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001-es BibID:	BIBFORM077520
035-os BibID:	(cikkazonosító)1950006
Első szerző:	Bíró Flóra Panna
Cím:	The effect of governance on foreign direct investment in Latin America : issues of model selection / Flóra Panna Bíró, László Erdey, József Gáll, Ádám Márkus
Dátum:	2019
ISSN:	1524-5861
Megjegyzések:	This paper examines the impact of good governance on foreign direct investment in the Latin American countries. Even though the FDI inflows are high in the region that can be explained by the level of development of the target countries, their connections with developed countries and the available natural resources only a few papers have examined what kind of other factors make these countries more attractive for foreign investments. This study has two main goals. First, the gravity model is used to show whether the quality of governance measured by any of the World Governance Indicators affects the inward FDI in Latin America. Second, following the recent trend in the gravity literature the performance of different OLS specifications are supervised and compared to the superior PPML estimator first suggested by Santos Silva and Tenreyro (2006). Results according to the most efficient estimation show that good governance is mostly a factor of attractiveness but its significance depends on which indicator is used to proxy it. Our analysis also demonstrates that using a truncation on the sample or manipulating the data by adding a small number to the dependent variable makes the OLS estimates extremely sensitive and yields biased, inconsistent, and inefficient results. Thus we argue that the PPML method should be preferred not just in trade but also in FDI gravity models.
Tárgyszavak:	Társadalomtudományok Közgazdaságtudományok idegen nyelvű folyóiratközlemény külföldi lapban FDI governance WGI gravity equation PPML
Megjelenés:	Global Economy Journal. - 19 : 01 (2019), p. 1-19. -
További szerzők:	Erdey László (1971-) (közgazdász) Gáll József (1972-) (matematikus, közgazdász) Márkus Ádám (1988-) (közgazdász)
Internet cím:	Intézményi repozitóriumban (DEA) tárolt változat DOI
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