外商直接投資與制度環(huán)境--在轉(zhuǎn)型經(jīng)濟(jì)體中的作用研究外文翻譯-環(huán)境工程-全文預(yù)覽
【正文】 itage Foundation data set covering again a span of 8 years (1995– 2020) for 24 transitional countries. The panel data analysis was based on a generaltospecific approach, suggested by Berg et al. (1999). Despite a vast literature on factors that might be important for FDI inflow, transition is an unprecedented process and there are hardly any models on FDI in transition considered a number of variables, suggested by empirical researches:2 market size (proxied by GDP per capita, population), labour cost, trade barriers and openness (proxied by the institutional variable for foreign trade), growth rate, trade deficit (as percent in GDP), exchange rate, taxes (proxied by institutional variable government and taxes), initial conditions proxy (initial GDP, share of industry, change in the share of industry), institutional variable (overall institutional quality), dummies for economies that might serve as a base for further progress towards the East (like Hungary, Slovenia, and Poland), dummies for groups, dummies for the prevailing type of privatization,3 and regional dummies.. Maximum likelihood estimation was used. Since the objection of countryspecific effects and the use of fixed effects might be possible, a number of dummies were tested to avoid this problem. Conclusion The analysis has shown that FDI can assist in the process of economic growth of transition economies. It has also confirmed that the quality of the institutional environment of transition economies significantly influences the inflow of foreign capital. The analysis regarding the impact of institutional environment on FDI was carried out in two phases. First, the results of the correlation analysis using the Heritage Foundation data as an indicator of institutional quality showed that regulation, property rights protection, and black market had the strongest impact on FDI. FDI environment was fourth, followed by the wages and prices index. By dividing the analysed economies into two groups, it was shown that the economies with a Heritage Foundation Index of or less had received on average five times the amount of FDI per capita inflow of the group with poorer institutional framework, ., with a Heritage Foundation Index greater than . To isolate the importance of institutions from the impact of other, especially economic factors, a panel data analysis was run. It confirmed that the quality of the overall institutional framework was among the factors that in the analyzed period had a significant impact on the level of FDI in transition economies. Other 7 variables that proved to have had a statistically significant influence were budget deficit, insider privatization, and labour cost per hour. Also the EU accession dummy had an impact. As far as the policy implications are concerned, the results of the analysis point to the role of the state as an institution builder. In this role the governments of transitional countries should focus primarily on creating a good legal system. Private property rights protection and the rule of law have turned out to be crucial for attracting foreign investors. In the past decade, most FDI has flown to those transition economies that managed to establish an efficient and transparent legal system and had relatively stable political and economic conditions. Only the economies with rich natural resources seem to be an exemption to this rule.(未完 ) 8 譯 文： 外商直接投資與制度環(huán)境 在轉(zhuǎn)型經(jīng)濟(jì)體中的作用研究 Andrej Sujan 引 言 我們分析外商直接投資與制度環(huán)境的質(zhì)量之間的過度經(jīng)濟(jì)關(guān)系。同時，其它的幾個因素也被證明有著顯著影響。外商直接投資的正外部性對東道國的經(jīng)濟(jì)來講是非常重要。首先，他們希望通過資本的積累，也就是將更多的投入納入生產(chǎn)的過程中，與此同時會有大范圍的中間產(chǎn)品產(chǎn)生。原因在于，這些經(jīng)濟(jì)體有相對充足的人力資源但是他們?nèi)狈夹g(shù)和資 金，這些技術(shù)和資金都是刺激經(jīng)濟(jì)增長的重要因素（ Aleksynka 2020； Bilington 1999， Bevan 和 Estrin 2020）。在相當(dāng)程度上可以解釋為這種增長是由出口導(dǎo)向型經(jīng)濟(jì)
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