【正文】 cial, environmental, and economic life of their citizens. They bring huge domestic governance challenges not only for the benefit of foreign investors, but also for domestic business and society at large as well. In the study the main determinants of FDI have been identified. It is possible for the countries to develop policies particular to their own economic structure by looking at the main FDI determinants. For example, when looking at the “Gross Capital Formation” indicator in country X, we can conclude that this country can develop policies to encourage the import of investment goods instead of the import of consumption goods. Again country Y can improve intra trade policies by taking the “Openness” indicator into account. Or by taking the “Total Debt ServiceGDP ratio” indicator into account, country Z can develop policies related to utilization of resources provided from external debt in productive fields in order to cover the country39。 Fan, 2020。 中文 3568 字 畢業(yè)論文外文翻譯 外文題目 ： Analyses of FDI determinants in developing countries 出 處： (36):105123. 作 者： Recep Kok,Bernur Acikgoz Erso y 原文： Analyses of FDI determinants in developing countries Recep Kok,Bernur Acikgoz Ersoy ABSTRACT Purpose: The purpose of this paper is to investigate the best determinants of foreign direct investment (FDI) in developing countries. Design/methodology/approach: This paper investigates whether FDI determinants affect FDI based on both a panel of data (FMOLSfully modified OLS) and crosssection SUR (seemingly unrelated regression) for 24 developing countries, over the period 19832020 for FMOLS and 19762020 for crosssection SUR. Findings: The interaction of FDI with some FDI determinants have a strong positive effect on economic progress in developing countries, while the interaction of FDI with the total debt service/GDP and inflation have a negative impact. The most important determinant of FDI is the munication variable. Trade has traditionally been the principal mechanism linking national economies in order to create an international economy. FDI is a similar mechanism linking national economies。 Lim, 2020). According to the neoclassical growth theory model, FDI does not affect the longterm growth rate. This is understandable if we consider the assumptions of the model, namely: constant economies of scale, decreasing marginal products of inputs, positive substitution elasticity of inputs and perfect petition (Sass, 2020). Within the framework of the neoclassical models (Solow, 1956), the impact of FDI on the growth rate of output was constrained by the existence of diminishing returns in the physical capital. Therefore, FDI could only exert a level effect on the output per capita, but not a rate effect. In other words, it was unable to alter the growth rate of output in the long run (Calvo and Robles, 2020). As a consequence, of endogenous growth theory, FDI has a newlyperceived potential role in the growth process (BendeNabende and Ford, 1998). In the context of the New Theory of Economic Growth, however, FDI may affect not only the level of output per capita but also its rate of growth. This literature has developed various hypotheses that explain why FDI may potentially enhance the growth rate of per capita ine in the host country (Calvo and Robles, 2020). However, the endogenous growth theory, which dispenses with the assumption of perfect pet