Investment Motives in Africa: What Does the Meta-Analytic Review Tell?

IF 16.4 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY

Accounts of Chemical Research Pub Date : 2021-06-15 DOI:10.1093/jae/ejab011

A. Anwar, I. Iwasaki, U. Dornberger

{"title":"Investment Motives in Africa: What Does the Meta-Analytic Review Tell?","authors":"A. Anwar, I. Iwasaki, U. Dornberger","doi":"10.1093/jae/ejab011","DOIUrl":null,"url":null,"abstract":"\n Over the past two decades, Africa has witnessed a dramatic increase in foreign direct investment (FDI) despite a lack of significant changes in infrastructure and the host country’s policies. What are the motives to invest in Africa? How do these investment motives differ for firms from developed and emerging markets? Several studies empirically tested these questions, however, provided inconclusive results. By taking 735 estimates extracted from 51 studies and applying advanced meta-analysis techniques, this study examines the motives of FDI in Africa. We found that compared to market-seeking motive, the effect size of resource seeking and efficiency seeking is larger (smaller) on FDI attractiveness in Africa. In terms of effect size, the impact of asset-seeking motive on FDI is statistically comparable to that of market-seeking motive. Contrary to general perceptions, the impact of natural resources on FDI attractiveness in Africa is not different from market seeking for developed countries’ firms. Our results show that compared to GDP per capita, the effect size of accessing minerals and oil reserves on FDI attractiveness in Africa is positive and significant for global and emerging market firms. Our research shows that there is more likelihood of type I and type II publication selection bias in this research field.","PeriodicalId":1,"journal":{"name":"Accounts of Chemical Research","volume":"1 1","pages":""},"PeriodicalIF":16.4000,"publicationDate":"2021-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"2","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Accounts of Chemical Research","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1093/jae/ejab011","RegionNum":1,"RegionCategory":"化学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"CHEMISTRY, MULTIDISCIPLINARY","Score":null,"Total":0}

引用次数: 2

Abstract

Over the past two decades, Africa has witnessed a dramatic increase in foreign direct investment (FDI) despite a lack of significant changes in infrastructure and the host country’s policies. What are the motives to invest in Africa? How do these investment motives differ for firms from developed and emerging markets? Several studies empirically tested these questions, however, provided inconclusive results. By taking 735 estimates extracted from 51 studies and applying advanced meta-analysis techniques, this study examines the motives of FDI in Africa. We found that compared to market-seeking motive, the effect size of resource seeking and efficiency seeking is larger (smaller) on FDI attractiveness in Africa. In terms of effect size, the impact of asset-seeking motive on FDI is statistically comparable to that of market-seeking motive. Contrary to general perceptions, the impact of natural resources on FDI attractiveness in Africa is not different from market seeking for developed countries’ firms. Our results show that compared to GDP per capita, the effect size of accessing minerals and oil reserves on FDI attractiveness in Africa is positive and significant for global and emerging market firms. Our research shows that there is more likelihood of type I and type II publication selection bias in this research field.

查看原文本刊更多论文

非洲的投资动机：元分析评论说明了什么？

在过去二十年中，尽管基础设施和东道国的政策没有发生重大变化，但非洲的外国直接投资却急剧增加。在非洲投资的动机是什么？这些投资动机与发达市场和新兴市场的公司有何不同？然而，对这些问题进行实证检验的几项研究却没有得出结论。通过从51项研究中提取735个估计值，并应用先进的荟萃分析技术，本研究考察了非洲外国直接投资的动机。我们发现，与市场寻求动机相比，资源寻求和效率寻求对非洲外国直接投资吸引力的影响大小更大（更小）。就效应大小而言，资产寻求动机对FDI的影响与市场寻求动机的影响在统计上具有可比性。与一般看法相反，自然资源对非洲外国直接投资吸引力的影响与发达国家企业寻求市场没有什么不同。我们的研究结果表明，与人均GDP相比，获取矿产和石油储量对非洲外国直接投资吸引力的影响大小对全球和新兴市场公司来说是积极和显著的。我们的研究表明，在这一研究领域，I型和II型出版物选择偏差的可能性更大。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.