scholarly journals Globalisation, Trade Openness and Foreign Direct Investment in Romania

2016 ◽  
Vol 26 (4) ◽  
pp. 41-53 ◽  
Author(s):  
Stela Dima
Keyword(s):  
Foreign Direct Investment ◽  
Regression Analysis ◽  
World Bank ◽  
Direct Investment ◽  
Multivariate Regression ◽  
Trade Openness ◽  
Multivariate Regression Analysis ◽  
The Other ◽  
Foreign Direct Investments ◽  
Market Capitalisation

Abstract The paper analyses the trend of globalisation, trade openness and foreign direct investments (FDI) in Romania and the link between them in the last 25 years. Data from UNCTAD, World Bank and KOF globalisation index were used in econometrical models testing the link between globalisation, trade openness and foreign direct investment. A strong positive and statistical validated link is found between globalisation and FDI, between trade openness and FDI, and between FDI and globalisation. In the context of Romanian economy, these three phenomena are interrelated and each of them is acting to potentiate the effect of the other. Moreover, a multivariate regression analysis emphasized the dependency between globalisation index and foreign direct investment, trade openness and market capitalisation. These results can be taken into account when national policies aiming to attract FDI and stimulating export-import activities are designed.

scholarly journals Causal Links between Trade Openness and Foreign Direct Investment in Romania

2021 ◽  
Vol 14 (3) ◽  
pp. 90
Author(s):  
Malsha Mayoshi Rathnayaka Mudiyanselage ◽  
Gheorghe Epuran ◽  
Bianca Tescașiu
Keyword(s):  
Foreign Direct Investment ◽  
Direct Investment ◽  
Trade Openness ◽  
Test Procedure ◽  
Real Effective Exchange Rate ◽  
Foreign Direct Investments ◽  
Causality Test ◽  
Fdi Inflows ◽  
Distributed Lag ◽  
Long Run

In this increasingly globalized era, foreign direct investments are considered to be one of the most important sources of external financing for all countries. This paper investigates the causal relationship between trade openness and foreign direct investment (FDI) inflows in Romania during the period 1997–2019. Throughout this study, Trade Openness is the main independent variable, and Gross Domestic Product (GDP), Real Effective Exchange Rate (EXR), Inflation (INF), and Education (EDU) act as control variables for investigating the relationships between trade openness (TOP) and FDI inflow in Romania. The Auto Regressive Distributed Lag (ARDL) Bounds test procedure was adopted to achieve the above-mentioned objective. Trade openness has negative and statistically significant long-run and short-run relationships with FDI inflows in Romania throughout the period. Trade openness negatively affects the FDI inflow, which suggest that the higher the level of openness is, the less likely it is that FDI will be attracted in the long run. The result of the Granger causality test indicated that Romania has a unidirectional relationship between trade openness and FDI. It also showed that the direction of causality ran from FDI to trade openness.

Arterial stiffness could reflect increased cardiac load and reduced pulmonary function in the general population

2020 ◽  
Vol 41 (Supplement_2) ◽  
Author(s):  
S Murai ◽  
T Sugiura ◽  
Y Dohi ◽  
H Takase ◽  
T Mizoguchi ◽  
...  
Keyword(s):  
Regression Analysis ◽  
General Population ◽  
Arterial Stiffness ◽  
Pulmonary Function ◽  
Multivariate Regression ◽  
Troponin I ◽  
Augmentation Index ◽  
Smoking Status ◽  
Multivariate Regression Analysis ◽  
The Other

Abstract Background Pulmonary function is known to decrease with age and reduced pulmonary function has been reported to be associated with all-cause mortality and cardiovascular death. The association between pulmonary impairment and atherosclerosis was reported previously but has not been investigated sufficiently in the general population. Purpose We hypothesized that arterial stiffness could reflect increase of cardiac load and reduced pulmonary function. The present study aimed to investigate whether increased cardiac load and reduced pulmonary function could affect arterial stiffness in the general population. Methods Subjects undergoing their health check-up were enrolled. Plasma B-type natriuretic peptide (BNP) levels and serum high-sensitivity cardiac troponin I (hs-cTnI) levels were measured to evaluate cardiac load and myocardial damage. Radial augmentation index (rAI) was measured to investigate arterial stiffness using HEM-9000AI device. Subjects with an ST-T segment abnormality on the electrocardiogram, renal insufficiency, cancer, active inflammatory disease, or a history of cardiovascular events and pulmonary disease were excluded. Pulmonary function was assessed using spirometry by calculating forced vital capacity (FVC) as a percentage of predicted value (FVC%-predicted), forced expiratory volume in 1 second (FEV1) as a percentage of predicted value (FEV1%-predicted), and the ratio of FEV1 to FVC (FEV1/FVC). Results A total of 1100 subjects aged 57 years were enrolled and their median values of BNP and hs-cTnI were 15.5 and 2.3 pg/ml. The levels of rAI were significantly associated with the levels of BNP after adjustment for possible confounders in multivariate regression analysis, but were not with the levels of hs-TnI. While the parameters of pulmonary function were inversely associated with the levels of rAI and hs-cTnI after adjustment for possible confounders in the multivariate regression analysis, but not with the levels of BNP. The other multivariate regression analyses where BNP, hs-cTnI, parameters of pulmonary function, and the other possible factors were simultaneously included as independent variables revealed that the BNP levels and the FVC%-predicted or FEV1%-predicted, besides age, gender, smoking status, body mass index, blood pressure, heart rate, creatinine, fasting plasma glucose, and triglyceride, were significantly associated with the levels of rAI. Conclusions The significant associations of rAI with BNP and pulmonary function were revealed in the general population. These findings support that arterial stiffness could reflect increased cardiac load and reduced pulmonary function, in apparently healthy individuals. Funding Acknowledgement Type of funding source: None

scholarly journals Determinants of Venture Capital Supply in Sub-Saharan Africa

2017 ◽  
Vol 9 (4(J)) ◽  
pp. 87-97
Author(s):  
Olabanji Oni
Keyword(s):  
Foreign Direct Investment ◽  
Venture Capital ◽  
Initial Public Offering ◽  
Unemployment Rate ◽  
Direct Investment ◽  
Trade Openness ◽  
Sub Saharan Africa ◽  
African Countries ◽  
Public Offering ◽  
Market Capitalisation

The purpose of this paper is to determine the variables that influence venture capital supply in Sub-Sahara Africa. The study developed econometric models and examined a 10-year period (2006 to 2015) pertaining to eight (8) Sub-Sahara African countries namely: Botswana, Ivory Coast, Ghana, Kenya, Mauritius, Nigeria, South Africa and Uganda. The empirical model includes six determinants (initial public offering, market capitalisation, unemployment rate, foreign direct investment inflow, inflation rate and trade openness). Secondary data was utilised for the study. The primary sources of data were the World Bank Development indicators and Preqin data base. All the statistical analyses in the study were performed using E-views version 8. Panel data models of pooled, fixed and random effects were employed. The results suggest that there is a significant positive relationship between initial public offering, market capitalisation and venture capital supply. Second, there is no significant relationship between unemployment rate, foreign direct investment inflows, trade openness and venture capital supply. Based on the empirical findings, this study recommends that Sub-Sahara African governments should attempt to develop their economies by improving infrastructure and corporate governance. There is also a need for African countries to develop the equity market.

scholarly journals Economic Freedom, Macroeconomic Fundamentals and Foreign Direct Investment in Fast Emerging Brics and Malaysia

2013 ◽  
Author(s):  
Catherina S.F. Ho ◽  
Noryati Ahmad ◽  
Hayati Mohd Dahan
Keyword(s):  
Foreign Direct Investment ◽  
Direct Investment ◽  
Economic Freedom ◽  
Trade Openness ◽  
Emerging Countries ◽  
Policy Implications ◽  
Foreign Direct Investments ◽  
Critical Factors ◽  
Major Factors ◽  
Country Specific

This study investigates the major factors that determine the inflow of foreign direct investment (FDI) into fast emerging countries: Brazil, China, India, Russia, South Africa (BRICS) and Malaysia. Two sets of factors are identified: macroeconomic and country specific fundamentals. The period of analysis is 1977-2010. The study provides empirical evidence that economic growth, government consumption and trade openness are vital for FDI. In addition, country specific infrastructure quality and economic freedom are also critical factors in determining FDI for this group of countries. Our findings have significant policy implications for the growth and development of these countries, particularly through foreign direct investments.  

scholarly journals The Influences of FDI, GFCF, OPEN on Vietnamese Economic Growth

2021 ◽  
Vol 12 (3) ◽  
pp. 1-13
Author(s):  
Toan Duc Le ◽  
Phu Huu Nguyen ◽  
Yen Thi Phi Ho ◽  
Thuyen Ngoc Nguyen
Keyword(s):  
Economic Growth ◽  
Foreign Direct Investment ◽  
World Bank ◽  
Direct Investment ◽  
Trade Openness ◽  
Capital Formation ◽  
Fixed Capital ◽  
Annual Data ◽  
Fixed Capital Formation ◽  
Short Run

The aim of study is to research the influences of Foreign Direct Investment (FDI), Gross Fixed Capital Formation (GFCF), Trade Openness of the Economy (OPEN) on Vietnam economic growth. This study uses the annual data for the period 1986 to 2019, obtained from World Bank and Vietnam General Statistics Office. The study shows that FDI, GFCF and OPEN together influence to Vietnam economic growth in the period 1986 – 2019 at significant level of 5%; in which the FDI and GFCF determinants have influenced greatly. In the short–run, the results indicate that there are bidirectional causality relationships running between FDI and GDP, OPEN and GDP, OPEN and GFCF, and there are undirectional causality relationships running from GDP to GFCF, from GFCF to FDI, from FDI to OPEN. The study’s results confirm that FDI as more reliable and less violate source of capital and can extend the Vietnam economic growth. According to the study’s results, the authors suggest some recommendations to increase the Vietnam economic growth.

scholarly journals Determinants of Foreign Direct Investment in the Middle East Region: An Empirical Analysis

2017 ◽  
Vol 13 (11) ◽  
pp. 47 ◽  
Author(s):  
Munir Hassan
Keyword(s):  
Foreign Direct Investment ◽  
Middle East ◽  
World Bank ◽  
Direct Investment ◽  
Econometric Model ◽  
Trade Openness ◽  
Fdi Inflows ◽  
East Region ◽  
The World Bank ◽  
Middle East Region

The objective of the present study is to examine the Foreign Direct Investment (FDI) inflows in the Middle East region, and it also attempts to identify the potential determinants for the investment inflows. With this purpose taking assistance of public database such as the World Bank (WB), and the United Nations Conference on Trade and Development (UNCTAD) a panel econometric model has been specified and tested for a sample of 09countries over a period of 35 years (1981-2015). The result of the study shows Purchasing Power, Human Capital and Trade Openness as the key determinants of Inward FDI inflows for the growth and development of the Middle East region.

scholarly journals Studying Determinants of Foreign Direct Investment in Nigeria: An Empirical Investigation

2020 ◽  
pp. 73-84
Author(s):  
Ibeinmo Friday Cookey ◽  
Francis Ariayefa Eniekezimene
Keyword(s):  
Foreign Direct Investment ◽  
Exchange Rate ◽  
Interest Rate ◽  
Direct Investment ◽  
Inflation Rate ◽  
Trade Openness ◽  
The Other ◽  
Annual Data ◽  
Other Hand ◽  
Determinants Of Fdi

This research paper investigated the determinants of foreign direct investment inflow into the Nigerian economy. This is because Nigeria at present is still characterized by low economic growth, which has created other macro-economic problems like inflation, low export, unemployment, unfavorable exchange rate, balance of payment disequilibrium, etc. The study adopted the Autoregressive Distributed Lag (ARDL/Bounds testing) econometric tool to examine the determinants of foreign direct investment (FDI) in the Nigerian economy. Data for the analysis are annual data covering the period 1981-2019, obtained from the Central Bank of Nigeria (CBN) Statistical Bulletin several issues. The study used inflation rate (INFR), interest rate (INTR), exchange rate (EXR) and trade openness (TOPN) as independent variables. While foreign Direct Investment (FDI) was used as the dependent variable. The result indicates that exchange rate (EXR) and trade openness (TOPN) are all positive determinants of FDI in the Nigerian economy as their corresponding coefficients are positive. The result further shows that for the Nigerian economy to attract FDI significantly by one percent, exchange rate and trade openness will increase by 0.18 and 5.00 percent respectively. On the other hand, inflation rate (INFR), and interest rate (INTR) are negative determinants of foreign direct investment in Nigeria. Meaning that, an attempt to increase either of these variables would result to a decline in foreign direct investment in the country and vice versa. We therefore conclude that both EXR and TOPN had a positive and significant impact on the FDI inflow to the Nigerian economy, and are therefore adjudged positive determinants of FDI inflow into the Nigerian economy within the period 1981-2019. INFR and INTR on the other hand maintained their negative influence on FDI inflow to the Nigerian Economy, hence, are negative determinants of FDI inflow into the Nigerian economy within the period 1981-2019. Finally, we recommend that government should sustain its drive for import substitutions which will encourage export, expand its bilateral trade ties with developed economies so as to woo FDI inflows. Also, government through it monetary authorities should reduce inflation and interest rates. This will help to woo FDI inflow into the Nigerian economy.

The Effect of Foreign Direct Investment on the Economic Development of Mongolia

2018 ◽  
Vol 16 (3) ◽  
pp. 12-21 ◽  
Author(s):  
Erdenebat Mungunzul ◽  
Taikoo Chang
Keyword(s):  
Economic Development ◽  
Foreign Direct Investment ◽  
Regression Analysis ◽  
Panel Data ◽  
Direct Investment ◽  
Fixed Effects ◽  
Trade Openness ◽  
Fixed Effects Models ◽  
Study Results ◽  
The World

This article describes how foreign direct investment in Mongolia has reached 3.9 billion US$ mainly in the mining sector that amounted approximately 40% of the year's GDP. Even though FDI into Mongolia has been grown along with the country's economic development with trade openness to the world, a few studies have used regression analysis to analyze determinant factors of FDI. This article has estimated the determinants attracting FDI inflow into Mongolia by using two methods: applying single country (Mongolia) data using the determinants attracting FDI inflow into Mongolia from 1995-2014, and applying the determinants attracting FDI from the top investment countries using panel data, using random and fixed effects models from 2005-2013. The study results showed that GDP of Mongolia has a positive and significant effect on the FDI inflow. It was also revealed that the partner countries located either too far away from or too close to Mongolia pay little attention to and play a small investment role in Mongolian FDI.

scholarly journals The Influences of FDI, GFCF, OPEN on Vietnam Economic Growth

2021 ◽  
Vol 12 (3) ◽  
pp. 0-0
Keyword(s):  
Economic Growth ◽  
Foreign Direct Investment ◽  
World Bank ◽  
Direct Investment ◽  
Trade Openness ◽  
Capital Formation ◽  
Fixed Capital ◽  
Annual Data ◽  
Fixed Capital Formation ◽  
Short Run

The aim of study is to research the influences of Foreign Direct Investment (FDI), Gross Fixed Capital Formation (GFCF), Trade Openness of the Economy (OPEN) on Vietnam economic growth. This study uses the annual data for the period 1986 to 2019, obtained from World Bank and Vietnam General Statistics Office. The study shows that FDI, GFCF and OPEN together influence to Vietnam economic growth in the period 1986 – 2019 at significant level of 5%; in which the FDI and GFCF determinants have influenced greatly. In the short–run, the results indicate that there are bidirectional causality relationships running between FDI and GDP, OPEN and GDP, OPEN and GFCF, and there are undirectional causality relationships running from GDP to GFCF, from GFCF to FDI, from FDI to OPEN. The study’s results confirm that FDI as more reliable and less violate source of capital and can extend the Vietnam economic growth. According to the study’s results, the authors suggest some recommendations to increase the Vietnam economic growth.

scholarly journals Determinants of Venture Capital Supply in Sub-Saharan Africa

2017 ◽  
Vol 9 (4) ◽  
pp. 87
Author(s):  
Olabanji Oni
Keyword(s):  
Foreign Direct Investment ◽  
Venture Capital ◽  
Initial Public Offering ◽  
Unemployment Rate ◽  
Direct Investment ◽  
Trade Openness ◽  
Sub Saharan Africa ◽  
African Countries ◽  
Public Offering ◽  
Market Capitalisation

The purpose of this paper is to determine the variables that influence venture capital supply in Sub-Sahara Africa. The study developed econometric models and examined a 10-year period (2006 to 2015) pertaining to eight (8) Sub-Sahara African countries namely: Botswana, Ivory Coast, Ghana, Kenya, Mauritius, Nigeria, South Africa and Uganda. The empirical model includes six determinants (initial public offering, market capitalisation, unemployment rate, foreign direct investment inflow, inflation rate and trade openness). Secondary data was utilised for the study. The primary sources of data were the World Bank Development indicators and Preqin data base. All the statistical analyses in the study were performed using E-views version 8. Panel data models of pooled, fixed and random effects were employed. The results suggest that there is a significant positive relationship between initial public offering, market capitalisation and venture capital supply. Second, there is no significant relationship between unemployment rate, foreign direct investment inflows, trade openness and venture capital supply. Based on the empirical findings, this study recommends that Sub-Sahara African governments should attempt to develop their economies by improving infrastructure and corporate governance. There is also a need for African countries to develop the equity market.

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