Corruption Distance and Foreign Direct Investment: Evidence from European Transition Economies

• Název práce v češtině: Distance vůči korupci a přímé zahraniční investice: případ evropských tranzitivních ekonomik
• Název v anglickém jazyce: Corruption Distance and Foreign Direct Investment: Evidence from European Transition Economies
• Klíčová slova: Korupční vzdálenost, PZI, Gravitační Model, Heterogenní Firmy, Evropské Transformační Ekonomiky
• Klíčová slova anglicky: Corruption Distance, FDI, Gravity Model, Heterogeneous Firms, European Transition Economies
• Akademický rok vypsání: 2017/2018
• Typ práce: diplomová práce
• Jazyk práce: angličtina
• Ústav: Katedra ruských a východoevropských studií (23-KRVS)
• Vedoucí / školitel: Mgr. Michal Paulus
• Řešitel: skrytý - zadáno vedoucím/školitelem
• Datum přihlášení: 22.05.2018
• Datum zadání: 22.05.2018
• Datum a čas obhajoby: 17.06.2019 09:30
• Místo konání obhajoby: Jinonice - U Kříže 8, Praha 5, J2066, Jinonice - místn. č. 2066
• Datum odevzdání elektronické podoby: 17.05.2019
• Datum proběhlé obhajoby: 17.06.2019
• Oponenti: Randolph Luca Bruno, Ph.D.

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Předběžná náplň práce

Tato disertační práce navazuje na studii Cezara a Escobara (2015) o vztahu mezi institucionální vzdáleností a přímými zahraničními investicemi (PZI), ale místo toho se zaměřuje na spojitost mezi korupční vzdáleností a přímými zahraničními investicemi. Tato disertační práce v rámci své studie využívá dvoustupňového gravitačního modelu odvozeného z rámce heterogenních firem k empirickému odhadu dopadu korupční vzdálenosti na vnitřní a vnější přímé zahraniční investice evropských transformujících se ekonomik. Tato práce přispívá k dosud existující literature v několika aspektech. Nejprve navrhuje novou metodu měření vzdálenosti korupce s ohledem na důležitost předchozích zkušeností firem s rozvojem potřebných dovedností pro orientaci v zahraničním podnikatelském prostředí. Za druhé, empirická studie odlišila dopad korupční vzdálenosti na rozsáhlé a intenzivní rozpětí pomocí bohaté datové sady se třemi různými indexy korupce, což se liší od většiny předchozích studií na toto téma. Je to také jeden z mála článků, které toto téma konkrétně studují v kontextu evropských transformujících se ekonomik. Výsledky ukazují, že jak konvenční, tak upravená vzdálenost korupce založená na kontrole indexu nadměrných investic korupce snižuje pouze rozsáhlé rozpětí přímých zahraničních investic tranzitivních ekonomik; a že velikost okrajových efektů u vzorku je menší při použití upravené verze. Na druhé straně jsou výsledky také závislé na původním zdroji indexu korupce, který slouží k určení vzdálenosti korupce. Tato disertační práce proto ukazuje, že stávající empirické studie na toto téma nejsou zdaleka robustní, pokud uvažujeme o zdroji a měření vzdálenosti korupce v literatuře.

Předběžná náplň práce v anglickém jazyce

This dissertation builds on Cezar and Escobar’s (2015) study of the relationship between institutional distance and foreign direct investment (FDI), but focuses instead on the nexus between corruption distance and FDI. Along the lines of their study, this dissertation uses a two-stage gravity model derived from the framework of heterogeneous firms to empirically estimate the impact of corruption distance on the inward and outward FDI of European transition economies. This dissertation contributes to the literature in several aspects. First, it proposes a new method for measuring corruption distance, considering the importance of firms’ previous experience to the development of necessary skills for navigating a foreign business environment. Second, the empirical study distinguished the impact of corruption distance on the extensive and intensive margin by using a rich dataset with three different corruption indices, which thereby differs from most previous studies on this topic. This is also one of the few papers that specifically study this topic in the context of European transition economies. The results show that both conventional and adjusted corruption distance based on the control-of-corruption index only reduces the extensive margin of transition economies’ FDI; and that the magnitude of marginal effects at the sample means is smaller when using the adjusted version. On the other hand, the results are also dependent on the original source of the corruption index used to determine corruption distance. Therefore, this dissertation indicates that the existing empirical studies on this topic are far from robust when considering the source and measurement of corruption distance in the literature.