Investigating the Factors Affecting Foreign Direct Investment Involvement with Emphasis on Institutional and Structural Variables in OPEC Selected Countries

Subject Areas :

Azin Sadat Ostadramezan ¹ (کارشناس ارشد توسعۀ اقتصادی و برنامه‌ریزی، ایران)
Maryam Bazraei ² (کارشناس ارشد علوم اقتصادی، ایران،)
Mojtaba Karimi ³ (دانشجوی دکتری مالی، ایران،)

Received: 2017-09-16 Accepted : 2017-12-30 Published : 2017-11-22

Keywords: Good governance, Foreign Direct Investment, Natural Resources, Economic Freedom,

Abstract :

In the new literature, the role of institution quality in economic development has been considered. The distribution of foreign direct investment, as well as how it is absorbed and its impact on the economies of the countries is strongly influenced by the quality of institutions and the economic, political and host country's position. In the present article, the impact of institutional and structural variables on attracting foreign direct investment in the selected OPEC member countries is conducted using the Generalized Torque (GMM) dynamic panel method from 1998 to 2012. The results indicate a positive and significant effect of good governance and natural resources on attracting foreign direct investment. Also, the results of the model's estimation show that natural resources have a dominant influence on the relationship between direct governance and foreign direct investment; in other words, due to the impact of natural resources, good governance in selected OPEC countries does not facilitate the flow of direct foreign investment, but rather Reducing the attraction of foreign direct investment also

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