The Composition of FDI in the MENA Region and Other Countries: Econometric Investigation and Implications for MENA Countries

Philipp Harms and Pierre-Guillaume Méon

No 793, Working Papers from Economic Research Forum

Abstract: We investigate the determinants of the distribution of FDI across greenfield investment and mergers and acquisitions in a sample containing up to 91 developed and developing countries over 1987-2005. The share of M&As is found to increase with market capitalization and better civil rights. Openness to trade reduces the share of M&As in favor of greenfield investment. We compare the composition of FDI flows to MENA countries to the predictions of the estimated model. We observe a great heterogeneity among those countries.

Pages: 33
Date: 2013-11, Revised 2013-11
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