Foreign Direct Investment: A Key Player in Cameroon’s Economic Recovery, 1993-2003
- 발행기관 Graduate School of Interantional Studies Ajou University
- 지도교수 Kim, Soo Keun
- 발행년도 2005
- 학위수여년월 2005. 8
- 학위명 석사
- 학과 및 전공 국제대학원 국제경영학과
- 본문언어 영어
초록/요약
FDI has attracted a lot of attention from developing countries because of the perceived advantages in terms of capital injection, technology transfer and economic growth. This dissertation examines the inflow of FDI to a developing country, Cameroon, between 1993 and 2003 and the contribution it made to the country’s economic growth, leading to its recovery from an economic crisis that started in 1986. FDI contribution was studied first, from the level of inflow from some selected countries and second, from macroeconomic and micro economic perspectives. While it was discovered that at the macroeconomic level a large flow of FDI did not have a large positive impact on the economy, at the microeconomic level, its contribution to some industries was very significant. Thus, the conclusion was drawn that FDI did play a key role in the economic recovery drive of Cameroon between 1993 and 2003, the period within which the country embarked on a serious recovery program. The disparity between the two economic levels study was due mainly to the lack of an appropriate data collection agency and method.
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Table of Content
Dedication = ⅲ
Acknowledgement = ⅳ
Abstract = ⅵ
Chapter One. Introduction = 1
1.1 Significance of the Study = 1
1.2 Statement of the Problem = 1
1.3 Aims and Objectives = 3
1.4 Methodology and Limitations = 3
Chapter Two. Theoretical background = 5
2.1 Concept of FDI = 5
2.2 FDI Theories = 6
2.2.1 International Trade Theory and the Factors-proportions Theory = 7
2.2.2 Direct Investment Theories = 7
2.2.3 Oligopoly Model = 8
2.2.4 Theory of Country Size = 9
2.2.5 Product Life Cycle Theory = 9
2.3 Corporate Motives for FDI = 9
2.3.1 Sales Expansion = 10
2.3.2 Resource Acquisition = 10
2.3.3 Minimization of Competitive Risk = 10
2.4 Approaches to FDI = 11
2.4.1 Direct Investment = 11
2.4.2 Joint Venture = 11
2.4.3 Mixed Venture = 11
2.5 National Controls of FDI = 12
2.5.1 Control by Investor or Home-based Countries = 12
2.5.1.1 Incentives Controls = 12
2.5.1.1.1 Foreign Risk Insurance = 12
2.5.1.1.2 Capital Assistance = 13
2.5.1.1.3 Development Assistance = 13
2.5.1.1.4 Investment Promotion = 13
2.5.1.1.5 Tax Incentives = 13
2.5.1.1.6 Political Representation = 14
2.5.1.2 Restraining Controls = 14
2.5.2 Control by Host Countries = 15
2.5.2.1 Incentives Control = 15
2.5.2.1.1 Tariff Protection = 16
2.5.2.1.2 Duty-free Imports = 16
2.5.2.1.3 Financial Assistance = 16
2.5.2.1.4 Tax Concessions = 16
2.5.2.1.5 Foreign Exchange Guarantee = 16
2.5.2.1.6 Other Government Assistance = 16
2.5.2.2 Restraining Control = 17
2.6 International Control of FDI = 17
2.6.1 The Association of South East Asian Nations (ASEAN) Investment Agreement = 18
2.6.2 North American Free Trade Agreement (NAFTA) = 19
2.6.3 Infrastructure Treaties = 19
2.7 Relationship between FDI and Economic Development = 20
2.7.1 Technology Spillovers = 21
2.7.2 MNC Linkages = 22
2.7.3 Economic growth = 23
Chapter Three: Cameroon’s Economic Structure = 24
3.1 Country Location = 24
3.2 Country Profile = 25
3.3 Strengths and Weaknesses of the Economy = 26
3.4 Economic Structure = 28
3.5 The Investment Environment = 32
3.5.1 Openness to FDI = 32
3.5.2 Conversion and Transfer Policies = 34
3.5.3 Expropriation and Compensation = 35
3.5.4 Dispute Settlement = 35
3.5.5 Investment Requirements and Incentives = 36
3.5.6 Taxation = 38
3.5.7 Ownership and Protection of Property Rights = 38
3.5.8 The Regulatory System = 39
3.5.9 Capital Markets = 39
3.5.10 Labor = 39
3.5.11 Industrial Free Zone = 40
3.5.12: Corruption = 40
Chapter Four: Discussion - FDI in Cameroon = 41
4.1 Economic Crisis and the Advent of FDI in Cameroon = 41
4.2 Time Frame = 42
4.3 Stronger Incentives = 43
4.4 FDI Inflow = 44
4.5 FDI Inflow to Cameroon According to Countries = 46
4.5.1 France = 46
4.5.2 USA = 46
4.5.3 Other Countries = 47
4.6 Macro Economic Effects of FDI = 47
4.6.1 GDP and Capital Formation = 48
4.6.2 Employment = 49
4.6.3 Relationship between FDI and economic growth = 50
4.7 Microeconomic contributions of FDI = 51
4.7.1 Petroleum = 52
4.7.2 Telecommunications = 53
4.7.3 Electricity = 54
4.7.4 Banking = 54
4.7.5 Others = 55
4.8 Problems of FDI in Cameroon = 56
4.8.1 Labor = 56
4.8.2 Social Amenities = 56
4.8.3 Non-respect of terms of entry = 56
4.8.4 Corruption = 57
Chapter Five: Conclusion = 58
