动荡时期新兴经济体外国直接投资的宏观经济决定因素--以 COVID'19 大流行病为例

IF 1.6 Q3 BUSINESS Transnational Corporations Review Pub Date : 2024-07-11 DOI:10.1016/j.tncr.2024.200079
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引用次数: 0

摘要

本研究以 COVID'19 大流行为案例,调查了动荡时期新兴经济体外国直接投资(FDI)的宏观经济决定因素。实证调查包括十五(15)个国家,调查时间跨度为 2019q1-2023q2 年,分析框架为 Wang 和 Wong(2007 年)模型。借助各种数据稳定性检验,采用面板系统广义矩法作为分析技术,以获得最佳识别解,并解决估计中固有的内生性和异质性问题。为稳健起见,将样本分解为两个;分别是历史上外国直接投资接收量较高和较低的新兴经济体。所得结果显示了宏观经济决定因素对这些分解的敏感性,而且这些变量的滞后对应变量发挥了重要作用。结果进一步表明,在外国直接投资接收量高的新兴经济体中,外国直接投资是实际国内生产总值的替代品。
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Macroeconomic determinants of foreign direct investment in emerging economies in turbulent times – A case of COVID’19 pandemic

The study investigates the macroeconomic determinants of foreign direct investment (FDI) in emerging economies in turbulent times, taking the case of COVID’19 pandemic. Fifteen (15) countries were included for empirical investigations and the period of investigation spans 2019q1–2023q2 and the analytical framework is the Wang and Wong (2007) model. With recourse to various data stability tests, the panel system generalized method of moment is adopted as the technique of analysis to obtain optimal identification solution and address inherent problems of endogeneity and heterogeneity in estimations. For robustness, the sample was decomposed into two; emerging economies with history of high and low FDI receipts respectively. The results obtained show the sensitivity of macroeconomic determinants to these disaggregation and that lag counterparts of these variables play significant roles. The results further suggests that FDI is a substitute for real gross domestic product in emerging economies with history of high FDI receipts.

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来源期刊
CiteScore
5.20
自引率
5.70%
发文量
37
期刊最新文献
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