The determinants of Foreign Direct Investment: Do statutory restrictions matter?
Over the past two decades, governments worldwide have continued to liberalise restrictions on international investment with only occasional relapses. Yet, FDI liberalisation remains an unfinished agenda in various parts of the world and across sectors. This paper sheds light on their potential costs...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2019
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| Schriftenreihe: | OECD Working Papers on International Investment
no.2019/01 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | Over the past two decades, governments worldwide have continued to liberalise restrictions on international investment with only occasional relapses. Yet, FDI liberalisation remains an unfinished agenda in various parts of the world and across sectors. This paper sheds light on their potential costs in terms of foregone investments. Applying an augmented gravity model, covering 60 advanced and emerging countries over the period 1997-2016, it estimates the elasticity of bilateral FDI positions and cross-border M&A activity to FDI restrictions as measured by the OECD FDI Regulatory Restrictiveness Index. Results suggest that reforms liberalising FDI restrictions by about 10% as measured by the Index could increase bilateral FDI in stocks by 2.1% on average. Effects are greater for FDI in the services sector, but even manufacturing sectors - which are typically open to FDI - are negatively affected by countries' overall restrictiveness. Foreign equity limitations and FDI screening policies are also scrutinised. |
| Beschreibung: | 1 Online-Ressource (56 p.) |
| DOI: | 10.1787/641507ce-en |
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| spelling | Mistura, Fernando VerfasserIn aut The determinants of Foreign Direct Investment Do statutory restrictions matter? Fernando, Mistura and Caroline, Roulet Paris OECD Publishing 2019 1 Online-Ressource (56 p.) Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Working Papers on International Investment no.2019/01 Over the past two decades, governments worldwide have continued to liberalise restrictions on international investment with only occasional relapses. Yet, FDI liberalisation remains an unfinished agenda in various parts of the world and across sectors. This paper sheds light on their potential costs in terms of foregone investments. Applying an augmented gravity model, covering 60 advanced and emerging countries over the period 1997-2016, it estimates the elasticity of bilateral FDI positions and cross-border M&A activity to FDI restrictions as measured by the OECD FDI Regulatory Restrictiveness Index. Results suggest that reforms liberalising FDI restrictions by about 10% as measured by the Index could increase bilateral FDI in stocks by 2.1% on average. Effects are greater for FDI in the services sector, but even manufacturing sectors - which are typically open to FDI - are negatively affected by countries' overall restrictiveness. Foreign equity limitations and FDI screening policies are also scrutinised. Finance and Investment Roulet, Caroline MitwirkendeR ctb FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/641507ce-en Volltext |
| spellingShingle | Mistura, Fernando The determinants of Foreign Direct Investment Do statutory restrictions matter? Finance and Investment |
| title | The determinants of Foreign Direct Investment Do statutory restrictions matter? |
| title_auth | The determinants of Foreign Direct Investment Do statutory restrictions matter? |
| title_exact_search | The determinants of Foreign Direct Investment Do statutory restrictions matter? |
| title_full | The determinants of Foreign Direct Investment Do statutory restrictions matter? Fernando, Mistura and Caroline, Roulet |
| title_fullStr | The determinants of Foreign Direct Investment Do statutory restrictions matter? Fernando, Mistura and Caroline, Roulet |
| title_full_unstemmed | The determinants of Foreign Direct Investment Do statutory restrictions matter? Fernando, Mistura and Caroline, Roulet |
| title_short | The determinants of Foreign Direct Investment |
| title_sort | determinants of foreign direct investment do statutory restrictions matter |
| title_sub | Do statutory restrictions matter? |
| topic | Finance and Investment |
| topic_facet | Finance and Investment |
| url | https://doi.org/10.1787/641507ce-en |
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