Arbeitspapier
Are some dictators more attractive to foreign investors?
Since political uncertainty is greater in dictatorships than in democracies, we test the hypothesis that foreign investors scrutinize public information on dictators to assess this risk. In particular, we as-sume they use five suitable dictators' characteristics: age, political experience, education level, ed-ucation in economics, and prior experience in business. We perform fixed effects estimations on an unbalanced panel of 100 dictatorial countries from 1973 to 2008 to explain foreign direct investment (FDI) inflows. We find that educated dictators are more attractive to foreign investors. We obtain strong evidence that greater educational attainment of the leader is associated with higher FDI. We also find evidence that the leader having received education in economics and prior experience in business is associated with greater FDI. By contrast, the leader's age, and political experience have no relationship with FDI. Our results are robust to several tests and checks, including a comparison with democracies.
- ISBN
-
978-952-323-278-5
- Sprache
-
Englisch
- Erschienen in
-
Series: BOFIT Discussion Papers ; No. 12/2019
- Klassifikation
-
Wirtschaft
International Investment; Long-term Capital Movements
Multinational Firms; International Business
- Thema
-
foreign direct investment
dictatorships
leader characteristics
political risk
- Ereignis
-
Geistige Schöpfung
- (wer)
-
François, Abel
Panel, Sophie
Weill, Laurent
- Ereignis
-
Veröffentlichung
- (wer)
-
Bank of Finland, Institute for Economies in Transition (BOFIT)
- (wo)
-
Helsinki
- (wann)
-
2019
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- François, Abel
- Panel, Sophie
- Weill, Laurent
- Bank of Finland, Institute for Economies in Transition (BOFIT)
Entstanden
- 2019
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