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Foreign direct investment, income inequality and country risk
International Journal of Finance and Economics ( IF 1.634 ) Pub Date : 2021-02-08 , DOI: 10.1002/ijfe.2542
En‐Ze Wang 1 , Chien‐Chiang Lee 2, 3
Affiliation  

Given the continuous debate about the foreign direct investment (FDI)-inequality nexus, there is an acknowledged need for reconsidering their relationship from a new perspective. Therefore, applying balanced panel data composed of 60 countries from 1998 to 2014, this research estimates a finite mixture model with country risk as a concomitant variable to explore the interrelationships among FDI, inequality, and country risk so as to offer fresh insight into the FDI-inequality nexus. We present evidence that shows a significant role of compositing country risk on this. Specifically speaking, FDI deteriorates inequality under the condition of high risk, whereas it alleviates inequality in a country with low country risk. Moreover, we can also obtain the similar findings by considering the role of components of country risk (economic risk, financial risk and political risk) as a determinant for the FDI-inequality nexus. FDI deteriorates inequality under the condition of high political, economic and financial risks, whereas it alleviates inequality in a country with low political, economic and financial risks.

中文翻译:

外国直接投资、收入不平等和国家风险

鉴于关于外国直接投资 (FDI) 与不平等关系的持续争论,人们公认需要从新的角度重新考虑它们的关系。因此,本研究利用1998年至2014年60个国家组成的平衡面板数据,估计了一个以国家风险为伴随变量的有限混合模型,探讨FDI、不平等和国家风险之间的相互关系,从而为FDI提供新的视角。 ——不平等的关系。我们提供的证据表明,复合国家风险对此发挥着重要作用。具体而言,FDI在高风险的情况下会加剧不平等,而在低国家风险的情况下会减轻不平等。此外,通过考虑国家风险组成部分(经济风险、金融风险和政治风险)作为 FDI 与不平等关系的决定因素。在政治、经济和金融风险较高的情况下,外国直接投资会加剧不平等,而在政治、经济和金融风险较低的国家,外国直接投资会减轻不平等。
更新日期:2021-02-08
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