CIS 국가들의 정치적, 경제적, 제도적 요인이 해외직접투자 유치규모에 미치는 영향

Abstract

The purpose of this paper is to find out the influence of political, economic and institutional factors of CIS countries on the scale of FDI attraction based on traditional theoretical approach and new theoretical approach. Specifically, we think that political, economic and institutional factors are assumed to be crucial factors that will strengthen foreign direct investment flows. In this study, we used the OLS regression model to analyze the factors influencing the foreign direct investment inflows of CIS countries for the period 2000 to 2014. As a result, political stability, which is a political variable, has a positive effect on foreign direct investment attraction scale. The market size, which is an economic variable, has a positive effect on the size of FDI attraction. Natural resources have a positive (+) impact on foreign direct investment, as CIS countries are rich in natural resources. This study did not confirm the positive effect of the foreign direct investment on labor participation rate. Openness and infrastructure were not statistically significant as expected. Finally, we can not confirm that the institutional variable, corruption, has a negative effect on foreign direct investment. In conclusion, The main findings of this research are political and economic factors are more important than the institutional factors in attracting FDI.