期刊
ECONOMIC CHANGE AND RESTRUCTURING
卷 55, 期 4, 页码 2111-2136出版社
SPRINGER
DOI: 10.1007/s10644-021-09378-w
关键词
Global uncertainty; Economic governance institutions; Foreign direct investment; System GMM; Africa
类别
This study investigates the impacts of global uncertainty and economic governance institutions on FDI inflow to Africa. The results show that global uncertainty has a significant dampening effect on FDI inflow to Africa, and economic governance institutions amplify this effect. Natural resource endowment, market size, and initial FDI inflows are identified as robust drivers of FDI inflows to Africa.
Based on the fact that Africa has not fared well in attracting foreign direct investments in the last decade compared to other regions of the world, especially during periods of high uncertainty occasioned by one crisis or the other, this study investigated: the impacts of global uncertainty and economic governance institutions on FDI inflow to Africa; the moderating effect of economic governance institutions on global uncertainty-FDI relationship in Africa; and other significant drivers of FDI inflow to Africa. The study used the system GMM modeling framework and a panel of 46 African economies over the period 2010-2019. The results indicate that global uncertainty has a significant dampening effect on FDI inflow to Africa, and economic governance institutions on the continent amplify this effect rather than mitigate it. The results further indicate that natural resource endowment, market size, and initial FDI inflows are robust drivers of FDI inflows to Africa, while the roles of financial development and trade openness remained muted. Overall, the study concludes that policymakers in Africa should take urgent steps to strengthen the quality of economic governance institutions as a means of mitigating the excruciating effect of global uncertainty on FDI inflows to Africa.
作者
我是这篇论文的作者
点击您的名字以认领此论文并将其添加到您的个人资料中。
推荐
暂无数据