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FOREIGN DIRECT INVESTMENT : THE GROWTH ENGINE TO ALGERIA

  • REGGAD SALIM (Reggad Salim, 국제대학원 국제학과 국제개발전공)

초록/요약

Over the last two decades the increase in globalization has led to a remarkable growth of global business activity including foreign direct investment (FDI). Despite the academic and international organizations researches that has been undertaken until now to analyze the positive impacts of FDI on economic growth of developing countries, Algeria represents a country with a lower share of foreign ownership whose FDI experience has been forgotten in terms of a comprehensive economic analysis. Not only has Algeria received a low amount of FDI so far, it is also competing for more FDI. The National Agency for Investment Development (ANDI) is actively promoting Algeria as a location for FDI, claiming that foreign investment has made a major contribution to Algeria’s economic growth. Instantly, two key issues arise. Firstly, assuming that FDI has positive effects on developing host countries, to what extend FDI inflows to Algeria play the role of growth engine? What are the trends and the determinants of FDI in Algeria? Secondly, given the recent trend of FDI in Algeria, what are the strategies of FDI in Algeria and its consequences on the Algerian attractiveness? In order to analyze those questions, new and previous data on FDI inflows in Algeria were explored. The time period chosen ranges from 2000 to 2006. A further contribution of the thesis is the search for new FDI data, bringing together and analyzing datasets provided by United Nations Conference on Trade and Development (UNCTAD), the National Agency for Investment Development (ANDI), the Euro-Mediterranean Network of Investment Promotion Agencies (ANIMA), Bank of Algeria, and so forth. A detailed description of Algerian FDI data was given to gain a better understanding of the impacts of FDI on Algerian economic growth and because no such comprehensive summary has been available. The study emphasize that FDI played a positive role in boosting the economic growth of Algeria, even compared to other countries in the region it was lower, but taking in consideration the critical security dimensions related to the political unrest and the turmoil of the 1990s, it must be said that the role of FDI was, even relative, but beneficial for the country as well as that Algeria was relatively successful over the last decade in attracting FDI inflows, even the performance is low.

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목차


CHAPTER ONE: INTRODUCTION 1
1.1. Methodology 6
1.2. Data and Estimation 6
1.3. Period of the Study 7
1.4. Finding and Results 7
CHAPTER TWO: LITERATURE REVIEW 8
CHAPTER THREE: ALGERIA’S EXPERIENCE WITH FDI 18
3.1. Algerian Economic Situation 18
3.2. Overview of FDI in Algeria 26
3.2.1. Definition of Foreign Direct Investment 26
3.2.2. Types of Foreign Direct Investment 27
3.2.3. Foreign Direct Investment Trends in Algeria 29
3.2.4. Foreign Direct Investment Determinants in Algeria 38
3.2.4.1. Geographical Proximity to Potential Markets 38
3.2.4.2. Availability of Natural Resources 39
3.2.4.3 Openness, Liberalization and Economy Reforms 43
3.2.4.4 Regional Economic Integration 46
3.2.4.5 Abundance of Human Resources 47
3.2.4.6. Macroeconomic and Political Stability 49
3.2.4.7. Market Size 55
3.2.4.8. Infrastructures 56
3.3. Importance of FDI to Algeria's Economic Growth 58
3.3.1. Capital and Investment 61
3.3.2. Technology Transfer 62
3.3.3. Employment 64
3.3.4. Production Diversification and Export Structure 65
3.3.5. Balance of Payment 66
CHAPTER FOUR: FOREIGN DIRECT INVESTMENT (FDI) STARTEGIES 68
4.1. Algeria's FDI Strategies 68
4.1.1. Privatization 68
4.1.2. Financial Incentives 72
4.1.2.1. General Regime 72
4.1.2.2. The Zones to be Developed 73
4.1.2.3. Investment Agreement Regime 74
4.1.3. Achieving Macroeconomic Stability 75
4.1.4. Institutional and Legislative Framework Development 76
4.1.5. Trade Policies to Promote Openness and Integration into the Regional and International Levels 78
4.2. Attracting New Types of FDI to Algeria 79
CHAPTER FIVE: CONCLUSION AND RECOMMENDATIONS 82
5.1. Conclusion 82
5.2. Recommendations 83
REFERENCES 88
WEB SOURCES 95
ANNEXES 96

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