Browsing by Author "Piesse, J."

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    FDI Determinants in Least Recipient Regions: The Case of Sub‐Saharan Africa and MENA.
    (Wiley, 2017-12) Okafor, Godwin; Piesse, J.; Webster, A.
    This paper explores the determinants of FDI into FDI least recipient regions. Panel data for 20 Sub-Saharan Africa (SSA) and 11 Middle East and North Africa (MENA) countries are used for the period 2000 – 2012. Findings of the fixed effects estimations suggest that FDI inflows into these regions are influenced by GDP per capita, infrastructure development, trade openness, and control of corruption. Conversely, inflation negatively affects FDI inflows and rents from natural resources do not significantly influence FDI. Furthermore, the findings show that marginal benefits from any increase in the quantity of FDI determinants (with the exception of control of corruption) will be less for SSA countries. The paper concludes with important policy implications deduced from the findings.
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    The Motives for Inward FDI into Sub-Saharan Africa Countries
    (Elsevier, 2015-08-22) Webster, A.; Piesse, J.; Okafor, Godwin
    This study contributes to the FDI literature by investigating the impact of all four locational motives of FDI in Sub-Saharan African (SSA) countries for the period 1996 – 2010. To achieve this aim, panel data techniques (pooled OLS, fixed effects and GMM) were employed on a sample of SSA countries. The empirical results showed that efficiency and strategic asset seeking factors influenced FDI activities in SSA for the period investigated. Market size also influenced FDI however this was less robust to specifications. Surprisingly, FDI in SSA was not resource seeking. Furthermore, a statistical test confirmed structural and behavioural differences in FDI determinants between SSA sub-regional groups and when analysed separately, FDI in West and Central SSA was market and efficiency seeking while FDI in South and East Africa was best explained by efficiency seeking factors. Based on the empirical findings, a number of policy implications were derived. These policy implications include further implementation of policies targeted at increasing and sustaining trade liberalisation and trade diversification, control of corruption, credible upgrades and productive investments in infrastructure, and support for human capital accumulation as FDI is increasingly directed towards R&D, innovation and strategic asset activities.