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The Influence of Measures of Economic Freedom on FDI: A Comparison of Western Europe and Sub-Saharan Africa

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  • Mory Fodé Fofana

    (Competition Bureau of Canada, Department of Industry, Government of Canada, 50 Victoria St., Gatineau, QC K1A 0C9, Canada)

Abstract

This research found that recent efforts aimed at stimulating both domestic and foreign investment have attached great importance to the improvement of the regulatory framework and institutions of economic freedom. From the empirical perspective, benchmarking panel data of two samples of countries of Sub-Saharan Africa and Western Europe was used to assess the disaggregated effect of the regulatory variables of economic freedom on FDI. The results indicate that institutional variables of economic freedom are important in attracting FDI for both Europe and Africa. However, the specific variables that are statistically significant depend on the current state of development of the countries in the samples. These results are useful for comparing and identifying the priorities of the regulatory framework reforms for improving economic performance.

Suggested Citation

  • Mory Fodé Fofana, 2014. "The Influence of Measures of Economic Freedom on FDI: A Comparison of Western Europe and Sub-Saharan Africa," Global Economy Journal (GEJ), World Scientific Publishing Co. Pte. Ltd., vol. 14(03n04), pages 399-424, October.
    • Handle: RePEc:wsi:gejxxx:v:14:y:2014:i:03n04:n:gej-2014-0023
    DOI: 10.1515/GEJ-2014-0023
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    Citations

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    Cited by:

    1. Sayari, Naz & Sari, Ramazan & Hammoudeh, Shawkat, 2018. "The impact of value added components of GDP and FDI on economic freedom in Europe," Economic Systems, Elsevier, vol. 42(2), pages 282-294.
    2. Hamza Belfqih & Ahlam Qafas & Mounir Jerry, 2022. "Investigating the Nexus Between FDI and Institutional Quality: Evidence from Morocco," Global Journal of Emerging Market Economies, Emerging Markets Forum, vol. 14(3), pages 390-418, September.
    3. Elchin Suleymanov & Elvin Alirzayev & Mammad Talibli, 2019. "Role of Economic Freedom in Attracting Investments in the Context of Azerbaijan," International Journal of Economics and Financial Issues, Econjournals, vol. 9(1), pages 87-95.
    4. Singh Devesh & Gal Zoltán, 2020. "Economic Freedom and its Impact on Foreign Direct Investment: Global Overview," Review of Economic Perspectives, Sciendo, vol. 20(1), pages 73-90, March.
    5. Jacques Yana Mbena, 2022. "The status quo of research in sustainable FDI: exploring the theoretical agenda and policy inferences in West and Central Africa," Future Business Journal, Springer, vol. 8(1), pages 1-16, December.
    6. Brinda Sooreea-Bheemul & Uzma Shataz Rasool & Rajeev Sooreea, 2020. "Does Economic Freedom Matter to Foreign Direct Investment in Sub-Saharan Africa?," International Journal of Economics and Financial Issues, Econjournals, vol. 10(3), pages 195-207.
    7. Alina Taran & Marilena Mironiuc & Maria-Carmen Huian, 2016. "Examining The Influence Of Some Macroeconomic Factors On Foreign Direct Investments," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, issue 18, pages 159-182, December.

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