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Foreign Direct Investment and Structural Reforms: Evidence from Eastern Europe and Latin America
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Author/Editor: |
Campos, Nauro F. | Kinoshita, Yuko |
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January 1, 2008 |
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Electronic Access: |
Free Full Text (PDF file size is 464KB)
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.
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Summary: This paper investigates the role of structural reforms -financial reforms, trade liberalization, and privatization- as determinants of FDI inflows based on newly constructed dataset on structural reforms for 19 Latin American and 25 Eastern European countries between 1989 and 2004. Our main finding is a strong empirical relationship from reforms to FDI, in particular, from financial liberalization and privatization. These results are robust to different measures of reforms, split samples, and potential endogeneity and omitted variables biases.
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Series: |
Working Paper No. 08/26 |
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Subject(s): |
Foreign direct investment | Central and Eastern Europe | Latin America | Trade liberalization | Privatization |
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Author's keyword(s): |
Financial reform | privatization | trade liberalization | foreign direct investment | Latin America | transition economies |
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Published: |
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January 1, 2008 |
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Format: |
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Paper |
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Stock No: |
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WPIEA2008026 |
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Pages: |
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38 |
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Price: |
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US$18.00
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