{"title":"东盟外商直接投资的决定因素:来自金融一体化因素的新证据","authors":"Ho Thanh Tri, V. T. Nga, V.H.T. Duong","doi":"10.15208/BEH.2019.18","DOIUrl":null,"url":null,"abstract":"This paper examines the impact of financial integration and other variables on foreign direct investment capital inflows in ASEAN3 (Cambodia, Laos, and Vietnam) and ASEAN5 (Indonesia, Malaysia, Philippines, Thailand, Singapore). Other variables are the gross domestic product, interest rate, infrastructure facility, labor cost, and trade openness. This paper uses the panel ordinary least square estimation with the method of first differencing for the period between 1996 and 2016. The authors divide ASEAN member countries into two groups by the level of economic development. The findings indicate that the coefficient of financial integration is positive and significant at 1 % level of significance on foreign direct investment capital inflows. The empirical results also support the hypothesis that foreign direct investment in ASEAN is positively correlated to market size, infrastructure facilities, and negatively correlated to labor cost as well as trade openness in ASEAN3.","PeriodicalId":43750,"journal":{"name":"Business and Economic Horizons","volume":null,"pages":null},"PeriodicalIF":0.0000,"publicationDate":"2019-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"5","resultStr":"{\"title\":\"The determinants of foreign direct investment in ASEAN: New evidence from financial integration factor\",\"authors\":\"Ho Thanh Tri, V. T. Nga, V.H.T. Duong\",\"doi\":\"10.15208/BEH.2019.18\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"This paper examines the impact of financial integration and other variables on foreign direct investment capital inflows in ASEAN3 (Cambodia, Laos, and Vietnam) and ASEAN5 (Indonesia, Malaysia, Philippines, Thailand, Singapore). Other variables are the gross domestic product, interest rate, infrastructure facility, labor cost, and trade openness. This paper uses the panel ordinary least square estimation with the method of first differencing for the period between 1996 and 2016. The authors divide ASEAN member countries into two groups by the level of economic development. The findings indicate that the coefficient of financial integration is positive and significant at 1 % level of significance on foreign direct investment capital inflows. The empirical results also support the hypothesis that foreign direct investment in ASEAN is positively correlated to market size, infrastructure facilities, and negatively correlated to labor cost as well as trade openness in ASEAN3.\",\"PeriodicalId\":43750,\"journal\":{\"name\":\"Business and Economic Horizons\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2019-01-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"5\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Business and Economic Horizons\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.15208/BEH.2019.18\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Business and Economic Horizons","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.15208/BEH.2019.18","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
The determinants of foreign direct investment in ASEAN: New evidence from financial integration factor
This paper examines the impact of financial integration and other variables on foreign direct investment capital inflows in ASEAN3 (Cambodia, Laos, and Vietnam) and ASEAN5 (Indonesia, Malaysia, Philippines, Thailand, Singapore). Other variables are the gross domestic product, interest rate, infrastructure facility, labor cost, and trade openness. This paper uses the panel ordinary least square estimation with the method of first differencing for the period between 1996 and 2016. The authors divide ASEAN member countries into two groups by the level of economic development. The findings indicate that the coefficient of financial integration is positive and significant at 1 % level of significance on foreign direct investment capital inflows. The empirical results also support the hypothesis that foreign direct investment in ASEAN is positively correlated to market size, infrastructure facilities, and negatively correlated to labor cost as well as trade openness in ASEAN3.
期刊介绍：
The Business and Economic Horizons (BEH) is an international peer-reviewed journal that publishes high quality theoretical, empirical, and review papers covering the broad spectrum of research in areas of economics, business, management, and finance. The journal aim is to bridge the gap between the theory and the observed data in these constantly developing domains. BEH Editorial Board welcomes the high-quality original research articles and review papers that verify the well-grounded and the emerging theories by employing the econometric, statistical methods or other relevant empirical methods in theoretical and applied economic analysis. BEH does not discriminate articles utilizing the non-mainstream approaches such as experimental research, institutional analysis, other variations of heterodox and developmental economic studies. Therefore, the submissions in any field of micro- and macroeconomics, business ethics, economic policy or finance are appropriate for this journal. We hope, the provided contributions will help to understand the contemporary challenges faced by the private and public sector and will establish an international forum of empirical research.
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