Determinants of Foreign Direct Investment: Empirical Evidence from Saudi Arabia
Keywords:
FDI, Unit-root Test, Co-integration analysis, Saudi Arabia
Abstract
The present study determines the factors affecting foreign direct investment using cross-sectional time-series data over 2000-2017 in the Saudi Arabian region. Moreover, it examines the long-run association of various independent variables with foreign direct investment. The study applies a three-tier process to empirically test the variables under consideration. First, it uses the augmented Dickey-Fuller test to check the stationarity of the trend analysis at the level and at first difference. Second, it uses White heteroscedasticity-consistent standard errors and covariance regression analysis. Finally, it applies Johansen’s co-integration analysis. The results indicate that all independent variables significantly affect foreign direct investment except infrastructure and market size at a 5% level of significance, and all the independent variables have a long-run association with foreign direct investment in Saudi Arabia.
Downloads
Download data is not yet available.
References
Al Nasser, O. M. (2010). How does foreign direct investment affect economic growth? The role of local conditions. Latin American Business Review, 11(2), 111-139.
Al-Qaisi, K. M. (2017). Foreign Direct Investment and its Literature Review. Journal of Reviews on Global Economics, 6, 105-112.
Alsan, M., Bloom, D.E., & Canning, D. (2006) The effect of population health on foreign direct investment inflows to low-and middle-income countries, World Development, 34(4): 613-630.
Álvarez, I., & Marin, R. (2013) FDI and technology as levering factors of competitiveness in developing countries, Journal of International Management, 19(3), 232-246 https://doi.org/10.1016/j.intman.2013.02.005
Ang, J.B. (2008) Determinants of foreign direct investment in Malaysia, Journal of Policy Modeling, 30(1):185-189.
Anwar, S., & Cooray, A. (2015). Financial flows and per capita income in developing countries. International Review of Economics & Finance, 35, 304-314.
Apaydin, M. (2009) Analyzing FDI trends in emerging markets: Turkey vs CSEE and the middle East, International Journal of Emerging Markets, 4(1): 72-97.
Asiedu, E. (2002) On the determinants of foreign direct investment to developing countries: is Africa different? World Development, 30(1): 107-119.
Asiedu, E., & Lien, D. (2004) Capital controls and foreign direct investment, World Development, 32(3):479-490.
Asongu, S., & Kodila-Tedika, O. (2015). Conditional determinants of FDI in fast emerging economies: an instrumental quantile regression approach. African Governance and Development Institute Working Paper, (15/003).
Badr, O. M., & Ayed, T. L. (2015) The Mediator Role of FDI in North Africa: Case of Egypt, Journal of Advanced Management Science, 3(1). https://doi.org/10.12720/joams.3.1.1-7
Bagli, S., & Adhikary, M. (2014) FDI inflow and economic growth in India an empirical analysis, Economic Affairs, 59(1):23-33.
Balasubramanyam, V.N. (2002) Foreign direct investment in developing countries: determinants and impact, New Horizons for Foreign Direct Investment, No. 548, pp. 187-208.
Banerjee, A., J. Dolado, J. W. Galbraith and D.F. Hendry (1993),Cointe-gration, Error-Correction, and the Analysis of Non-stationary Data, OxfordUniversity Press, Oxford.
Bauerle Danzman, S. (2016). Contracting with whom? The differential effects of investment treaties on FDI. International Interactions, 42(3), 452-478.
Bekhet, H. A., & Al-Smadi, R. W. (2015). Determinants of Jordanian foreign direct investment inflows: Bounds testing approach. Economic Modelling, 46, 27-35.
Bekhet, H. A., & Al-Smadi, R. W. (2016). The dynamic causality between FDI inflow and its determinants in Jordan. International Journal of Economics and Business Research, 11(1), 26-47.
Bengoa, M., & B. Sanchez-Robles (2003) Foreign direct investment, economic freedom and growth: new evidence from Latin America, European Journal of Political Economy, 19(3): 529-545.
Buchanan, A.E. (2011) Beyond Humanity? The Ethics of Biomedical Enhancement, Oxford University Press.
Buckley, P.J., Clegg, L.J., Cross, A.R., Liu, X., Voss, H., & Zheng, P. (2007) The determinants of Chinese outward foreign direct investment, Journal of International Business Studies, 38(4):499-518.
CEIC (2019) Saudi Arabia Foreign Direct Investment 2006 - 2019 | Quarterly | USD mn | Saudi Arabian Monetary Authority [Online] Available at: https://www.ceicdata.com/en/indicator/saudi-arabia/foreign-direct-investment [Accessed 21 July 2019].
Cheng, L.K., & Kwan, Y.K. (2000) What are the determinants of the location of foreign direct investment? The Chinese experience, Journal of International Economics, 51(2):379-400.
Cuyvers, P. (2000) You can’t have it all – at least at the same time. Segmentation in the modern life course as a threat to intergenerational communication and solidarity, European Commission: Family Issues Between Gender and Generations, Office for Official Publications of the European Communities, Luxembourg, pp. 30-43.
Danmola, R. A. (2013). The impact of exchange rate volatility on the macro economic variables in Nigeria. European Scientific Journal, 9(7).
Demirhan, E., & Masca, M. (2008) Determinants of foreign direct investment flows to developing countries: a cross-sectional analysis, Prague Economic Papers, 2008(4):356-369.
Dickey, D.A. and W.A. Fuller (1979), ‘Distribution of the estimators for au-toregressive time series with a unit root’,Journal of the American StatisticalAssociation, 74, 427–431
Edwards, S. &1990).Capital ̄ows, foreign direct invest-ment, and debtÐequity swaps in developing countries.NBER working paper no. 3497. Cambridge, MA:NBER
Elimam, H. (2017) Determinants of foreign direct investment in Saudi Arabia: A review, International Journal of Economics and Finance, 9(7)222-227 [Online] Available at: https://doi.org/10.5539/ijef.v9n7p222 [Accessed 21 July 2019].
Fosfuri, A., Motta, M., & Rønde, T. (2001) Foreign direct investment and spillovers through workers’ mobility, Journal of International Economics, 53(1): 205-222.
Gemayel, E. (2004) Risk Instability and the Pattern of Foreign Direct Investment in the Middle East and North Africa Region, IMF Working Paper, WP/04/139 (IMF).
Glass, A.J., & Saggi, K. (2002) Multinational firms and technology transfer, The Scandinavian Journal of Economics, 104(4):495-513.
Globerman, S., & Shapiro, D. (2002) Global foreign direct investment flows: the role of governance infrastructure, World Development, 30(11): 1899-1919.
Gui-Diby, S. L., & Renard, M. F. (2015). Foreign direct investment inflows and the industrialization of African countries. World Development, 74, 43-57.
Hoang, H.H., & Goujon, M. (2014) Determinants of foreign direct investment in Vietnamese provinces: a spatial econometric analysis, Post-Communist Economies, 26(1): 103-121.
Hong Hiep Hoang & Michaël Goujon, 2014. "Determinants of foreign direct investment in Vietnamese provinces: a spatial econometric analysis," Post-Communist Economies, Taylor & Francis Journals, vol. 26(1), pages 103-121,
Iamsiraroj, S., & Doucouliagos, H. (2015). Does growth attract FDI? (No. 2015-18). Economics Discussion Papers.
Jiménez, A. (2011). Political risk as a determinant of Southern European FDI in neighboring developing countries. Emerging Markets Finance and Trade, 47(4), 59-74.
Kalirajan, K., & Singh, K. (2010) Economic liberalisation strategies and poverty reduction across Indian states, Asian-Pacific Economic Literature, 24(1): 26-42.
Kandil, M. (2011). Financial flows to developing and advanced countries: determinants and implications. International Journal of Development Issues, 10(1), 60-91.
Kashcheeva, M. (2013). The role of foreign direct investment in the relation between intellectual property rights and growth. Oxford Economic Papers, 65(3), 699-720.
Kinoshita, Y., & Campos, N.F. (2003) Why Does FDI Go Where It Goes? New Evidence From The Transition Economies, Working Paper No. 573, William Davidson Institute, pp. 1-25.
Kumari, R. and Sharma, A. (2017), "Determinants of foreign direct investment in developing countries: a panel data study", International Journal of Emerging Markets, Vol. 12 No. 4, pp. 658-682. https://doi.org/10.1108/IJoEM-10-2014-0169
Lessmann, C. (2013). Foreign direct investment and regional inequality: A panel data analysis. China Economic Review, 24, 129-149.
Liu, Q., Wang, S., Zhang, W., Zhan, D., & Li, J. (2018). Does foreign direct investment affect environmental pollution in China’s cities? A spatial econometric perspective. Science of the total environment, 613, 521-529.
Mamingi, N., & Martin, K. (2018). Foreign direct investment and growth in developing countries: evidence from the countries of the Organisation of Eastern Caribbean States. CEPAL Review.
Méon, P-G., & K. Sekkat (2004) Does the Quality of Institutions Limit the MENA’s Integration in the World Economy? The World Economy, 27, 9, 1475-1498.
Morck, R., & Yeung, B. (1992) Internalization: an event study test, Journal of International Economics, 33(1): 41-56.
Na, L. and Lightfoot, W. (2006), "Determinants of foreign direct investment at the regional level in China", Journal of Technology Management in China, Vol. 1 No. 3, pp. 262-278. https://doi.org/10.1108/17468770610704930
Na, L., & Lightfoot, W.S. (2006) Determinants of foreign direct investment at the regional level in China, Journal of Technology Management in China, 1(3):262-278.
Neuhaus, M. (2006) The Impact of FDI on Economic Growth: An Analysis for the Transition Countries of Central and Eastern Europe, 2nd ed. London, Springer.
Ojide, M., Chigozie, A., & Eke, F. A. (2016). Foreign Direct Investment in Nigeria: Reassessing the Role of Market Size. International Journal of Academic Research in Business and Social Sciences, 6(2), 95-104.
Onyeiwu, S., & Shrestha, H. (2004). Determinants of Foreign Direct Investment in Africa. Journal of Developing Societies, 20(1–2), 89–106. https://doi.org/10.1177/0169796X04048305
Pazienza, P. (2015). The environmental impact of the FDI inflow in the transport sector of OECD countries and policy implications. International Advances in Economic Research, 21(1), 105-116.
Petrović-Ranđelović, M., Janković-Milić, V., & Kostadinović, I. (2017). Market size as a determinant of the foreign direct investment inflows in the Western Balkans countries. Facta Universitatis, Series: Economics and Organization, 093-104.
Quazi, R.M. (2007) Foreign direct investment in Latin America: a panel regression study, The International Journal of Business and Finance Research, 1(1):59-67.
Quazi, Rahim. (2007). Economic Freedom and Foreign Direct Investment in East Asia. Journal of the Asia Pacific Economy. 12. 329-344. 10.1080/13547860701405755.
Resmini, L. (2000) The determinants of foreign direct investment in the CEECs: new evidence from sectoral patterns, Economics of Transition, 8(3): 665-689.
Rodriguez, X.A., & Pallas, J. (2008) Determinants of foreign direct investment in Spain, Applied Economics, 40(19): 2443-2450.
Rogmans, T., & Ebbers, H. (2013) The determinants of foreign direct investment in the Middle East North Africa region, International Journal of Emerging Markets, 8 (3): 240-257.
Sahoo, P. (2006) Foreign direct investment in South Asia: policy, trends, impact and determinants, Discussion Paper No. 56, ADB Institute, pp. 1-76.
Sahoo, P., & Dash, R.K. (2009) Infrastructure development and economic growth in India, Journal of the Asia Pacific Economy, 14(4): 351-365.
Sargan, J.D. and A.S. Bhargava (1983), ‘Testing residuals from least squaresregression for being generated by the Gaussian random walk’,Econometrica,51, 153–174.8
Sillah, B. (2015), "Human capital, foreign direct investment stock, trade and the technology diffusion in Saudi Arabia 1974-2011", Journal of Economic Studies, Vol. 42 No. 1, pp. 101-116. https://doi.org/10.1108/JES-04-2013-0047
Singhania, M., & Gupta, A. (2011) Determinants of foreign direct investment in India, Journal of International Trade Law and Policy, 10(1): 64-82.
Sultanuzzaman, M. R., Fan, H., Akash, M., Wang, B., & Shakij, U. S. M. (2018). The role of FDI inflows and export on economic growth in Sri Lanka: An ARDL approach. Cogent Economics & Finance, 6(1), 1518116.
Tintin, C. (2013) Foreign direct investment inflows and economic freedoms: evidence from Central and Eastern European countries, Advances in Business-Related Scientific Research, 4(1):1-12.
Tiwari, A. K., & Mutascu, M. (2011). Economic growth and FDI in Asia: A panel-data approach. Economic analysis and policy, 41(2), 173-187.
Tomiura, E. (2003) The impact of import competition on Japanese manufacturing employment, Journal of the Japanese and International Economies, 17(2): 118-133.
Tsen, W.H. (2005) The determinants of foreign direct investment in the manufacturing industry of Malaysia, Journal of Economic Cooperation, 26(2): 91-110.
Uddin, G. S., Sjö, B., & Shahbaz, M. (2013). The causal nexus between financial development and economic growth in Kenya. Economic Modelling, 35, 701-707.
UNCTAD (2018) World Investment Report 2018 [Online] Available at: https://unctad.org/en/PublicationsLibrary/wir2018_en.pdf [Accessed 21 July 2019].
UNCTADstat, http://unctadstat.unctad.org/wds/TableViewer/tableView.aspx
World Bank (2008) Technology and Technological Diffusion in Developing Countries- Global Economic Prospects 2008 [Online] Available at: http://siteresources.worldbank.org/INTPROSPECTS/Resources/334934-1322593305595/8287139-1327608119530/GEP08Chap2.pdf [Accessed 21 July 2019].
Wright Jr, J. W. (Ed.). (2016) Business and Economic Development in Saudi Arabia. Springer.
Zhang, J., & He, X. (2014) Economic nationalism and foreign acquisition completion: the case of China, International Business Review, 23(1): 212-227.
Al-Qaisi, K. M. (2017). Foreign Direct Investment and its Literature Review. Journal of Reviews on Global Economics, 6, 105-112.
Alsan, M., Bloom, D.E., & Canning, D. (2006) The effect of population health on foreign direct investment inflows to low-and middle-income countries, World Development, 34(4): 613-630.
Álvarez, I., & Marin, R. (2013) FDI and technology as levering factors of competitiveness in developing countries, Journal of International Management, 19(3), 232-246 https://doi.org/10.1016/j.intman.2013.02.005
Ang, J.B. (2008) Determinants of foreign direct investment in Malaysia, Journal of Policy Modeling, 30(1):185-189.
Anwar, S., & Cooray, A. (2015). Financial flows and per capita income in developing countries. International Review of Economics & Finance, 35, 304-314.
Apaydin, M. (2009) Analyzing FDI trends in emerging markets: Turkey vs CSEE and the middle East, International Journal of Emerging Markets, 4(1): 72-97.
Asiedu, E. (2002) On the determinants of foreign direct investment to developing countries: is Africa different? World Development, 30(1): 107-119.
Asiedu, E., & Lien, D. (2004) Capital controls and foreign direct investment, World Development, 32(3):479-490.
Asongu, S., & Kodila-Tedika, O. (2015). Conditional determinants of FDI in fast emerging economies: an instrumental quantile regression approach. African Governance and Development Institute Working Paper, (15/003).
Badr, O. M., & Ayed, T. L. (2015) The Mediator Role of FDI in North Africa: Case of Egypt, Journal of Advanced Management Science, 3(1). https://doi.org/10.12720/joams.3.1.1-7
Bagli, S., & Adhikary, M. (2014) FDI inflow and economic growth in India an empirical analysis, Economic Affairs, 59(1):23-33.
Balasubramanyam, V.N. (2002) Foreign direct investment in developing countries: determinants and impact, New Horizons for Foreign Direct Investment, No. 548, pp. 187-208.
Banerjee, A., J. Dolado, J. W. Galbraith and D.F. Hendry (1993),Cointe-gration, Error-Correction, and the Analysis of Non-stationary Data, OxfordUniversity Press, Oxford.
Bauerle Danzman, S. (2016). Contracting with whom? The differential effects of investment treaties on FDI. International Interactions, 42(3), 452-478.
Bekhet, H. A., & Al-Smadi, R. W. (2015). Determinants of Jordanian foreign direct investment inflows: Bounds testing approach. Economic Modelling, 46, 27-35.
Bekhet, H. A., & Al-Smadi, R. W. (2016). The dynamic causality between FDI inflow and its determinants in Jordan. International Journal of Economics and Business Research, 11(1), 26-47.
Bengoa, M., & B. Sanchez-Robles (2003) Foreign direct investment, economic freedom and growth: new evidence from Latin America, European Journal of Political Economy, 19(3): 529-545.
Buchanan, A.E. (2011) Beyond Humanity? The Ethics of Biomedical Enhancement, Oxford University Press.
Buckley, P.J., Clegg, L.J., Cross, A.R., Liu, X., Voss, H., & Zheng, P. (2007) The determinants of Chinese outward foreign direct investment, Journal of International Business Studies, 38(4):499-518.
CEIC (2019) Saudi Arabia Foreign Direct Investment 2006 - 2019 | Quarterly | USD mn | Saudi Arabian Monetary Authority [Online] Available at: https://www.ceicdata.com/en/indicator/saudi-arabia/foreign-direct-investment [Accessed 21 July 2019].
Cheng, L.K., & Kwan, Y.K. (2000) What are the determinants of the location of foreign direct investment? The Chinese experience, Journal of International Economics, 51(2):379-400.
Cuyvers, P. (2000) You can’t have it all – at least at the same time. Segmentation in the modern life course as a threat to intergenerational communication and solidarity, European Commission: Family Issues Between Gender and Generations, Office for Official Publications of the European Communities, Luxembourg, pp. 30-43.
Danmola, R. A. (2013). The impact of exchange rate volatility on the macro economic variables in Nigeria. European Scientific Journal, 9(7).
Demirhan, E., & Masca, M. (2008) Determinants of foreign direct investment flows to developing countries: a cross-sectional analysis, Prague Economic Papers, 2008(4):356-369.
Dickey, D.A. and W.A. Fuller (1979), ‘Distribution of the estimators for au-toregressive time series with a unit root’,Journal of the American StatisticalAssociation, 74, 427–431
Edwards, S. &1990).Capital ̄ows, foreign direct invest-ment, and debtÐequity swaps in developing countries.NBER working paper no. 3497. Cambridge, MA:NBER
Elimam, H. (2017) Determinants of foreign direct investment in Saudi Arabia: A review, International Journal of Economics and Finance, 9(7)222-227 [Online] Available at: https://doi.org/10.5539/ijef.v9n7p222 [Accessed 21 July 2019].
Fosfuri, A., Motta, M., & Rønde, T. (2001) Foreign direct investment and spillovers through workers’ mobility, Journal of International Economics, 53(1): 205-222.
Gemayel, E. (2004) Risk Instability and the Pattern of Foreign Direct Investment in the Middle East and North Africa Region, IMF Working Paper, WP/04/139 (IMF).
Glass, A.J., & Saggi, K. (2002) Multinational firms and technology transfer, The Scandinavian Journal of Economics, 104(4):495-513.
Globerman, S., & Shapiro, D. (2002) Global foreign direct investment flows: the role of governance infrastructure, World Development, 30(11): 1899-1919.
Gui-Diby, S. L., & Renard, M. F. (2015). Foreign direct investment inflows and the industrialization of African countries. World Development, 74, 43-57.
Hoang, H.H., & Goujon, M. (2014) Determinants of foreign direct investment in Vietnamese provinces: a spatial econometric analysis, Post-Communist Economies, 26(1): 103-121.
Hong Hiep Hoang & Michaël Goujon, 2014. "Determinants of foreign direct investment in Vietnamese provinces: a spatial econometric analysis," Post-Communist Economies, Taylor & Francis Journals, vol. 26(1), pages 103-121,
Iamsiraroj, S., & Doucouliagos, H. (2015). Does growth attract FDI? (No. 2015-18). Economics Discussion Papers.
Jiménez, A. (2011). Political risk as a determinant of Southern European FDI in neighboring developing countries. Emerging Markets Finance and Trade, 47(4), 59-74.
Kalirajan, K., & Singh, K. (2010) Economic liberalisation strategies and poverty reduction across Indian states, Asian-Pacific Economic Literature, 24(1): 26-42.
Kandil, M. (2011). Financial flows to developing and advanced countries: determinants and implications. International Journal of Development Issues, 10(1), 60-91.
Kashcheeva, M. (2013). The role of foreign direct investment in the relation between intellectual property rights and growth. Oxford Economic Papers, 65(3), 699-720.
Kinoshita, Y., & Campos, N.F. (2003) Why Does FDI Go Where It Goes? New Evidence From The Transition Economies, Working Paper No. 573, William Davidson Institute, pp. 1-25.
Kumari, R. and Sharma, A. (2017), "Determinants of foreign direct investment in developing countries: a panel data study", International Journal of Emerging Markets, Vol. 12 No. 4, pp. 658-682. https://doi.org/10.1108/IJoEM-10-2014-0169
Lessmann, C. (2013). Foreign direct investment and regional inequality: A panel data analysis. China Economic Review, 24, 129-149.
Liu, Q., Wang, S., Zhang, W., Zhan, D., & Li, J. (2018). Does foreign direct investment affect environmental pollution in China’s cities? A spatial econometric perspective. Science of the total environment, 613, 521-529.
Mamingi, N., & Martin, K. (2018). Foreign direct investment and growth in developing countries: evidence from the countries of the Organisation of Eastern Caribbean States. CEPAL Review.
Méon, P-G., & K. Sekkat (2004) Does the Quality of Institutions Limit the MENA’s Integration in the World Economy? The World Economy, 27, 9, 1475-1498.
Morck, R., & Yeung, B. (1992) Internalization: an event study test, Journal of International Economics, 33(1): 41-56.
Na, L. and Lightfoot, W. (2006), "Determinants of foreign direct investment at the regional level in China", Journal of Technology Management in China, Vol. 1 No. 3, pp. 262-278. https://doi.org/10.1108/17468770610704930
Na, L., & Lightfoot, W.S. (2006) Determinants of foreign direct investment at the regional level in China, Journal of Technology Management in China, 1(3):262-278.
Neuhaus, M. (2006) The Impact of FDI on Economic Growth: An Analysis for the Transition Countries of Central and Eastern Europe, 2nd ed. London, Springer.
Ojide, M., Chigozie, A., & Eke, F. A. (2016). Foreign Direct Investment in Nigeria: Reassessing the Role of Market Size. International Journal of Academic Research in Business and Social Sciences, 6(2), 95-104.
Onyeiwu, S., & Shrestha, H. (2004). Determinants of Foreign Direct Investment in Africa. Journal of Developing Societies, 20(1–2), 89–106. https://doi.org/10.1177/0169796X04048305
Pazienza, P. (2015). The environmental impact of the FDI inflow in the transport sector of OECD countries and policy implications. International Advances in Economic Research, 21(1), 105-116.
Petrović-Ranđelović, M., Janković-Milić, V., & Kostadinović, I. (2017). Market size as a determinant of the foreign direct investment inflows in the Western Balkans countries. Facta Universitatis, Series: Economics and Organization, 093-104.
Quazi, R.M. (2007) Foreign direct investment in Latin America: a panel regression study, The International Journal of Business and Finance Research, 1(1):59-67.
Quazi, Rahim. (2007). Economic Freedom and Foreign Direct Investment in East Asia. Journal of the Asia Pacific Economy. 12. 329-344. 10.1080/13547860701405755.
Resmini, L. (2000) The determinants of foreign direct investment in the CEECs: new evidence from sectoral patterns, Economics of Transition, 8(3): 665-689.
Rodriguez, X.A., & Pallas, J. (2008) Determinants of foreign direct investment in Spain, Applied Economics, 40(19): 2443-2450.
Rogmans, T., & Ebbers, H. (2013) The determinants of foreign direct investment in the Middle East North Africa region, International Journal of Emerging Markets, 8 (3): 240-257.
Sahoo, P. (2006) Foreign direct investment in South Asia: policy, trends, impact and determinants, Discussion Paper No. 56, ADB Institute, pp. 1-76.
Sahoo, P., & Dash, R.K. (2009) Infrastructure development and economic growth in India, Journal of the Asia Pacific Economy, 14(4): 351-365.
Sargan, J.D. and A.S. Bhargava (1983), ‘Testing residuals from least squaresregression for being generated by the Gaussian random walk’,Econometrica,51, 153–174.8
Sillah, B. (2015), "Human capital, foreign direct investment stock, trade and the technology diffusion in Saudi Arabia 1974-2011", Journal of Economic Studies, Vol. 42 No. 1, pp. 101-116. https://doi.org/10.1108/JES-04-2013-0047
Singhania, M., & Gupta, A. (2011) Determinants of foreign direct investment in India, Journal of International Trade Law and Policy, 10(1): 64-82.
Sultanuzzaman, M. R., Fan, H., Akash, M., Wang, B., & Shakij, U. S. M. (2018). The role of FDI inflows and export on economic growth in Sri Lanka: An ARDL approach. Cogent Economics & Finance, 6(1), 1518116.
Tintin, C. (2013) Foreign direct investment inflows and economic freedoms: evidence from Central and Eastern European countries, Advances in Business-Related Scientific Research, 4(1):1-12.
Tiwari, A. K., & Mutascu, M. (2011). Economic growth and FDI in Asia: A panel-data approach. Economic analysis and policy, 41(2), 173-187.
Tomiura, E. (2003) The impact of import competition on Japanese manufacturing employment, Journal of the Japanese and International Economies, 17(2): 118-133.
Tsen, W.H. (2005) The determinants of foreign direct investment in the manufacturing industry of Malaysia, Journal of Economic Cooperation, 26(2): 91-110.
Uddin, G. S., Sjö, B., & Shahbaz, M. (2013). The causal nexus between financial development and economic growth in Kenya. Economic Modelling, 35, 701-707.
UNCTAD (2018) World Investment Report 2018 [Online] Available at: https://unctad.org/en/PublicationsLibrary/wir2018_en.pdf [Accessed 21 July 2019].
UNCTADstat, http://unctadstat.unctad.org/wds/TableViewer/tableView.aspx
World Bank (2008) Technology and Technological Diffusion in Developing Countries- Global Economic Prospects 2008 [Online] Available at: http://siteresources.worldbank.org/INTPROSPECTS/Resources/334934-1322593305595/8287139-1327608119530/GEP08Chap2.pdf [Accessed 21 July 2019].
Wright Jr, J. W. (Ed.). (2016) Business and Economic Development in Saudi Arabia. Springer.
Zhang, J., & He, X. (2014) Economic nationalism and foreign acquisition completion: the case of China, International Business Review, 23(1): 212-227.
Published
2019-11-26
How to Cite
Gazzaz, H. (2019). Determinants of Foreign Direct Investment: Empirical Evidence from Saudi Arabia. Journal of Research in Business, Economics and Management, 13(4), 2530-2539. Retrieved from http://scitecresearch.com/journals/index.php/jrbem/article/view/1807
Issue
Section
Articles
TRANSFER OF COPYRIGHT
JRBEM is pleased to undertake the publication of your contribution to Journal of Research in Business Economics and Management.
The copyright to this article is transferred to JRBEM(including without limitation, the right to publish the work in whole or in part in any and all forms of media, now or hereafter known) effective if and when the article is accepted for publication thus granting JRBEM all rights for the work so that both parties may be protected from the consequences of unauthorized use.
