scholarly journals Do Foreign Investors Crowd Out or Crowd In Domestic Investment? A Panel Analysis for OECD Countries

2017 ◽  
Author(s):  
Burçak Polat
Keyword(s):  
Oecd Countries ◽  
Panel Analysis ◽  
Domestic Investment ◽  
Foreign Investors ◽  
Crowd Out

scholarly journals Triangular Trajectory of Sustainable Development: Panel Analysis of the OECD Countries

2021 ◽  
Vol 18 (5) ◽  
pp. 2374
Author(s):  
Taewook Huh ◽  
Yun Young Kim
Keyword(s):  
Sustainable Development ◽  
Co2 Emissions ◽  
Positive Impact ◽  
Oecd Countries ◽  
Development Economic ◽  
Ecological Modernization ◽  
Panel Analysis ◽  
Social Variables ◽  
Renewable Electricity ◽  
Social Expenditure

This study analyzes how the three pillars of sustainable development (economic growth, social justice, and environmental protection) have influenced each other for the past twenty-six years (from 1987 to 2013). The relationship between the triangular pillar of SD can be characterized by “ecological modernization”, “eco-socialism”, and the traditional debate between growth and distribution. This paper examined the correlation analysis of the nine representative variables in the three categories, adopting the cases of twenty-six OECD countries. In particular, the panel analysis (PCSE models) was conducted to identify the seven independent determinants affecting both response (dependent) variables and environmental factors (“CO2 emissions” and “renewable electricity output”). In short, during the entire period, the findings reveal that all economic and social variables did not have a positive impact on reducing CO2 emissions. However, the variables of “employment in industry” and “social expenditure” are effected by the increase of renewable electricity output. Consequently, highlighting the detailed findings different for each set period (1987–2013, 1987–2002, and 2003–2013), this study suggests the implications of the analysis result in the light of the theories of ecological modernization and eco-socialism.

DO DEFENCE EXPENDITURES SPUR GDP? A PANEL ANALYSIS FROM OECD AND NON‐OECD COUNTRIES

2007 ◽  
Vol 18 (3) ◽  
pp. 265-280 ◽  
Author(s):  
Chien‐Chiang Lee ◽  
Sheng‐Tung Chen
Keyword(s):  
Oecd Countries ◽  
Panel Analysis

scholarly journals Portfolio investment as a factor for the development of the Russian economy as one of the BRIC countries

2017 ◽  
pp. 116-133
Author(s):  
Magdalena Broszkiewicz
Keyword(s):  
Financial Markets ◽  
First Century ◽  
Portfolio Investment ◽  
Domestic Investment ◽  
Financial Flows ◽  
Foreign Investors ◽  
Bric Countries ◽  
Russian Economy ◽  
Twenty First Century ◽  
Portfolio Investments

Portfolio investments have an impact on the development of financial markets around the world, especially in countries of growing importance for the global economy. Russia is one of the countries which are mainly linked to the energy and raw materials sector, so at a time of fluctuations on those markets, its economy is less predictible for international investors. The regulations for investors in this country (also non-residents) need to be improved to overcome the negative effects of world financial crisises and to rebuild financial markets. Russia is also an economy with large amounts of capital to invest, so it is interesting to observe its financial flows to other countries in the situation when existing regulations are stopping capital for domestic investment. The following article analyzes the flows of portfolio investment in Russia in the twenty-first century based on balance of payments data in conjunction with changes in the geopolitical situation and the investment attractiveness of the country. Capital invested in the form of portfolio investments is fragile and often short-term, and it is most vulnerable to periods of recession, causing rapid changes in the flow of this kind of capital. These relationships can be clearly observed in Russia. The strong interest of foreign investors in the Russian economy, in the form of direct and portfolio investments, started in 2000 and lasted until 2006. In the first half of 2008, decreases were slow compared to the record high of the previous year, but from September they accelerated to such an extent that by the end of the year they had reached almost 100%, depicting a sharp decline of foreign investors’ interest in the Russian securities market. This translated into a decline on the Russian stock market. The Russian economy since the beginning of the twenty-first century has experienced a significant influx of foreign capital, including in the form of portfolio investment. However, in comparison with the possibilities of the development of the economic potential of Russia, it is still a small amount.

Capital flows and domestic investment: new evidence from OPEC countries

2019 ◽  
Vol 11 (4) ◽  
pp. 505-532
Author(s):  
Oyakhilome Ibhagui ◽  
Kolawole Olawole
Keyword(s):  
Emerging Markets ◽  
Capital Flows ◽  
Economic Benefits ◽  
Sub Saharan Africa ◽  
Domestic Investment ◽  
Content Type ◽  
Distributed Lag ◽  
Crowd Out ◽  
Economic Bloc ◽  
The Impact

Purpose In the past few decades, there have been phenomenal increases in capital flows to developing and emerging markets. However, a key question that has largely remained unanswered is whether the expected economic benefits have materialized. Existing studies have concentrated on the impact of capital flows on domestic investment in developing countries, emerging markets, transition economies, ECOWAS and sub-Saharan Africa, leaving an important economic bloc, OPEC. This paper aims to assess the impact of capital flows on domestic investment in OPEC countries – with a view to determining whether capital flows crowd in or crowd out domestic investment. Design/methodology/approach For the empirical analysis, the authors used the autoregressive distributed lag (ARDL) technique. Findings The empirical results provide evidence that capital flows crowd out domestic investment in all the OPEC countries considered, except for Angola and Kuwait. The authors further extended the analysis to disaggregated capital flows (FDI, portfolio investment). Evidence from the different capital flows components revealed that, for most countries, the different capital flows components also crowd out domestic investment. Originality/value To the best of the author’s knowledge, no study has empirically addressed the effect of capital flows on domestic investment in OPEC countries. This study, therefore, constitutes an interesting empirical contribution and a novel idea in the literature.

Reforms, Exchange Rates and Monetary Commitment: A Panel Analysis for OECD Countries

2007 ◽  
Vol 18 (3) ◽  
pp. 369-388 ◽  
Author(s):  
Ansgar Belke ◽  
Bernhard Herz ◽  
Lukas Vogel
Keyword(s):  
Exchange Rates ◽  
Oecd Countries ◽  
Panel Analysis
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