Bilateral Investment Treaties and Foreign Direct Investment

• 발행기관: People & Global Business Association
• 저자명: Byung S Min Sudesh Mujumdar Jong C Rhim
• 간행물 정보: 『Global Business and Finance Review』Vol.16 No.1, 75~87쪽, 전체 13쪽
• 주제분류: 경제경영 > 경영학
• 파일형태: PDF
• 발행일자: 2011.06.30

영문 초록

This paper investigates the relationship between bilateral investment treaties (BITs) and foreign direct investment (FDI) inflows using random coefficient panel models, and accounting for the regime shift that occurred with the 1997 Asian Financial Crisis. The estimation results reveal that BITs have a strong positive impact on FDI inflows for the pre-1997 era. However, the strength of this positive impact diminishes as more BITs are concluded, implying that each additional BIT yields a relatively smaller FDI-payoff. No statistically significant impact of BITs on FDI inflows is found for the period following the Asian Financial Crisis, implying a decline in their relative importance in attracting FDI. Further, BITs do not have a stronger impact on FDI inflows for developing countries in comparison to developed countries.

목차

Abstract

Ⅰ. Introduction

Ⅱ. Model

Ⅲ. Description of Data

Ⅳ. Estimation Results

Ⅴ. Summary and Conclusions

References