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Capital account liberalization and financial deepening: Does the private sector matter?
In: The quarterly review of economics and finance, Band 64, S. 141-151
ISSN: 1062-9769
Capital account openness, political institutions and FDI in the MENA region: An empirical investigation
This paper examines how capital account liberalization (CAL) affects Foreign Direct Investment (FDI) inflows. The authors use the System Generalized-Method-of-Moments (GMM) estimator developed for the dynamic panel model for a sample of 17 Middle East and North Africa (MENA) countries from 1985 to 2009. Their findings reveal that the positive impact of CAL on FDI depends on the political stability in a host country. Furthermore, the results show that enhancing democratic institutions, enforcing property rights, reducing the risk of expropriation and religious tension seem to be some of the most promising policies to attract FDI to the region. The authors also find that foreign investors value the quality of institutions more than the level of corruption or bureaucratic quality in the location choice. Their results are robust to using different indicators of institutional quality. The findings are relevant for MENA countries given that many of them have engaged in a process of liberalization and have weak institutions.
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The Impact of South-South Trade Agreements on FDI
In: DIW Berlin Discussion Paper No. 1461
SSRN
Working paper
Institutional Determinants of Financial Development in MENA Countries
In: DIW Berlin Discussion Paper No. 1422
SSRN
Working paper
FDI and Growth in the MENA Countries: Are the GCC Countries Different?
In: African Governance and Development Institute WP/16/015
SSRN
Working paper