fdi在发展中国家的决定因素分析外文翻译(编辑修改稿)

fdi在发展中国家的决定因素分析外文翻译(编辑修改稿)内容摘要：

ture has developed various hypotheses that explain why FDI may potentially enhance the growth rate of per capita ine in the host country (Calvo and Robles, 2020). However, the endogenous growth theory, which dispenses with the assumption of perfect petition, leaves more scope for the impact of FDI on growth. In this theoretical framework, investment, including FDI, affects the rate of growth through research and development (Ramp。 D) or through its impact on human capital. Even if the return on investment is declining, FDI may influence growth through externalities. Particularly, FDI displaces domestic savings (Papanek, 1973。 Cohen, 1993。 Reinhart and Talvi, 1998). In a seminal paper, Papanek (1973) showed the significant negative impacts of different types of capital on national savings. Based on a sample of 85 developing countries, Papanek found that foreign capital displaced domestic savings. Specifically, he showed that foreign aid, private investment and other capital crowded out national savings, and a reduction in domestic savings could lead to further increase on the dependency on foreign capital (Baharumshah and Thanoon, 2020). Another determinant, tariffs, has a positive effect on FDI if they are bined with the growth rate and openness, but they produce a negative effect when bined with wages. The real exchange rate produces a positive effect when it is bined with openness, domestic investment and government consumption. When domestic investment is excluded, the effect bees negative. This supports the argument that an efficient environment that es with more openness to trade is likely to attract foreign firms. This conclusion is also supported by Asiedu (2020) and Edwards (1990). In this model, investment tax and wages have a negative impact on FDI, while infrastructure and market size have a significantly positive impact on FDI. Generally, only in the case of export oriented FDI, cheap labor in terms of lower wages works as an incentive (Wheeler and Mody, 1992). On the other hand Tomiura39。 (2020) study confirms that the positive association between FDI and Ramp。 D is robust even if firms undertaking no FDI and/or no Ramp。 D are included. In this respect, Morck and Yeung (1991) hypothesize and provide evidence that FDI creates wealth when an expanding firm possesses intangible assets, such as superior production and management skills, marketing expertise, patents and consumer goodwill. definition The indicators tested in this study are selected on the basis of FDI theories and previous empirical literature. The indicators tested in the panel study and crosssection SUR, are the FDI determinants for which the data have been found for developing countries for at least 30 years. Data sets related to a number of developing countries are sometimes discontinuous for some variables (. not available for all 30 years). For that reason while defining the main determinants of FDI in this study, 24 developing countries for which uninterrupted data sets for 30 years at some variables could be used Developing countries list is reported in the Appendix. Hence, the forecasts related to main determinants of FDI in this study were obtained under these constraints. At the same time, some variables referred as FDI determinants by UNCTAC and used in literature were used in the same sampling. Panel data techniques has been used to estimate the FDI equations because of their advantages over crosssection and time series in using all the information available, wh。