The effects of IMF programs on U.S. foreign direct investment in the developing world

Biglaiser, Glen; DeRouen, Karl

doi:10.1007/s11558-009-9071-8

Cited by 54 publications

(38 citation statements)

References 59 publications

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“…Conditions are usually attached to the aid given to developing nations with some of them aimed at improving the economic and financial conditions of the recipient country. Research from [34] was carried out on 126 developing nations and found that overall IMF involvement in a certain country tends to encourage FDI from the United States of America. However, the amount of FDI flows into a host country depends on the specific IMF program taken.…”

Section: Literature Reviewmentioning

confidence: 99%

The Determinants of Foreign Direct Investment in the African Union

Kariuki¹

2015

JOEBM

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Abstract-This paper will examine the factors that influence foreign direct investment (FDI) flows into African countries. FDI flows are important for African nations as they promote economic development. Estimation results using the Least Squares Dummy Variable model also known as the fixed effects model indicate that i) a high economic risk has a negative and significant effect on FDI flows into Africa ii) both political risk and financial risk have a negative but insignificant impact on FDI inflows iii) there is a positive and significant relationship between the commodity price index performance and FDI inflows iv) the good performance of stock markets in developed countries has a positive and significant impact on FDI inflows v) an increase in the infrastructure of a country has a positive and significant effect on FDI inflows vi) an increase in openness to trade has a positive and significant effect on FDI inflows vii) the amount of FDI received in the previous year by African countries is significant in influencing the FDI flows that come into the African continent in the current year. Annual data from 1984 until 2010 using 35 African countries is used for this panel study.Index Terms-Africa, foreign direct investment, long term capital movements, panel data.

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Section: Literature Reviewmentioning

confidence: 99%

The Determinants of Foreign Direct Investment in the African Union

Kariuki¹

2015

JOEBM

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“…13 For further details regarding problems related to Heckman-models without exclusion restrictions see Puhani (2000). 14 Alternatively, economic variables such as GDP, budget balance, inflation (Biglaiser and DeRouen 2010) …”

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confidence: 99%

The Economics of the Democratic Deficit: The Effect of IMF Programs on Inequality

Lang

2016

SSRN Journal

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. www.econstor.eu Terms of use: Documents in

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“…Indeed, as we note in our theoretical discussion of political mandates, financial markets tend to impose pressures on developing countries to support more open markets. We control for IMF conditionality with a dummy variable for countries currently under an IMF extended fund facility or stand-by agreement, as these arrangements come with strict loan conditions (Biglaiser and DeRouen 2010). Additionally, global capital mobility can affect neoliberal economic policies.…”

Section: Methodsmentioning

confidence: 99%

Political Mandate and Clarity of Responsibility: Economic Policies under Rightist Governments in Latin America

Biglaiser

McGauvran

2022

Lat. American Res. Rev.

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Since the mid-1990s, some rightist governments in Latin America have adhered to a strict market orientation while others have shown less attachment to doctrinaire neoliberal policies, a puzzle as rightists are expected to favor minimal government intervention in the economy. In an environment over the past two decades in which market-oriented policies, in general, have grown increasingly unpopular with many Latin Americans, we contend that rightists have less political cover to endorse neoliberal policies. Using panel data for eighteen Latin American countries from 1995 to 2015, we find that, because of the clarity of responsibility that occurs under political mandates and the unpopularity of market reforms, mandate-holding rightist governments will tend to go against their ideological preferences and decrease neoliberal policies. Our findings indicate that as presidential vote margins increase and responsibility for unpopular economic policies becomes clearer, rightist executives will be less willing to support such policies, but only to a point. The results suggest that clarity of responsibility can influence presidential decision-making concerning unpopular policies, especially microeconomic policies, but this influence diminishes as presidents become more electorally secure.A partir de mediados de la década de los 90, algunos gobiernos latinoamericanos de derecha han adoptado políticas estrictas de apertura comercial, mientras que otros se han mostrado más alejados de adoptar políticas neoliberales. Esto es un elemento relevante de análisis ya que se espera que los gobiernos de derecha estén en contra de la intervención del gobierno en la economía. Usando una base de datos panel sobre 18 países latinoamericanos para el periodo de 1995 a 2015, encontramos que los gobiernos de derecha actúan en contra de sus preferencias ideológicas disminuyendo políticas neoliberales por dos razones: la claridad que los mandatarios tienen sobre sus responsabilidades y la impopularidad de las reformas de libre mercado en Latinoamérica. Nuestros hallazgos indican que, si el margen de votos en las elecciones presidenciales incrementa y el sentido de responsabilidad sobre la adopción de políticas económicas impopulares es claro, los gobernantes de derecha estarán menos dispuestos a adoptar este tipo de políticas de libre mercado.Since the late 1990s, many studies have investigated the economic policies of leftist governments in Latin America.

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The effects of IMF programs on U.S. foreign direct investment in the developing world

Abstract: IMF, PRGF, SBA, EFF, U.S. Foreign Direct Investment, Catalytic finance, Developing World, F33, F35, P16, P45,

Cited by 54 publications

References 59 publications

The Determinants of Foreign Direct Investment in the African Union

The Determinants of Foreign Direct Investment in the African Union

The Economics of the Democratic Deficit: The Effect of IMF Programs on Inequality

Political Mandate and Clarity of Responsibility: Economic Policies under Rightist Governments in Latin America

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