在中亞國家吉爾吉斯斯坦，哈薩克斯坦，烏茲別克斯坦和塔吉克斯坦的外國直接投資的決定因素

Determinants of FDI in Central Asian Countries: Kyrgyzstan, Kazakhstan, Uzbekistan and Tajikistan

柯秀一(Koshoibek Moidunov)

指導教授 ： 鄭雅穗

元智大學/管理學院/經營管理碩士班(企業管理與服務科學學程)/碩士(2012年)

摘要

在改造前蘇聯的經濟，特別是在吉爾吉斯斯坦和中亞，宏觀經濟形勢的特點是低層次的公共投資，國內私人和外國投資者缺乏活動。中亞經濟轉型的特殊性，導致更大的投資過程中的複雜性。深在一個過渡時期的經濟危機，經濟生活，社會，包括投資，各個領域加強反對外國直接投資的因素。因此，它是重要的檢查，在選定的國家吸引外國直接投資的因素，同時強調他們的積極和消極影響，確定前景。
目前的研究主要旨在確定修改文獻回顧和分析有關數據，特別是在吉爾吉斯斯坦位於中環的亞洲國家（哈薩克斯坦，烏茲別克斯坦和塔吉克斯坦）和外國直接投資的主要因素。面板數據的技術，涵蓋1990年至2010年已舉辦了一段時間，固定效果模型作為研究方法的選擇。
目前的研究已發現有不一致的法律環境，太多的政府控制和普遍腐敗的情況下國家干預的外國直接投資的主要障礙。目前的研究結論，影響外國直接投資的最重要因素是宏觀經濟的穩定，自然資源和外國直接投資政策，促進貿易開放。然而，在大多數選定的國家，它表明，有外國直接投資和外國直接投資的政策和宏觀經濟穩定之間的負相關關係。總的來說，大部分是在中亞地區的外國直接投資的類型資源尋求證明這是由自然資源和效率尋求型FDI的意義，是基於對宏觀經濟的穩定和外國直接投資政策的重要性。

關鍵字

外國直接投資 ； 吉爾吉斯斯坦 ； 投資 ； 中亞 ； 的決定因素

並列摘要

In transforming the economies of the former Soviet Union, particularly in Kyrgyzstan and Central Asia, the macroeconomic situation characterized by low levels of public investment, lack of activity of private domestic and foreign investors. Peculiarities of transition of the Central Asian economy led to greater complexity of the investment process. The deep economic crisis in a transitional period, all spheres of economic life of society, including investment, strengthened the factors opposing to FDI. It is therefore important to examine the factors that attract FDI in selected countries, while highlighting their positive and negative effects, to determine the prospects.
Current research is principally aims to define the major determinants of FDI in Central Asian countries (Kazakhstan, Uzbekistan and Tajikistan) and particularly in Kyrgyzstan by revising the literature review and analyzing the related data. Panel data technique that covers time period 1990-2010 has been organized, fixed effects model chosen as research method.
Current research has found that there is inconsistent legislative environment, too much of intervention of government control and widespread corruption in case countries are the major obstacles to FDI. Present study concludes that most significant factors that influence FDI are macroeconomic stability, natural resources and FDI policy that promote trade openness. However in most selected countries it showed that there is negative correlation between the FDI and FDI policy and macroeconomic stability. Overall the most of the types of FDI in Central Asia are resource-seeking which is proved by the significance of the natural resources and efficiency seeking FDI that is based on the importance of the macroeconomic stability and FDI policy.

並列關鍵字

determinants. ； FDI ； Kyrgyzstan ； investment ； Central Asia

參考文獻

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