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Determinants of Resource-Seeking Foreign Direct Investment in Mongolia

초록/요약

Mongolia is one of richest countries in terms of its natural resources, and the country’s economy relies heavily on natural resources. Most foreign Direct Investment (FDI) flows into the extractive industry. FDI is a key to the Government of Mongolia achieving economic development goals. This thesis seeks to analyse the possible determinants of resource-seeking FDI in Mongolia, with a specific focus on key factors including openness, political stability, ‘Dutch disease’, and infrastructure in resource-seeking FDI, which are most commonly examined within existing literature. It contributes to the existing literature of the determinants of resource-seeking FDI in Mongolia. This research showed a significant relation between FDI and policy variables (openness, infrastructure, and Dutch disease), while also indicating that FDI has no significance in relation to political stability. It concludes that openness, infrastructure, and Dutch disease contribute FDI inflow, while political stability does not affect to FDI in Mongolia.

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목차

I. INTRODUCTION……………………………………………… 1
II. LITERATURE REVIEW……………………………………… 4
2.1. FDI………………………………………………………… 4
2.1.1 Types of FDI………………………………………… 5
2.1.2. Product Expansion of FDI…………………………… 7
2.1.3. Recent Global FDI Trends…………………………… 8
2.2. Determinants of FDI…………………………………… 10
III. MONGOLIAN ECONOMIC OVERVIEW……………… 17
IV. METHODOLOGY………………………………………… 23
4.1. Model specification…………………………………… 23
4.2. Summary of Variable Expectations………………… 26
4.3. Data and Source…………………………………… 27
4.4. Empirical Analysis Results………………………… 30
4.4.1. Diagnostic Tests………………………………… 30
4.4.2. Empirical Findings………………………………… 33
V. CONCLUSION…………………………………………… 41
Bibliography………………………………………………… 45
Appendix…………………………………………………………..52

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