عوامل نهادی مؤثر بر سرمایه‌گذاری مستقیم خارجی و معاهدات سرمایه‌گذاری دوجانبه

نوع مقاله : مقاله پژوهشی

نویسنده

گروه اقتصاد، واحد نراق، دانشگاه آزاد اسلامی، نراق، ایران.

چکیده

مطالعۀ حاضر، با هدف بررسی عوامل نهادی مؤثر بر معاهدات سرمایه‌گذاریِ دو یا چندجانبه در راستای سرمایه‌گذاری مستقیم خارجی صورت گرفته است. این پژوهش ازنظرِ هدف، کاربردی و ازلحاظِ روش، یک تحقیق توصیفی و همبستگی است. جهت آزمون عملی و تجربی فرضیه‌ها، داده‌های 42 کشور، در دورۀ زمانی 1385 تا 1400، به‌عنوان نمونۀ پژوهش، با تکنیک PPML و استفاده از نرم‌افزار 13 Eviews در چارچوب مدل جاذبه، در نظر گرفته شد؛ بنابراین، سؤال پژوهش، چیستی آثار عوامل نهادی مؤثر بر معاهدات سرمایه‌گذاری دو یا چندجانبه، در راستای سرمایه‌گذاری مستقیم است. نتایج تحقیق نشان داد که معاهدات سرمایه‌گذاری، تأثیر مثبت و معنی‌داری بر سرمایه‌گذاری مستقیم خارجی دارد، هرچند این تأثیر، در بین کشورهای درحال‌توسعه بیشتر خواهد بود. عواملی همچون زبان مشترک، ظرفیت بازار و بُعد فاصله نیز، تأثیر معنی‌داری دارند؛ اما متغیرهای جمعیت و همسایگی به غیر از جفت کشورهای درحال‌توسعه، عامل موثری برای جریان سرمایه‌گذاری مستقیم خارجی نیستند. به‌طورکلی، بررسی تجربی نشان داد که معاهدۀ سرمایه‌گذاری دوجانبه، به‌عنوان یک دستگاه سیگنال‌دهنده عمل نموده و این پیام را به سرمایه‌گذاران خارجی منتقل می‌کند که کشور میزبان در حفاظت از سرمایه‌گذاری آنها جدی است.

کلیدواژه‌ها

موضوعات

عنوان مقاله [English]

Institutional Factors Affecting Foreign Direct Investment and Bilateral Investment Treaties

نویسنده [English]

  • Mostafa Heidari Haratemeh
Department of Economics, Naragh Branch, Islamic Azad University, Naragh, Iran.
چکیده [English]

The present study attempts to investigate the institutional factors affecting bilateral or multilateral investment treaties with regard to foreign direct investment. This is an applied research based on descriptive and correlational approach. In order to test the postulated hypotheses, given the availability of data, 42 countries were considered for the period 2006-2021, and the PPML technique was applied using Eviews 13 within the framework of the gravity model. The results showed that investment treaties have a positive and significant effect on foreign direct investment, although this effect will be greater in the case of developing countries. Factors such as common language, market capacity, and distance also have a significant impact, whereas population and geographic proximity are not significant determinants for the flow of foreign direct investment except for the paired developing countries. In general, the empirical investigation demonstrated that a bilateral investment treaty acts as a signaling device, indicating that the host country is serious about protecting the investment.

کلیدواژه‌ها [English]

  • Bilateral Investment Treaty
  • Foreign Direct Investment
  • Gravity Model
  • Institutional Quality
  • Free Trade Agreement

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