Evidence on corruption as an incentive for foreign direct investment |
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| Authors: | Peter Egger Hannes Winner |
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| Institution: | aLudwig-Maximilans-University of Munich, CESifo, and ifo-Institute for Economic Research, Poschingerstr. 5, 81631 Munich, Germany;bDepartment of Economics and Statistics, University of Innsbruck, Universitaetsstr. 15, 6020 Innsbruck, Austria |
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| Abstract: | This paper assesses the relationship between corruption and inward foreign direct investment (FDI). Previous research has presumed that corruption directly enters the cost function of multinationals, suggesting a negative relationship between corruption and FDI. For a sample of 73 developed and less developed countries and the time period 1995–1999, we find a clear positive relationship between corruption and FDI. Corruption is thus a stimulus for FDI. |
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| Keywords: | Corruption Foreign direct investment Panel econometrics |
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