Determinants of FDI inflows: Aggregate versus country-specific evidence from ASEAN-6

نویسندگان

چکیده

This paper seeks to explore the determinants of foreign direct investment (FDI) inflows into six countries Association Southeast Asian Nations (ASEAN), namely Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam, from 1995 2019. Estimations for aggregate model are conducted with Driscoll–Kraay standard errors panel regression approach, while country-specific analyses based on fully modified ordinary least squares (FMOLS) approach. At level, gross domestic product (GDP) growth, trade openness, unemployment, working-age population interest rate spread main drivers FDI ASEAN-6, per capita GDP, real global financial crisis have no significant impact. The empirical analysis specific-country cases yields mixed results, implying that international corporations may various criteria evaluate before making decisions depending development stage host country. Our research findings offer several implications policymakers attract quality FDI: (i) fostering liberalization through taking down barriers tariffs across nations; (ii) enhancing capacity labor force management policy renovations; (iii) stabilizing rates monetary ensure macroeconomic stability.

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ژورنال

عنوان ژورنال: The economics and finance letters

سال: 2023

ISSN: ['2312-430X', '2312-6310']

DOI: https://doi.org/10.18488/29.v10i1.3319