Foreign Direct Investment in Mongolia – Its determining factors and policies
Název práce v češtině: | |
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Název v anglickém jazyce: | Foreign Direct Investment in Mongolia – Its determining factors and policies |
Klíčová slova: | PZI, přírodní zdroje, politiky |
Klíčová slova anglicky: | FDI, natural resources, policies |
Akademický rok vypsání: | 2011/2012 |
Typ práce: | bakalářská práce |
Jazyk práce: | angličtina |
Ústav: | Institut ekonomických studií (23-IES) |
Vedoucí / školitel: | doc. Ing. Vladimír Benáček, CSc. |
Řešitel: | skrytý![]() |
Datum přihlášení: | 29.02.2012 |
Datum zadání: | 29.02.2012 |
Datum a čas obhajoby: | 12.09.2012 00:00 |
Místo konání obhajoby: | IES |
Datum odevzdání elektronické podoby: | 31.07.2012 |
Datum proběhlé obhajoby: | 12.09.2012 |
Oponenti: | Mgr. Lyudmyla Stakhovych |
Zásady pro vypracování |
Pečlivě. |
Seznam odborné literatury |
Robert Devlin & Graciela Mogulliansky (2011): Breeding Latin American Tigers. Operational
principles for rehabilitating industrial policies. Linda Goldberg ( 2004 ): Financial-sector FDI and host countries: New and old lessons, working paper 10441, National bureau of economic research Borenzstein, E., De Gregoria, J. and Lee, J.W (1998): “How does foreign direct investment affect economic growth? Manuel R.Agosin and Ricardo Mayer (2000), "Foreign Investment in Developing Countries: Does it crowd in Domestic Investment?" Baldwin, R. E. (1995), "The Effects of Trade and Foreign Direct Investment on Employment and Relative Wages", OECD Jobs Study Working Papers, No. 4, OECD De Mello, L.R.Jr (1999)."Foreign Direct Investment-Led Growth: Evidence from Time Series and Panel Data", Oxford Economic Review, Gordon H. Hanson, “Should countries promote foreign direct investment? “ Aitken, B. J. & A. E. Harrison (1999): Do Domestic Firms Benefit from Direct Foreign Investment? Evidence from Venezuela. American Economic Review 89(3): pp. 605–618. Andreosso, B., Lenihan, H., Benácek, V. 2009. Does Political Risk influence Foreign Direct Investment Decisions in European Countries? Carkovic, M., Levine, R. 2002. Does Foreign Direct Investment Accelerate Economic Growth? University of Minnesota. Mody, A. 2007. Foreign Direct Investment and the World Economy. Routledge. Gylfason T., 2001. Lessons from the Dutch Disease: Causes, Treatment, and Ceres. StatOil. |
Předběžná náplň práce |
It is considered that foreign direct investment (FDI) has an important role for economic growth and economic development in developing countries. My thesis will concentrate on the role of foreign sector’s activities for economic growth. Specifically the foreign investment level in the economy and how do activities of the company with foreign direct investment have an impact on the growth of a particular sector is analyzed by empirical evidence. Its objective is to analyze the relationship between FDI and economic growth by using econometric estimations. Further my empirical study would analyze the economic growth and the growth of a particular sector in Mongolia which has emerged from foreign direct investment. Because Mongolia is a country with rich natural resources and recently discovered huge amount of coal, copper and gold field and become one of the top FDI attracting countries in the world. Using its resources this country could reduce their poverty in short time. Empirical study of my thesis would also analyze and suggest how to create better environment for FDI and efficiently allocate its profit, based on those countries that had a same problem. ¨
The key reference for the policy recommendations in the thesis will be the recent book “Breeding Latin American Tigers” by Robert Devlin and Graciela Moguillansky, whose economic principles will be re-adjusted for the Mongolian case – a developing country with high endowments of natural resources. I am going to use the data from World Bank annual report, World Investment report, data from Mongolian Statistical office, data from Mongolian National Bank, and additionally I will collect some data of my own. Working hypotheses: 1. Hosting countries not only benefits from foreign direct investment but also loses their valuable things. 2. The most attracting factors for foreigners to invest Mongolia are its natural resources and also its poor legal system. 3. It has been always investors benefit from natural resource. 4. Exporting semi-processed product is way more beneficial than exporting raw material. Methodology: In the beginning of my thesis I will stretch out the idea about new and old lesson of FDI. Moreover, brief introduction about Mongolia will be introduced and recent economic situation will be presented with statistical data from national statistic office of Mongolia. In the regression analysis section using the heterogeneous panel data I will estimate the relation between FDI and GDP to see how many percentage of GDP rise take place when FDI increase in the long run. Also using econometric estimation i will try to find which economy sector in Mongolia is the most attracting sector to FDI using statistical data from National Statistic office of Mongolia. A country with a rich natural resource and with high poverty has a high potential for becoming one of the developed countries in the world. Unfortunatelly not all countries with same situation could prove that. There are many unfortunate histories about countries who had plenty of natural resources but end up with nothing. The curse of Dutch disease is one of the reasons. In my thesis i am going to point out the reasons and suggest better ways based on Devlin & Mogulliansky (2011). Outline: 1. Introduction 2. Foreign Direct Investment 2.1 Definition and background 2.2 Types of FDI 2.3 Methods 2.4 Relationship between Economic growths 2.5 Risks of the Dutch disease 3. Foreign Direct Investment in Mongolia 3.1 History of economic transition 3.2 Total investment in Mongolia 3.3 Attracting factors of FDI in Mongolia 4. Regression analysis of FDI inflows 5. Effective and efficient policies to adopt FDI 6. Conclusion 7. References / Bibliography |
Předběžná náplň práce v anglickém jazyce |
It is considered that foreign direct investment (FDI) has an important role for economic growth and economic development in developing countries. My thesis will concentrate on the role of foreign sector’s activities for economic growth. Specifically the foreign investment level in the economy and how do activities of the company with foreign direct investment have an impact on the growth of a particular sector is analyzed by empirical evidence. Its objective is to analyze the relationship between FDI and economic growth by using econometric estimations. Further my empirical study would analyze the economic growth and the growth of a particular sector in Mongolia which has emerged from foreign direct investment. Because Mongolia is a country with rich natural resources and recently discovered huge amount of coal, copper and gold field and become one of the top FDI attracting countries in the world. Using its resources this country could reduce their poverty in short time. Empirical study of my thesis would also analyze and suggest how to create better environment for FDI and efficiently allocate its profit, based on those countries that had a same problem. ¨
The key reference for the policy recommendations in the thesis will be the recent book “Breeding Latin American Tigers” by Robert Devlin and Graciela Moguillansky, whose economic principles will be re-adjusted for the Mongolian case – a developing country with high endowments of natural resources. I am going to use the data from World Bank annual report, World Investment report, data from Mongolian Statistical office, data from Mongolian National Bank, and additionally I will collect some data of my own. Working hypotheses: 1. Hosting countries not only benefits from foreign direct investment but also loses their valuable things. 2. The most attracting factors for foreigners to invest Mongolia are its natural resources and also its poor legal system. 3. It has been always investors benefit from natural resource. 4. Exporting semi-processed product is way more beneficial than exporting raw material. Methodology: In the beginning of my thesis I will stretch out the idea about new and old lesson of FDI. Moreover, brief introduction about Mongolia will be introduced and recent economic situation will be presented with statistical data from national statistic office of Mongolia. In the regression analysis section using the heterogeneous panel data I will estimate the relation between FDI and GDP to see how many percentage of GDP rise take place when FDI increase in the long run. Also using econometric estimation i will try to find which economy sector in Mongolia is the most attracting sector to FDI using statistical data from National Statistic office of Mongolia. A country with a rich natural resource and with high poverty has a high potential for becoming one of the developed countries in the world. Unfortunatelly not all countries with same situation could prove that. There are many unfortunate histories about countries who had plenty of natural resources but end up with nothing. The curse of Dutch disease is one of the reasons. In my thesis i am going to point out the reasons and suggest better ways based on Devlin & Mogulliansky (2011). Outline: 1. Introduction 2. Foreign Direct Investment 2.1 Definition and background 2.2 Types of FDI 2.3 Methods 2.4 Relationship between Economic growths 2.5 Risks of the Dutch disease 3. Foreign Direct Investment in Mongolia 3.1 History of economic transition 3.2 Total investment in Mongolia 3.3 Attracting factors of FDI in Mongolia 4. Regression analysis of FDI inflows 5. Effective and efficient policies to adopt FDI 6. Conclusion 7. References / Bibliography |