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001-es BibID:	BIBFORM098140
Első szerző:	Bíró Flóra Panna
Cím:	The effect of governance on foreign direct investment in Latin America / Biró Flóra Panna, Márkus Ádám, Erdey László
Dátum:	2016
Megjelenés:	München : University Library of Munich, 2016
Terjedelem:	26 p.
Megjegyzések:	(MPRA Paper ; No. 80025.)
Tárgyszavak:	Társadalomtudományok Gazdálkodás- és szervezéstudományok kutatási jelentés könyv
További szerzők:	Márkus Ádám (1988-) (közgazdász) Erdey László (1971-) (közgazdász) MPRA Paper (Munich Personal RePEc Archive)
Internet cím:	Szerző által megadott URL Intézményi repozitóriumban (DEA) tárolt változat
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001-es BibID:	BIBFORM079334
035-os BibID:	(MPRA)80025
Első szerző:	Bíró Flóra Panna
Cím:	A kormányzás hatása a közvetlen külföldi tőkebefektetésekre Latin-Amerikában = The effect of governance on foreign direct investment in Latin America / Bíró Flóra Panna, Erdey László, Márkus Ádám
Dátum:	2016
Megjelenés:	Munich : University Library of Munich, 2016
Terjedelem:	27 p.
Megjegyzések:	This paper examines the impact of good governance on foreign direct investment in Latin American countries. According to the available literature the relation is generally positive i.e. good governance makes a country attractive. The relation is not obvious in case of Latin America and other developing countries as researchers found contradictory results. I was expecting a positive relation between the Worldwide Governance Indicators and FDI regarding the source countries, and opposite relation in case of the target countries. In theory it can be explained why high levels of corruption make the target country either more or less attractive. In order to have accurate results it is recommended to do the research for certain country groups. The study covers 18 Latin-American target countries, and 29 source countries that have been chosen from the largest investors in the World. Even though the FDI inflow is high - that can be explained by the level of development in the target countries, their connections with developed countries and the available natural resources - only a few papers have examined what determines capital flows in these countries. The time interval of the analysis is also an important factor in this case, as determinants of capital flows in the end of the 20th century differ from those of the beginning of the 21st century. The aim of my research is to find out whether these results contradicting most of the theory and empirical analysis still prevail in the region. This paper provides an explanation for these opposite findings, by focusing on previous studies with special attention to the relation between corruption and FDI. The gravity model was used for the empirical analysis, which is also a new approach to study FDI. WGI were included into the model as well, along with the basic explanatory variables of the equation. Separate tests were made for each governance indicator to avoid multicollinearity, and several model specifications and panel estimations were compared. Results according to the best model show that good governance is not always significant but mostly a factor of attractiveness.
Tárgyszavak:	Társadalomtudományok Közgazdaságtudományok kutatási jelentés governance FDI gravity model PPML WGI
További szerzők:	Erdey László (1971-) (közgazdász) Márkus Ádám (1988-) (közgazdász)
Internet cím:	Szerző által megadott URL Intézményi repozitóriumban (DEA) tárolt változat
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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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