产业集聚和外商直接投资区位选择：关于匈牙利外商直接投资的研究外文原文.pdfVIP

Economics of Transition Volume 13 (4) 2005, 605–628 © The European Bank for Reconstruction and Development, 2005.A BThe Economics of TransitionOriginal Article0967-0750if knownECOTgglomerationoudier-Bensebaa Economies and Location Choice Oxford, UKBlackwell Publishing, Ltd. Agglomeration economies and location choice Foreign direct investment in Hungary1 Fabienne Boudier-Bensebaa University of Paris XII – Val de Marne, ERUDITE, 61, avenue du Général de Gaulle – 94010 Créteil cedex, France. E-mail: boudier@univ-paris12.fr Abstract Since the beginning of the transition process, Hungary has attracted a significant amount of foreign direct investment (FDI), although this is unevenly distributed among the twenty Hungarian counties. This paper examines the determinants of FDI at a regional level in Hungary and more particularly assesses the importance of agglomeration effects among determinants. A panel model of the location deter- minants of FDI in Hungary is developed and estimated. Empirical testing suggests that counties with higher labour availability, greater industrial demand and higher manufacturing density attract more FDI. Surprisingly, higher unit labour costs attract FDI. In addition, inter-industrial agglomeration economies and infrastructure availability are found to be important. JEL classifications: C23, F21, F23, O18, R12. Keywords: Agglomeration economies, foreign direct investment, panel estimation, regional location, transition. 1 The author is grateful to both anonymous referees for their perceptive and constructive comments and suggestions on the first draft of this paper. Thanks also to A.-G. Bonlarron, who provided valuable research assistance. The author is also indebted to P. Blanchard and J. Lochard for helpful econometrical discussions. © The European Bank for Reconstruction and Developme