O impacto de dimensões selecionadas do ambiente institucional dos países da África Subsaariana na sua capacidade de atrair investimento estrangeiro

Authors

  • Manuel Portugal Ferreira AUniversidade Nove de Julho – Uninove, São Paulo, SP
  • Justino Gomes Ferreira Instituto Politécnico de Leiria - IPL, Leiria

DOI:

https://doi.org/10.18568/1980-4865.11121-36

Keywords:

África subsaariana, Ambiente institucional, Investimento estrangeiro direto

Abstract

pesquisa em negócios internacionais aponta para o ambiente institucional como um determinante crucial da capacidade de os países atraírem investimento estrangeiro direto (IED). No entanto, a pesquisa existente tem estado mais focada em compreender o ambiente institucional específico de economias emergentes e em transição deixando descurados os países africanos. Neste artigo analisamos o impacto de seis dimensões institucionais selecionadas na capacidade de os países da África Subsaariana atraírem influxos de IED. Os resultados mostram que a qualidade do ambiente institucional está positivamente relacionada com o IED nestes países, confirmando estudos anteriores em outras localizações, mas mostrando algumas diferenças notáveis. Estendemos a pesquisa existente sobre os ambientes e distâncias institucionais para contextos de extrema sub-institucionalização que caracterizam muita da região da África Subsaariana.

Downloads

Download data is not yet available.

Author Biographies

Manuel Portugal Ferreira, AUniversidade Nove de Julho – Uninove, São Paulo, SP

has doctorate in Business Administration from the University of Utah, UTAH, United States. Professor at the University Nove de Julho in the Master’s and Doctorate Program of Administration – Uninove, São Paulo, SP, Brazil. E-mail: manuel.portugal.ferreira@gmail.com

Justino Gomes Ferreira, Instituto Politécnico de Leiria - IPL, Leiria

has Undergraduate (Licentiate) in Public Administration and Master in International Business. Polytechnic Institute of Leiria and researcher at the globADVANTAGE – Center of Research in International Business & Strategy. His research interests lie in the area of the institutional environment, especially in the context of foreign investment in Africa

References

ADAMS, S. (2009) Can foreign direct investment (FDI) help to promote growth in Africa? African Journal of Business Management, 3 (5), p. 178-183. DOI: 10.5897/AJBM09.001

ADES, A.; DI TELLA, R. (1997) The causes and consequences of corruption: A review of recent empirical contributions. Institute of Development Studies Bulletin, 27 (2), p. 6-12. DOI: 10.1111/j.1759-5436.1996.mp27002002.x

ANGHEL, B. (2005) Do institutions affect foreign direct investment? mimeo, Universidad Autónoma de Barcelona.

ANYANWU, J. (2006) Promoting of investment in Africa. African Development Review, 18 (1), p. 42-71. DOI: 10.1111/j.1467-8268.2006.00132.x

ASIEDU, E. (2002) On the determinants of foreign direct investment to developing countries: Is Africa different?, World Development, 30, p. 107-119. doi:10.1016/S0305-750X(01)00100-0

ASIEDU, E. (2004) Policy reform and foreign direct investment in Africa: Absolute progress but relative decline. Development Policy Review, 22, p. 41-48. DOI: 10.1111/j.1467-8659.2004.00237.x

ASIEDU, E. (2006) Foreign direct investment in Africa: The role of natural resources, market size, government policy, institutions and political instability. The World Economy, 29 (1), p. 63-77. DOI: 10.1111/j.1467-9701.2006.00758.x

ASIEDU, E.; LIEN, D. (2011) Democracy, foreign direct investment and natural resources. Journal of International Economics, 84, p. 99-111. Democracy, foreign direct investment and natural resources. Democracy, foreign direct investment and natural resources. doi:10.1016/j.jinteco.2010.12.001

BENASSY-QUERE, A. ; COUPET, M.; MAYER, T. (2007) Institutional determinants of foreign direct investment. The World Economy, 30 (5), p. 764-782. DOI: 10.1111/j.1467-9701.2007.01022.x

BERRY, H.; GUILLÉN, M.; ZHOU, N. (2010) An institutional approach to cross-national distance, Journal of International Business Studies, 41 (9), p. 1460-1480. doi:10.1057/jibs.2010.28

BHINDA, N.; GRIFFITH-JONES, S.; MARTIN, M. (1999) Foreign direct investment. In Bhinda, N. Leape, J., Martin, M. & Griffith-Jones, S. (Eds.), Private capital flows to Africa: Perception and reality. The Hague: Fondad Publication. DOI: 10.1002/9780470670590.wbeog216

BLONIGEN, B. (2005) A review of the empirical literature on FDI determinants. Atlantic Economic Journal, v. 33, p. 383-403. DOI: 10.1007/s11293-005-2868-9

BROUTHERS, K. (2002) Institutional, cultural and transaction cost influences on entry mode choice and performance. Journal of International Business Studies, 33 (2), p. 203-221. DOI: http://dx.doi.org/10.1057/palgrave.jibs.8491013

BUSSE, M.; HEFEKER, C. (2007) Political risk, institutions and foreign direct investment. European Journal of Political Economy, 23 (2), p. 397-415. doi:10.1016/j.ejpoleco.2006.02.003

BUSSE, M. (2004) Transnational corporations and repression of political rights and civil liberties: An empirical analysis. Kyklos, 57 (1), p. 45-66. DOI: 10.1111/j.0023-5962.2004.00242.x

CLEEVE, E. (2008) How effective are fiscal incentives to attract FDI to sub-Saharan Africa? Journal of Developing Areas, 42, p. 135-153.

CUERVO-CAZURRA, A. (2006) Who cares about corruption? Journal of International Business Studies, 37 (6) p. 807-822. doi:10.1057/palgrave.jibs.8400223

CUERVO-CAZURRA, A. (2007) Better the devil you don’t know: Type of corruption and FDI in transition economies. Journal of International Management, 14 (1), p. 12-27. doi:10.1016/j.intman.2007.02.003

CUERVO-CAZURRA, A.; GENC, M. (2008) Transforming disadvantages into advantages: Developing-country MNEs in the least developed countries, Journal of International Business Studies, 39, p. 957-979. doi:10.1057/palgrave.jibs.8400390

DARLEY, W. (2012) Increasing sub-Saharan Africa's share of foreign direct investment: Public policy challenges, strategies, and implications. Journal of African Business, 13 (1), p. 62-69. DOI:10.1080/15228916.2012.657981

DAUDE, C.; STEIN, E. (2007) The quality of institutions and foreign direct investment. Economics and Politics, 19, p. 317-344. DOI: 10.1111/j.1468-0343.2007.00318.x

DELIOS, A.; HENISZ, W. (2000) Japanese firms' investment strategies in emerging economies. Academy of Management Journal, 43 (3), p. 305-23. doi: 10.2307/1556397

DIMAGGIO, P.; POWELL, W. The iron cage revisited: Institutional isomorphism and collective rationality in organizational fields. American Sociological Review, v. 48, p.147-160, 1983.

DIXON, D.; POLYAKOV, E. (1998) Business as an anathema government: The path to private business. USSR Business and Economic History, 27 (1), p. 173-185.

DUMLUDAG, D.; SARIDOGAN E.; KURT, S. (2009) Determinants of foreign direct investment: An institutionalist approach. Seventh Conference of the European Historical Economics Society, Lund University.

DUNNING, J. (1988) The Ecletic paradigm of international production: A restatement and some possible extensions, Journal of International Business Studies, 19 (1), p. 1-31.

DUNNING, J. (1993) Multinational enterprises and the global economy. Wokingham: Addison-Wesley.

DUPASQUIER, C.; OSAKWE, P. (2006) Foreign direct investment in Africa: Performance, challenges, and responsibilities. Journal of Asian Economics, 17 (2), p. 241-260. doi:10.1016/j.asieco.2005.07.002

ESTRIN, S.; HUGHES, K.; TODD, S. (1997) Foreign Direct Investment in Central and Eastern Europe. London: Royal Institute of International Affairs. DOI: 10.1007/BF02928116

FABRY, N.; ZEGHINI, S. (2006) FDI in the new European neighbors of Southern Europe: A quest of institutions-based attractiveness. University Library of Munich, MPRA Paper No 1109.

GLOBERMAN, S., SHAPIRO, D.; TANG, Y. (2004) Foreign direct investment in emerging and transition European countries. Western Washington University.

GROSSE, R.; TREVINO, L. (2005) New institutional economics and FDI location in Central and Eastern Europe. Management International Review, 45 (2), p. 123-145.

GUPTA, V.; LEVENBURG, N.; MOORE, L.; MOTWANI, J.; SCHWARZ, T. (2010) Family business in sub-Saharan Africa versus the Middle East. Journal of African Business, 11 (1), p. 146-162. DOI:10.1080/15228916.2010.508992

HARMS, P.; URSPRUNG, H. (2002) Do civil and political repressions really boost foreign direct investment? Economic Inquiry, 40, p. 651-663.

HENISZ, W.; SWAMINATHAN, A. (2008) Institutions and international business. Journal of International Business Studies, 39, p. 537-539.

HENISZ, W. (2000) The institutional environment for multinational investment. Journal of Law, Economics and Organization, 6 (2), p. 334-364. doi: 10.1093/jleo/16.2.334

HOLMES, R.; MILLER, T.; HITT, M.; SALMADOR, M. (2012) The interrelationships among informal institutions, formal institutions, and inward foreign direct investment. Journal of Management, 39 (2), p. 531-566. doi: 10.1177/0149206310393503

HOLTBRÜGGE, D.; BERG, N.; PUCK, J. (2007) To bribe or to convince? Political stakeholders and political activities in German multinational corporations. International Business Review, 16, p. 47-67. doi:10.1016/j.ibusrev.2006.11.001

IQBAL, K.; SHAH, A. (2008) How do the Worldwide Governance Indicators measure up? available in: http://siteresources.worldbank.org/PSGLP/Resources/Howdoworldwidegovernanceindicatorsmeasureup.pdf. Access: 28/01/2016

JENSEN, N. (2003) Democratic governance and multinational corporations: The political economy of foreign direct investment. International Organization, 57 (3), p. 587-616. DOI: http://dx.doi.org/10.1017/S0020818303573040

JIMÉNEZ, A.; DELGADO, J. (2012) Proactive management of political risk and corporate performance: The case of Spanish multinational enterprises. International Business Review, 21 (6), p. 1029-1040. doi:10.1016/j.ibusrev.2011.11.008

KADITI, E. (2010) Foreign investments and institutional convergence in South Eastern Europe, Centre for European policy studies (CEPS), Catholic University of Leuven, LICOS Discussion Paper No. 260/2010. http://dx.doi.org/10.2139/ssrn.1619817

KAUFMANN, D.; KRAAY, A.; ZOIDO-LOBATON, P. (1999) Aggregating governance indicators, World Bank Policy Research Department Working Paper No. 2195.

KAUFMANN, D.; KRAAY, A.; MASTRUZZI, M. (2003) Governance matters III: Governance indicators 1996‐2002. Working paper 3106, World Bank, Washington, D.C.

KAUFMANN, D.; KRAAY, A.; MASTRUZZI, M. (2009) Governance matters VIII: Aggregate and individual governance indicators for 1996‐2008. Working Paper 4978. World Bank, Washington, D.C.

KHALIL, K.; DAHOU, K. (2009) Investment: Unlocking Africa’s potential. OECD journal General Papers, 9 (1), p. 37-62.

KHOURY, T.; PENG, M. (2011) Does institutional reform of intellectual property rights lead to more inbound FDI? Evidence from Latin America and the Caribbean. Journal of World Business, 46, p. 336-345. doi:10.1016/j.jwb.2010.07.015

KINOSHITA, Y.; CAMPOS, N. (2004) Estimating the determinants of foreign direct investment inflows: How important are sampling and omitted variable biases?, BOFIT – Institute for Economies in Transition, Bank of Finland, Discussion Papers, Nº 10.

KNACK, S.; KEEFER, P. (1995) Institutions and economic performance: Cross-country tests using alternative institutional measures. Economic and Politics, 7, p. 207-227. DOI: 10.1111/j.1468-0343.1995.tb00111.x

KNACK, S. (2006) Measuring corruption in Eastern Europe and Central Asia: A critique of the cross-country indicators. Washington DC: World Bank.

LEVINE, R.; RENELT, D. A (1992) sensitivity analysis of cross-country growth regressions. American Economic Review, 82, p. 942-963.

LI, D.; FERREIRA, M. (2011) Institutional environment and firms' sources of financial capital in Central and Eastern Europe. Journal of Business Research, 64, p. 371-376. doi:10.1016/j.jbusres.2010.08.013

LI, Q.; RESNICK, A. (2003) Reversal of fortunes: Democratic institutions and foreign direct investment inflows to developing countries. International Organization, 57, p. 175-211. doi:10.1016/j.jbusres.2010.08.013

MATEEV, M. (2009) Determinants of foreign direct investment in Central and Southeastern Europe: New empirical tests. Oxford Journal, 8 (1), p. 133-149.

MAURO, P. (1995). Corruption and growth. Quarterly Journal of Economics, 110, p. 681-712.

MMIEH, F.; OWUSU-FRIMPONG, N. (2004) State policies and the challenges in attracting foreign direct investment: A review of the Ghana experience. Thunderbird International Business Review, 46 (5), p. 575-599. DOI: 10.1002/tie.20025

MORISSET, J. (2000) Foreign direct investment to Africa: Policies also matter. Transnational Corporation, 9, p. 107-125.

NAUDE, W.; KRUGELL, W. (2007) Investigating geography and institutions as determinants of foreign direct investment in Africa using panel data. Applied Economics, 39, p. 1223-1233. DOI:10.1080/00036840600567686

NDIKUMANA, L.; VERICK, S. (2008) The linkages between FDI and domestic investment: Unravelling the developmental impact of foreign investment in sub-Saharan Africa, Development Policy Review, 26 (6), p. 713-726. DOI: 10.1111/j.1467-7679.2008.00430.x

NDIKUMANA, L. (2003) Capital flows, capital account regimes and foreign exchange rate regimes in Africa, in UNCTAD Management of capital flows: Comparative Experiences and Implications for Africa. Geneva: UNCTAD. http://dx.doi.org/10.2139/ssrn.378900

NORTH, D. (1990) Institutions, institutional change, and economic performance. Cambridge, England: Cambridge University Press.

OLSON, M. (1995) Why the transition from communism is so difficult. Eastern Economic Journal, 21 (4), p. 437–61.

PENG, M.; HEATH, P. (1996) The growth of the firm in planned economies in transition: institutions, organizations, and strategic choice. Academy of Management Review, 21 (2) p. 492-528. doi: 10.5465/AMR.1996.9605060220

PENG, M.; KHOURY, T. (2008) Unbundling the institution-based view of international business strategy, in Rugman, A. (Ed.) The Oxford Handbook of International Business, p. 256-268. New York, NY: Oxford University Press. DOI: 10.1093/oxfordhb/9780199234257.003.0010

PENG, M. (2003) Institutional transitions and strategic choices. Academy of Management Review, 28 (2) p. 275–96. doi: 10.5465/AMR.2003.9416341

RESMINI, L. (2000) The determinants of foreign direct investment in the CEECs: New evidence from sectorial patterns. Economics of Transition, 8 (3), p. 665-689. DOI: 10.1111/1468-0351.00060

ROGOFF, K.; REINHART, C. (2003) FDI to Africa: The role of price stability and currency instability. International Monetary Fund, Working Paper 03/10.

ROOT, F. (1994) Entry strategies for international markets. Lexington, MA: Lexington Books.

ROSE-ACKERMAN, S. (1999) Corruption and government: Causes, consequences and reform, New York, NY: Cambridge University Press.

ROTH, K.; KOSTOVA, T. (2003) Organizational coping with institutional upheaval in transition economies. Journal of World Business, 38, p. 314-330. doi:10.1016/j.jwb.2003.08.018

SCOTT, W. (1995) Institutions and organizations, Thousand Oaks, CA: Sage.

SHLEIFER, A.; VISHNY, R. (1993). Corruption. Quarterly Journal of Economics, 108 (3), p. 599-617.

SINGH, H.; JUN, K. (1995) Some new evidence on determinants of foreign direct investment in developing countries, The World Bank, working paper, Washington DC: The World Bank.

THOMAS, M. (2010) What do the Worldwide Governance Indicators measure? European Journal of Development Research, 22, p. 31-54. doi:10.1057/ejdr.2009.32

UHLENBRUCK, K.; RODRIGUEZ, P.; DOH, J.; EDEN, L. (2006) The impact of corruption on entry strategy: Evidence from telecommunication projects in emerging economies, Organization Science, 17 (3), p. 402-414. http://dx.doi.org/10.1287/orsc.1060.0186

UNCTAD. (2002) World Investment Report: Transnational Corporations and Export Competitiveness (New York and Geneva: United Nations Conference on Trade and Development).

UNCTAD. (2008) World Investment Report, TNCs and the Infrastructural Challenge. Embargo (New York and Geneva: United Nations Conference on Trade and Development).

WEI, S. (2000) How taxing is corruption on internal investors? Review of Economics and Statistics, 82 (1), p. 1-11. doi:10.1162/003465300558533

WORLD BANK. (2005) World bank atlas (36th ed). Washington, D.C.: World Bank Publications.

Downloads

Published

2016-05-17

How to Cite

Ferreira, M. P., & Ferreira, J. G. (2016). O impacto de dimensões selecionadas do ambiente institucional dos países da África Subsaariana na sua capacidade de atrair investimento estrangeiro. Internext - International Business and Management Review, 11(1), 21–36. https://doi.org/10.18568/1980-4865.11121-36

Issue

Vol. 11 No. 1 (2016): Janeiro/Abril

Section

Article

License

- The author(s) authorize the publication of the article in the journal;

- The author(s) ensure that the contribution is original and unpublished and is not being evaluated in other journal(s);

- The journal is not responsible for the opinions, ideas and concepts expressed in the texts because they are the sole responsibility of the author(s);

- In case an article will be approved for publication, the author will sign the term of Cession of Copyright to the journal, according to the download form.

Most read articles by the same author(s)