Historically,geopolitical risk(GPR)has posed significant challenges to international economic,social,and political frameworks.This study investigated how internal GPR in the selected five Southeast Asian countries(Ind...Historically,geopolitical risk(GPR)has posed significant challenges to international economic,social,and political frameworks.This study investigated how internal GPR in the selected five Southeast Asian countries(Indonesia,South Korea,Malaysia,the Philippines,and Thailand)influences foreign direct investment(FDI)during 1996-2019.The stationarity of the data was assessed using the Augmented Dickey-Fuller(ADF)unit root test,which shows that the data became stationary after the first difference.The Kao,Pedroni,and Westerlund cointegration tests were employed to examine long-term cointegration among the selected variables(FDI,GPR index(GPRI),gross domestic product(GDP),inflation,interest rate,and trade openness(TOP)).The results indicated that these variables have a long-term cointegration.Consequently,regression analysis using the Pooled Ordinary Least Squares(OLS)regression,fixed effect,random effect,Arellano-Bond dynamic panel-data estimation,and system generalized moment method(GMM)revealed that GPRI and TOP negatively impacted FDI in the selected five Southeast Asian countries.At the same time,GDP,inflation,and interest rate positively influenced FDI in these countries.Because FDI is crucial to shaping a country’s macroeconomic structure,this study recommends that governments and central banks of the selected five Southeast Asian countries should implement policies and strategies to encourage foreign investments.展开更多
The energy demand in Australia is increasing with the industrialization and rapid economic growth.This study analyzed the relationships among the economic growth,Foreign Direct Investment(FDI),trade openness,urbanizat...The energy demand in Australia is increasing with the industrialization and rapid economic growth.This study analyzed the relationships among the economic growth,Foreign Direct Investment(FDI),trade openness,urbanization,and energy usage in Australia based on the data from World Development Indicators(WDI)from 1972 to 2021.The results indicates that there is a cointegration among economic growth,FDI,trade openness,urbanization,and energy usage,which was traced through the autoregressivedistributed lag(ARDL).The Zivot-Andrews unit root test reveals that energy usage,economic growth,FDI,urbanization,and trade openness show significant structural breaks in 1993,1996,1982,2008,and 1994,respectively.The ARDL model shows that economic growth has a positive and significant effect on energy usage in the long-run(0.814)and short-run(0.809).Moreover,the results also show that FDI(0.028)and trade openness(0.043)have positive impacts on energy usage in the long-run.However,urbanization shows a negative and significant influence on energy usage in the long-run(–0.965).Then,the research demonstrates a unidirectional causation between energy usage and trade openness,with energy usage significantly causing trade openness.The current study endorses energy consumption policies and investment strategies for a paradigm shifting from a reliance on fossil fuels as the primary energy source to renewable energy sources.These findings have profound implications for sustainable energy usage.展开更多
States have signed over 3,000 bilateral investment treaties （BITs）. BITs stipulate the terms and conditions by which foreign investors from one country must be treated in another. A series of empirical studies have ...States have signed over 3,000 bilateral investment treaties （BITs）. BITs stipulate the terms and conditions by which foreign investors from one country must be treated in another. A series of empirical studies have asked the question, do BITs increase foreign direct investment to less developed countries？ This paper reviews the literature. While the studies come to conflicting results, most studies suffer from the same methodological misstep--they fail to account for variation in treaties. The paper concludes that the most productive path forward for future research efforts includes using dyadic research designs that account for variation in BITs.展开更多
The implementation of China’s open development strategy has unveiled a wave of outward foreign direct investment(OFDI)by Chinese companies,with global implications.Based on panel data from 146 developing countries fr...The implementation of China’s open development strategy has unveiled a wave of outward foreign direct investment(OFDI)by Chinese companies,with global implications.Based on panel data from 146 developing countries from 2003 to 2017,we investigate the growth effects of China’s OFDI.We find that China’s OFDI has promoted significant economic growth in developing countries.Not only could China’s OFDI increase GDP per capita of a country in a short time but raise the country’s long-run equilibrium value as well.In addition,the growth effects of China’s OFDI were more significant for countries with weak governance,rich resource,and modest human capital,and were above the average level for Belt and Road Initiative(BRI)countries,African countries,and in the post-crisis era.Our research helps unravel the global significance of Chinese companies investing overseas and contributes to research on the growth effects of direct investment between developing countries.展开更多
This research explored the impact of foreign direct investments on the Agricultural sector output with emphasis on exports in Zimbabwe from 2000-2017.The study sought to establish whether agriculture could flourish in...This research explored the impact of foreign direct investments on the Agricultural sector output with emphasis on exports in Zimbabwe from 2000-2017.The study sought to establish whether agriculture could flourish in the absence of foreign direct investments.It was also essential to investigate whether the injection of foreign direct investment into the Agriculture sector had a positive or negative impact on the outputs especially agricultural exports.The research used data drawn from a sample of five agricultural products which are tobacco,cotton lint,raw sugar,soya beans,and macadamia nuts.The Ordinary Least Squares and Unit Root tests were used because they assume that FDI can stimulate growth if it brings increasing returns to production and also in the outputs.The research study was a desktop research which used both qualitative and quantitative methods of collecting data.Data were obtained from Zimbabwe Statistics Agency(ZIMSTATS),foreign direct investment figures,and percentages of agricultural investment to total investments were collected from Zimbabwe Investment Authority(ZIA).Questionnaires were also used to obtain data from both those farmers who received and those who did not receive foreign investments as inputs.The results obtained showed that there was a positive relationship which could also be measured by the growth models employed to establish the growth in increased outputs and exports after injecting FDIs into agriculture.Recommendations were made to both farmers and the Ministry of Agriculture to attract more FDIs into Zimbabwe’s Agriculture sector.展开更多
文摘Historically,geopolitical risk(GPR)has posed significant challenges to international economic,social,and political frameworks.This study investigated how internal GPR in the selected five Southeast Asian countries(Indonesia,South Korea,Malaysia,the Philippines,and Thailand)influences foreign direct investment(FDI)during 1996-2019.The stationarity of the data was assessed using the Augmented Dickey-Fuller(ADF)unit root test,which shows that the data became stationary after the first difference.The Kao,Pedroni,and Westerlund cointegration tests were employed to examine long-term cointegration among the selected variables(FDI,GPR index(GPRI),gross domestic product(GDP),inflation,interest rate,and trade openness(TOP)).The results indicated that these variables have a long-term cointegration.Consequently,regression analysis using the Pooled Ordinary Least Squares(OLS)regression,fixed effect,random effect,Arellano-Bond dynamic panel-data estimation,and system generalized moment method(GMM)revealed that GPRI and TOP negatively impacted FDI in the selected five Southeast Asian countries.At the same time,GDP,inflation,and interest rate positively influenced FDI in these countries.Because FDI is crucial to shaping a country’s macroeconomic structure,this study recommends that governments and central banks of the selected five Southeast Asian countries should implement policies and strategies to encourage foreign investments.
文摘The energy demand in Australia is increasing with the industrialization and rapid economic growth.This study analyzed the relationships among the economic growth,Foreign Direct Investment(FDI),trade openness,urbanization,and energy usage in Australia based on the data from World Development Indicators(WDI)from 1972 to 2021.The results indicates that there is a cointegration among economic growth,FDI,trade openness,urbanization,and energy usage,which was traced through the autoregressivedistributed lag(ARDL).The Zivot-Andrews unit root test reveals that energy usage,economic growth,FDI,urbanization,and trade openness show significant structural breaks in 1993,1996,1982,2008,and 1994,respectively.The ARDL model shows that economic growth has a positive and significant effect on energy usage in the long-run(0.814)and short-run(0.809).Moreover,the results also show that FDI(0.028)and trade openness(0.043)have positive impacts on energy usage in the long-run.However,urbanization shows a negative and significant influence on energy usage in the long-run(–0.965).Then,the research demonstrates a unidirectional causation between energy usage and trade openness,with energy usage significantly causing trade openness.The current study endorses energy consumption policies and investment strategies for a paradigm shifting from a reliance on fossil fuels as the primary energy source to renewable energy sources.These findings have profound implications for sustainable energy usage.
文摘States have signed over 3,000 bilateral investment treaties （BITs）. BITs stipulate the terms and conditions by which foreign investors from one country must be treated in another. A series of empirical studies have asked the question, do BITs increase foreign direct investment to less developed countries？ This paper reviews the literature. While the studies come to conflicting results, most studies suffer from the same methodological misstep--they fail to account for variation in treaties. The paper concludes that the most productive path forward for future research efforts includes using dyadic research designs that account for variation in BITs.
基金Key research project of the Shanghai Municipal Education Commission(Grant No.2017-01-07-00-02-E00008).
文摘The implementation of China’s open development strategy has unveiled a wave of outward foreign direct investment(OFDI)by Chinese companies,with global implications.Based on panel data from 146 developing countries from 2003 to 2017,we investigate the growth effects of China’s OFDI.We find that China’s OFDI has promoted significant economic growth in developing countries.Not only could China’s OFDI increase GDP per capita of a country in a short time but raise the country’s long-run equilibrium value as well.In addition,the growth effects of China’s OFDI were more significant for countries with weak governance,rich resource,and modest human capital,and were above the average level for Belt and Road Initiative(BRI)countries,African countries,and in the post-crisis era.Our research helps unravel the global significance of Chinese companies investing overseas and contributes to research on the growth effects of direct investment between developing countries.
文摘This research explored the impact of foreign direct investments on the Agricultural sector output with emphasis on exports in Zimbabwe from 2000-2017.The study sought to establish whether agriculture could flourish in the absence of foreign direct investments.It was also essential to investigate whether the injection of foreign direct investment into the Agriculture sector had a positive or negative impact on the outputs especially agricultural exports.The research used data drawn from a sample of five agricultural products which are tobacco,cotton lint,raw sugar,soya beans,and macadamia nuts.The Ordinary Least Squares and Unit Root tests were used because they assume that FDI can stimulate growth if it brings increasing returns to production and also in the outputs.The research study was a desktop research which used both qualitative and quantitative methods of collecting data.Data were obtained from Zimbabwe Statistics Agency(ZIMSTATS),foreign direct investment figures,and percentages of agricultural investment to total investments were collected from Zimbabwe Investment Authority(ZIA).Questionnaires were also used to obtain data from both those farmers who received and those who did not receive foreign investments as inputs.The results obtained showed that there was a positive relationship which could also be measured by the growth models employed to establish the growth in increased outputs and exports after injecting FDIs into agriculture.Recommendations were made to both farmers and the Ministry of Agriculture to attract more FDIs into Zimbabwe’s Agriculture sector.
