Value Added and Foreign Direct Investment in African Countries: A Quantitative  Regional Structural Analysis

Kasimovskaya, E.N.

Автор: Kasimovskaya Elena Nikolaevna
Сборник: “Humanities and Social Sciences: Modern Trends in a Changing World”. The 4th International Scientific and Practical Conference (July 10, 2023), Premier Publishing s.r.o. Prague. 2023.
Редактор: Koenig M.
Том: 4
Глава в коллективной монографии
Год издания: 2023
Издательство: Premier Publishing s.r.o.
Местоположение издательства: Prague, Czech Republic
Первая страница: 45
Последняя страница: 47
Аннотация: Foreign capital in the form of portfolio and direct investments acts as an additional source of funds in the face of limited domestic savings. The degree and nature of its impact on the economy of a country are determined by many factors and are not always unambiguous. In modern economic thought, there has not yet been a single dominant paradigm for studying the causes and consequences of investing foreign capital in the economy of the host country, both at the micro and macro levels, and the search directions are very diverse and sometimes contradictory. In the 1970s and 1980s, different constructs and models linking FDI flows and exchange rates, indicators of the inclusion of the recipient country's economy in the world economy, characteristics of the institutional environment in all their diversity, including the quality of elites, began to gain popularity. In the early 2000s, the theory of internalization and the oligopolistic model of FDI were promulgated, which was an attempt to link together elements of the micro and macro environment, taking into account the imperfections of both global and local markets. And the localization factor, understood as the advantage of location, is beginning to be considered as significant one. However, different researchers interpret it differently. Thus, the concept of the “track effect”, or path development theory, is starting to attract more and more interest. The foreign literature emphasizes the versatility of the factors generating this phenomenon. However, the “track effect” is based on a technological component. Equipment, buildings, industrial infrastructure (fixed accumulated capital) and a workforce with a certain level of education, skills and technology (human capital) represent a single system consisting of complementary elements, and it is not so easy to change it quickly and without loss. In SSA countries this dependence on previous stages of development is especially pronounced, and foreign direct investment can play the role of a trigger. Moreover, the regional spread of countries allows us to take into account the geographical component.
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Value Added and Foreign Direct Investment in African Countries: A Quantitative Regional Structural Analysisстатья Исследовательская статья

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