Does Foreign Direct Investment Increase Corruption in Host Countries?
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We empirically test how foreign direct investment influences the host country’s level of corruption. We hypothesize that its effect may depend on the sector into which the FDI flows and that it may depend on the quality of the rule of law in host countries. We find strong evidence that the effect of FDI becomes more desirable as the quality of the rule of law improves. We also find some evidence for sectoral differences in the effect of FDI. Regression results suggest that the effect of services on corruption is desirable for all countries, whereas mining FDI increases corruption in most countries unless the country’s quality of rule of law is sufficiently high. But, it is not found that a statistically significant difference between services and manufacturing.
Abstract
We empirically test how foreign direct investment influences the host country’s level of corruption. We hypothesize that its effect may depend on the sector into which the FDI flows and that it may depend on the quality of the rule of law in host countries. We find strong evidence that the effect of FDI becomes more desirable as the quality of the rule of law improves. We also find some evidence for sectoral differences in the effect of FDI. Regression results suggest that the effect of services on corruption is desirable for all countries, whereas mining FDI increases corruption in most countries unless the country’s quality of rule of law is sufficiently high. But, it is not found that a statistically significant difference between services and manufacturing.
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