Tác động của chất lượng thể chế đến FDI của Hàn Quốc vào khu vực ASEAN

Authors

Kiên Trần Nhuận Trường Đại học Kinh tế và Quản trị Kinh doanh, Đại học Thái Nguyên Author
Huyền Nguyễn Thị Thanh Trường Đại học Kinh tế và Quản trị Kinh doanh, Đại học Thái Nguyên Author

DOI:

https://doi.org/10.24311/jabes/2019.30.10.1293

Keywords:

FDI, Institutional quality, The Republic of Korea, ASEAN, Gravity model, Principal component analysis

Abstract

This study examines the impact of institutional quality and economic determinants on Korea’ outward foreign direct investment into nine ASEAN countries over the period 2002–2017. Using the gravity model, the empirical results show that institutional indicators, including rule of law, government effectiveness, regulatory quality, and control of corruption have a positive and significant impact on Korea’s outward FDI into ASEAN. Employing Principal Component Analysis (PCA), the results confirms that Korea’ outward FDI is positively attracted by institutional quality of ASEAN countries. In addition, the study also reveals the evidence of a significant positive impact of market size, inflation rate, the benefit of Agreement on Investment¹, and the significant negative impact of infrastructure on Korea’s FDI into ASEAN countries. Based on the empirical evidence, several recommendations are proposed to attract Korea’s FDI from the perspective of developing countries.

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