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العوامل الكلية المحددة للاستثمار الأجنبي المباشر: دراسة تطبيقية للاقتصاد المصري للفترة من 1980-2015

المصدر: المجلة العلمية لكلية الدراسات الاقتصادية والعلوم السياسية
الناشر: جامعة الإسكندرية - كلية الدراسات الاقتصادية والعلوم السياسية
المؤلف الرئيسي: مخيمر، محمد سيد عابد (مؤلف)
المؤلف الرئيسي (الإنجليزية): Abed, Mohamed Sayed
المجلد/العدد: مج1, ع2
محكمة: نعم
الدولة: مصر
التاريخ الميلادي: 2016
الشهر: يوليو
الصفحات: 216 - 246
ISSN: 2356-9913
رقم MD: 1500627
نوع المحتوى: بحوث ومقالات
اللغة: العربية
قواعد المعلومات: EcoLink
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المستخلص: This paper attempts to identify the importance of macroeconomic variables in attracting foreign direct investment into the Egyptian economy during the period (1980- 2015), by analyzing the most important macroeconomic variables selected by reviewing the previous economic studies. These variables include real GDP as a measure of the size of the market, real exchange rate as a proxy of competitiveness, level of international reserves as a proxy for economic stability, and the relative interest rate that measures the domestic cost relative to foreign cost of financing investment. The results of estimating different models of the determinants of foreign direct investment in Egypt showed that that real GDP has the greatest impact on inflows of FDI in Egypt. The openness degree was found positively related to the flows of FDI, which underlines the importance of working to increase the export capabilities of the Egyptian economy to become more attractive to foreign investment. The relative interest rate was found positively related to the flows of FDI. The real foreign exchange rate was found negatively related to the flows of FDI which are concentrated in the Oil and Gas sector. International reserves were found insignificant. The test of the causal relationship between real GDP and foreign investment flows in Egypt has shown a causal relationship in one direction from real GDP to foreign direct investment. Accordingly, the ability of the Egyptian economy to attract foreign direct investment depends on its ability to achieve higher growth rate.

ISSN: 2356-9913