Abstract
In this chapter we investigated the evolution and determinants of manufactured exports and FDI in SEMC from 1985 to 2009 and their future prospects. Our econometric analysis confirmed that exchange rate depreciation, the openness of an economy, as well as the quality of its institutions and infrastructure foster manufactured exports and FDI inflows in the region. We found that deeper integration with the EU would increase manufactured exports and FDI to a greater degree compared to the status quo or compared to greater regional integration.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Achy L, Sekkat K (2003) The European single currency and MENA’s export to Europe. Rev Dev Econ 7(4):563–582
Asiedu E (2002) On the determinants of foreign direct investment to developing countries: is Africa different? World Dev 30(1):107–119
Barro RJ, Lee J-W (2010) A new data set of educational attainment in the world, 1950–2010, vol 15902, NBER working papers. National Bureau of Economic Research, Cambridge, MA
Borensztein E, De Gregorio J, Lee J-W (1998) How does foreign direct investment affect economic growth? J Int Econ 45(1):115–135
De Wulf L, Maliszewska M (eds) (2009) Economic integration in the Euro-Mediterranean region, vol 89, CASE network reports. Center for Social and Economic Research, Warsaw. http://www.case-research.eu/sites/default/files/publications/29895303_CNR_89_text_0.pdf and http://www.case-research.eu/sites/default/files/publications/28660108_CNR_89_annex_final_0.pdf Accessed 27 September 2014
Edwards S (1990) Capital flows, foreign direct investment, and debt-equity swaps in developing countries, vol 3497, NBER working paper. National Bureau of Economic Research, Cambridge, MA
Gwartney JD, Lawson R, Norton S (2008) Economic freedom of the world, annual report. Fraser Institute, Vancouver
Henisz JW (2000a) The institutional environment for economic growth. Econ Pol 12:1–31
Henisz JW (2000b) The institutional environment for multinational investment. J Law Econ Organ 16:334–364
Kaufmann D, Kraay A, Zoido-Lobaton P (1999) Aggregating governance indicators, vol 2195, World Bank working paper. The World Bank, Washington, DC
Ledolter J, Abraham B (1981) Parsimony and its importance in time series forecasting. Technometrics 23(4):411–414
Meon P-G, Sekkat K (2004) Does the quality of institutions limit the MENA’s integration in the world economy? World Econ 27(9):1475–1498
Meon P-G, Sekkat K (2012) FDI waves, waves of neglect of political risk. World Dev 40(11):2194–2205
Sachs JD, Warner A (1995) Economic reform and the process of global integration. Brook Pap Econ Act 1:1–118
Schneider F, Frey B (1985) Economic and political determinants of foreign direct investment. World Dev 13:161–175
Sekkat K (2012) Manufactured exports and FDI in Southern Mediterranean countries: evolution, determinants and prospects. MEDPRO technical report 14. http://www.medpro-foresight.eu/system/files/MEDPRO%20TR%20No%2014%20WP5%20Sekkat.pdf. Accessed 24 Mar 2014
Sekkat K, Varoudakis A (2000) Exchange rate management and manufactured exports in Sub-Saharan Africa. J Dev Econ 61(1):237–255
Sekkat K, Varoudakis A (2002) The impact of trade and exchange rate policy reforms on North-African manufactured imports. Dev Pol Rev 20(2):177–189
Sekkat K, Veganzones MA (2007) Openness, investment climate and FDI in developing countries. Rev Dev Econ 11(4):607–620
UNCTAD (1998) World investment report 1998: trends and determinants. United Nations Conference on Trade and Development. http://unctad.org/en/docs/wir98_en.pdf. Accessed 24 Mar 2014
Wheeler D, Mody A (1992) International investment location decisions: the case of U.S. firms. J Int Econ 33:57–76
Acknowledgement
I am grateful to Luc De Wulf for his very useful comments on a previous version of this paper.
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Appendix: Descriptive Statistics
Appendix: Descriptive Statistics
Rights and permissions
Copyright information
© 2015 Springer International Publishing Switzerland
About this chapter
Cite this chapter
Sekkat, K. (2015). Manufactured Exports and FDI. In: Ayadi, R., Dabrowski, M., De Wulf, L. (eds) Economic and Social Development of the Southern and Eastern Mediterranean Countries. Springer, Cham. https://doi.org/10.1007/978-3-319-11122-3_4
Download citation
DOI: https://doi.org/10.1007/978-3-319-11122-3_4
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-319-11121-6
Online ISBN: 978-3-319-11122-3
eBook Packages: Business and EconomicsEconomics and Finance (R0)