PUBLICATIONS

@workingpaper{Akpan2014,
title = {Determinants of Foreign Direct Investment in Fast-Growing Economies: A Study of BRICS and MINT},
author = {Salisu Isihak & Simplice Asongu R A Uduak S. Akpan},
editor = {African 2014 Governance and Development Institute WP/14/002},
url = {http://www.afridev.org/RePEc/agd/agd-wpaper/Determinants-of-FDI-in-fast-growing-economies.pdf},
year = {2014},
date = {2014-01-01},
abstract = {This study employs panel analysis to examine the determinants of foreign direct investment
(FDI) in Brazil, Russia, India, China, and South Africa (BRICS) and Mexico, Indonesia, Nigeria,
and Turkey (MINT) using data for eleven years i.e. 2001 – 2011. First, it uses pooled time-series
cross sectional analysis to estimate the model on determinants of FDI for three samples: BRICS
only, MINT only, and BRICS and MINT combined; then, random effects model is also
employed to estimate the model for BRICS and MINT combined. The results show that market
size, infrastructure availability, and trade openness play the most significant roles in attracting
FDI to BRICS and MINT while the roles of availability of natural resources and institutional
quality are insignificant. Given that FDI inflow to a country has the potential of being mutually
beneficial to the investing entity and host government, the challenge is on how BRICS and
MINT can sustain the level of FDI inflow and ensure it results in economic growth and socioeconomic
transformation. To sustain the level of FDI inflow, governments of BRICS and MINT
need to ensure that their countries remain attractive for investment. BRICS and MINT also need
to ensure that their economies absorb substantial skills and technology spillovers from FDI
inflow to promote sustainable long-term economic growth by investing more in their human
capital. The study is significant because it contributes to literature on determinants of FDI by
extending the scope of previous studies which often focus only on BRICS.},
keywords = {BRICS, determinants, fast-growing economies, FDI, MINT},
pubstate = {published},
tppubtype = {workingpaper}
}