外文翻译--外商直接投资与制度环境--在转型经济体中的作用研究.docVIP

本科毕业论文外文翻译 外文题目：Foreign Direct Investment and Institutional Environment in Transition Economies 出 处:Transition Studies Review 作 者：Andrej Sujan Foreign Direct Investment and Institutional Environment in Transition Economies Andrej Su?jan ABSTRACT We analysed the relation between foreign direct investment and the quality of the institutional environment in transition economies. The analysis confirmed a significant impact of various institutional aspects on the inflow of foreign capital. To isolate the importance of the institutional environment from the impact of other factors, a panel data analysis was performed using the data of 24 transition economies in the period 1995–2002. The results showed that in the observed period the quality of the institutional environment significantly influenced the level of foreign direct investment in transition economies. Other variables that proved to have a statistically significant influence were budget deficit, insider privatization, and labour cost per hour. Introduction Foreign direct investment (FDI) is widely believed to make major contributions to the economic development of emerging markets. On the other hand, FDI is also of crucial importance to multinational firms. Thus, both the developed and the developing economies have a common interest in encouraging FDI flows, although their targets vary (Resmini 2000, Estrin and Meyer 2004): positive externalities of FDI are important for host economies, while profits and corporate growth are a typical target of globally oriented companies. A positive impact of FDI on economic growth has been confirmed by a number of studies (e.g., Lunn 1980, Schneider and Frey 1985, Carkovic and Levine 2002). FDI contributes to economic growth through several channels. First, it is expected to be growth enhancing through capital accumulation more inputs are incorporated into production (Buckley et al