI 10.1016/0022-1996(92)90050-T
    • Wheeler, D., and A. Mody. 1992. "Institutional Investment Location Decisions: The Case of U. S. Firms." Journal of International Economics 33, no. 1:57-76. (Pubitemid 23365181)
    • (1992) Journal of International Economics , vol.33 , Issue.1-2 , pp. 57-76
    • Wheeler, D.1    Mody, A.2


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.