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dc.contributor.authorHajzler, Chrisen_NZ
dc.date.available2011-04-07T03:06:24Z
dc.date.copyright2010-09-01en_NZ
dc.identifier.citationHajzler, C. (2010). Expropriation of Foreign Direct Investments: Sectoral Patterns from 1993 to 2006 (Economics Discussion Papers Series No. 1011). Department of Economics, University of Otago. Retrieved from http://hdl.handle.net/10523/1076en
dc.identifier.urihttp://hdl.handle.net/10523/1076
dc.description.abstractThis paper documents expropriation of foreign direct investment (FDI) across all developing countries for the 1993-2006 period, extending work by Kobrin (1980, 1984) and Minor (1994). This unique data set on worldwide expropriation between 1960 and 2006 is used to highlight several (interrelated) stylized facts. First, although expropriations have become less frequent compared to the 1970s, the number of takings has risen since the mid-1990s. Second, foreign firms are more vulnerable to expropriation in resource-based sectors, particularly in mining and petroleum. Third, the timing of expropriation coincides with fluctuations in mineral output price levels. Finally, when newly constructed FDI stock estimates are used to compare the sectoral distribution of FDI of recent expropriating countries to that of non-expropriating countries, we find that expropriating countries have a higher average share of aggregate FDI located in resources; however, this difference is not reflected in average sector production shares. This last fact is puzzling given that natural resource-based FDI has traditionally been considered high risk.en_NZ
dc.format.mimetypeapplication/pdf
dc.publisherDepartment of Economics, University of Otagoen_NZ
dc.relation.ispartofseriesEconomics Discussion Papers Seriesen_NZ
dc.relation.urihttp://www.business.otago.ac.nz/econ/research/discussionpapers/index.htmlen_NZ
dc.subject.lcshHB Economic Theoryen_NZ
dc.titleExpropriation of Foreign Direct Investments: Sectoral Patterns from 1993 to 2006en_NZ
dc.typeDiscussion Paperen_NZ
dc.description.versionPublisheden_NZ
otago.bitstream.pages48en_NZ
otago.date.accession2010-10-26 20:47:55en_NZ
otago.schoolDepartment of Economicsen_NZ
otago.openaccessOpen
otago.place.publicationDunedin, New Zealanden_NZ
dc.identifier.eprints952en_NZ
otago.school.eprintsEconomicsen_NZ
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