A Study on The Determinants of FDI Inflows in Uzbekistan
A Study on The Determinants of FDI Inflows in Uzbekistan
- 주제(키워드) Business
- 발행기관 아주대학교
- 지도교수 송영균
- 발행년도 2008
- 학위수여년월 2008.12
- 학위명 석사
- 학과 및 전공 국제대학원 국제경영학과
- 실제URI http://www.dcollection.net/handler/ajou/000000009893
- 본문언어 영어
- 저작권 아주대학교 논문은 저작권에 의해 보호받습니다.
초록/요약
ABSTRACT This research attempted to examine the determinants of the FDI inflows in Uzbekistan using time series data based on post independence performance. Method of study was chosen as regression analysis, as it helps to identify the most influential variables as well as shows the strength of the influence. Dependant variable was chosen as one lead FDI inflows in Uzbekistan on a yearly basis. Set of variables was used as suggested by the economic theory and previous studies. Results suggest that GDP per capita, PPP conversion rate, trade openness and dummy for internal instability are significant factors explaining FDI inflows. GDP per capita and dummy for internal instability were found to be most influential. Based on findings set of recommendations was developed stressing on trade, regional cooperation, improvement of institutions etc. Keywords: foreign direct investment, transition economies, Uzbekistan
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CONTENTS
ABSTRACT i
ACKNOWLEDGMENT ii
LIST OF TABLES v
LIST OF FIGURES vi
LIST OF ABBREVIATIONS vii
CHAPTER 1. INTRODUCTION 1
CHAPTER 2. REVIEW OF RELATED LITERATURE 6
2.1 Theories of FDI 6
2.2. Previous studies and empirical results 9
CHAPTER 3. DATA AND ECONOMETRIC MODEL 13
3.1 Regression Variables 13
3.2 Data 15
3.3 Regression model 18
3.4 Limitations of the model 18
CHAPTER 4. RESULTS AND DISCUSSION 19
4.1 Results presentation 19
4.2 Discussion of the results 22
CHAPTER 5. CONCLUSION AND RECOMMENDATIONS 23
BIBLIOGRAPHY 25
APPENDIX 1. METHODOLOGY OF THE INWARD FDI PERFORMANCE and POTENTIAL INDEXES 27
APPENDIX 2. INSTABILITY DUMMY 29
APPENDIX 3. PLOTS OF THE REGRESSION RESULTS. 31
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LIST OF TABLES
Table 1. FDI inflows 2004-2007 to selected regions, UNCTAD (million USD) 1
Table 2 FDI stock in selected regions, UNCTAD (million USD) 2
Table 3 Company’s operation choice matrix based on OLI framework 7
Table 4 FDI one year lead data (million USD) 15
Table 5 GDP per capita data 1991-2007 years (USD) 16
Table 6 Purchasing power parity conversion rate data 1991-2007 years 17
Table 7 Trade openness index data 1991-2007 years 17
Table 8 Dummy data 18
Table 9 Descriptive Statistics 19
Table 10 Correlation matrix 19
Table 11 Model Summaryb 20
Table 12 Lower and Upper limits for Durbin Watson statistic 20
Table 13 Coefficientsa 21
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LIST OF FIGURES
Figure 1 FDI inflows to Uzbekistan during 1991-2007 years, UNCTAD 2
Figure 2 Performance and Potential of Inward FDI in Selected Countries 2004-2006, UNCTAD 3
Figure 3 Performance Potential Matrix, UNCTAD 4
Figure 4 Uzbekistan real GDP growth rates compared to CIS and all transition economies 1996-2007, IMF 4
Figure 5 FDI one year lead data 15
Figure 6 GDP per capita 1991-2007 years 16
Figure 7 Purchasing power parity conversion rate 1991-2007 years 16
Figure 8 Trade openness index 1991-2007 years 17
