Drivers of China's foreign direct investment into Africa

Detalhes bibliográficos
Autor(a) principal: Braga de Macedo, Jorge
Data de Publicação: 2009
Outros Autores: Pereira, Luís Brites, Lopes, José Mário
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10362/11572
Resumo: We assess the determinants of Chinese direct investment in Africa compared with those of global FDI. We find that economic size and macroeconomic stability are positively correlated with Chinese and global FDI in Africa. Institutional variables, such as accountability and rule of law, are not significant in either case and the same can be said about FDI-aid complementarities. The presence of oil is a determinant of Chinese FDI but not of global FDI into Africa. Conversely, the openness of the economy is a determinant for global FDI but not of Chinese FDI, which appears to favour closed economies possibly due to industrial organizational concerns. While these differences accord with intuition, we find no evidence for the claim that Chinese FDI in Africa is related to non-economic governance in a specific way that differs from global practice. More refined governance indicators should be used to verify whether Chinese and global FDI into Africa remain indistinguishable on this score: we plan to do this in future research.
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spelling Drivers of China's foreign direct investment into AfricaForeign-direct investmentChina-Africa economic relationsWe assess the determinants of Chinese direct investment in Africa compared with those of global FDI. We find that economic size and macroeconomic stability are positively correlated with Chinese and global FDI in Africa. Institutional variables, such as accountability and rule of law, are not significant in either case and the same can be said about FDI-aid complementarities. The presence of oil is a determinant of Chinese FDI but not of global FDI into Africa. Conversely, the openness of the economy is a determinant for global FDI but not of Chinese FDI, which appears to favour closed economies possibly due to industrial organizational concerns. While these differences accord with intuition, we find no evidence for the claim that Chinese FDI in Africa is related to non-economic governance in a specific way that differs from global practice. More refined governance indicators should be used to verify whether Chinese and global FDI into Africa remain indistinguishable on this score: we plan to do this in future research.Nova SBERUNBraga de Macedo, JorgePereira, Luís BritesLopes, José Mário2014-03-13T11:03:05Z2009-032009-03-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10362/11572enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-11T03:46:06Zoai:run.unl.pt:10362/11572Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:20:23.687870Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Drivers of China's foreign direct investment into Africa
title Drivers of China's foreign direct investment into Africa
spellingShingle Drivers of China's foreign direct investment into Africa
Braga de Macedo, Jorge
Foreign-direct investment
China-Africa economic relations
title_short Drivers of China's foreign direct investment into Africa
title_full Drivers of China's foreign direct investment into Africa
title_fullStr Drivers of China's foreign direct investment into Africa
title_full_unstemmed Drivers of China's foreign direct investment into Africa
title_sort Drivers of China's foreign direct investment into Africa
author Braga de Macedo, Jorge
author_facet Braga de Macedo, Jorge
Pereira, Luís Brites
Lopes, José Mário
author_role author
author2 Pereira, Luís Brites
Lopes, José Mário
author2_role author
author
dc.contributor.none.fl_str_mv RUN
dc.contributor.author.fl_str_mv Braga de Macedo, Jorge
Pereira, Luís Brites
Lopes, José Mário
dc.subject.por.fl_str_mv Foreign-direct investment
China-Africa economic relations
topic Foreign-direct investment
China-Africa economic relations
description We assess the determinants of Chinese direct investment in Africa compared with those of global FDI. We find that economic size and macroeconomic stability are positively correlated with Chinese and global FDI in Africa. Institutional variables, such as accountability and rule of law, are not significant in either case and the same can be said about FDI-aid complementarities. The presence of oil is a determinant of Chinese FDI but not of global FDI into Africa. Conversely, the openness of the economy is a determinant for global FDI but not of Chinese FDI, which appears to favour closed economies possibly due to industrial organizational concerns. While these differences accord with intuition, we find no evidence for the claim that Chinese FDI in Africa is related to non-economic governance in a specific way that differs from global practice. More refined governance indicators should be used to verify whether Chinese and global FDI into Africa remain indistinguishable on this score: we plan to do this in future research.
publishDate 2009
dc.date.none.fl_str_mv 2009-03
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