The Influence of Measures of Economic Freedom on FDI: A Comparison of Western Europe and Sub-Saharan Africa

Mory Fodé Fofana
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Mory Fodé Fofana: Competition Bureau of Canada, Department of Industry, Government of Canada, 50 Victoria St., Gatineau, QC K1A 0C9, Canada

Global Economy Journal (GEJ), 2014, vol. 14, issue 03n04, 399-424

Abstract: This research found that recent efforts aimed at stimulating both domestic and foreign investment have attached great importance to the improvement of the regulatory framework and institutions of economic freedom. From the empirical perspective, benchmarking panel data of two samples of countries of Sub-Saharan Africa and Western Europe was used to assess the disaggregated effect of the regulatory variables of economic freedom on FDI. The results indicate that institutional variables of economic freedom are important in attracting FDI for both Europe and Africa. However, the specific variables that are statistically significant depend on the current state of development of the countries in the samples. These results are useful for comparing and identifying the priorities of the regulatory framework reforms for improving economic performance.

Keywords: foreign direct investment; institutions and regulatory framework; economic freedom; economic reforms; Africa; property right (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:wsi:gejxxx:v:14:y:2014:i:03n04:n:gej-2014-0023

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DOI: 10.1515/GEJ-2014-0023

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