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ﾉ{Z診«Y | ﾉZﾅ ﾂ険 G77 ﾃ

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=*$RML$ ?*NO ?',0 %&' 8P"Q& !;&4*"D 8+=*1 J"K-L& ?='HI56*&,3 GH+ .!B*08& 8+=*1 J"K-L&
R %"D':A !;&4*"D %&' 8P"Q& %-B'( ?',0 .!;$8& ,6H7)*9&' '= 56*&,3 8C(4*0 R 56*&,3 >#I4*0 ',64 !B*08&
.J"B*08& =*$RML$ ?',0 >3=( S'=,K&
=( ?(*@-A' !B= R =*$RML$ S'=,K& U8+=*1 J"K-L& ?='HI56*&,3 %"0 5P0'= !B 823 .CRT7 %6' =(
.>3' 5-O,I S=:X *-6( YD*7 V!& 4' (*Z-3' *0 52[*P& %6' .(,"I =',A 83=,0 (=:& 2010 *F 2004 ?*CV*3 8W
>3!0 ^6*-D .!B*08& G77 ?*C=:#$ 4' M/-;& =:#$ 19 Y&*B U.CRT7 %6' =( !B (*Z-3' ?=*&\ 5D:]D
?(*@-A' !B= ,0 ,"1EF =R( R( *0 G77?*C=:#$ =( 8+=*1 J"K-L& ?='HI56*&,3 )'_"& 5$ !C(8& )*#D !&\
!B= ,0 ?='(*;2& R >`a& ,"bEF ,"1EF =R( c6 *0 %"D':A >"]$*d %";e]C .(='( ?='(*;2& R >`a& ?,"bEF
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*-6( YD*7 U?(*@-A' !B= U=*$ R ML$ ?*NO U%"D':A >"]$*d U8+=*1 J"K-L& ?='HI56*&,3 :9?.F( G";H,&
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E.Mail:[email protected]
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R n*KF=' R (*@-A' 5X,< =( 8X:@1 ./0 >$=*#& 5`;+ >6:KF >h+ =( 83*3' R >`a& 8&*I *h;F 5D 8D*h+
8j$ =:W 50 R *C *f;0 (,9j]< (:`h0 !0*"D (:`h0 =*$RML$ ?*NO 5$8&'(*& .>3' =:#$ 50 ?=R*;O (R=R Y"hLF
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50 8]3= ?*C *f;0 ?',0 R 8]3= 8[*& %"&*F s0*;& 4' )!D*& iR,Q& 8;2& 50 8]3=,"o ?(*@-A' )r*2O ?',0
?',0 T6R 50 =*$RML$ S'=,K& >[:h3 >"]C' .>3' 8]3=,"o )r*2O *0 J[*3*D >0*A= =( %-O,I =',A i:hZ&
?',0 5"3R= R ?_[*& U%"t U80:;+ ,$ ):t 86*C=:#$ 5$ >3' ?!d 50 (SMEs) q3:-& R ct:$ ?*C *f;0
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?='HI56*&,3 ,"b*F 83=,0 R ?(*@-A' !B= ,0 =*$RML$ S'=,K& ,"b*F 83=,0 5[*K& %6' 8jX' u'!C'
Up(gf;0 U%"-D'v=\ U,6'_w[' Y&*B G77 M/-;& ?*C=:#$ =( ?(*@-A' !B= ,0 (FDI) 8+=*1 J"K-L&
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4' 5-3( %6' 5`F= 5-L+,0 )*D'(*@-A' %]wD' 2010 V*3 p='_I k*3' ,0 ?=:W50 .!;B*08& ='(:1,0 zP3
.!B*08& 3/96 *F 5/42 %"0 =*$RML$ ?*NO =( ?*C=:#$
R %"D':A >"]$*d )'_"& .(:B ('( |3*7 V':3 %6' 50 5[*K& %6' =( *F !B %6' ,0 823 =:{;& %"]C 50
5[*K& %6' ?',0 ,64 ?*C5"},O k*3' %6' ,0 ~(:B8& ?(*@-A' !B= M+:& 5D:ft 8+=*1 J"K-L& ?='HI56*&,3
:!B*08& ,{D !&
.(='( ?='(8;2& R >`a& G77 M/-;& ?*C=:#$ =( %"D':A >"]$*d )'_"& *6\ -1
G77M/-;& ?*C=:#$ =( =*$RML$ S'=,K& )(:0 >/3 )'_"& R 8+=*1 J"K-L& ?='HI56*&,3 )'_"&
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83..........G77 ?*C=:#$ =( ?(*@-A' !B= ,0 8+=*1 J"K-L& ?='HI56*&,3 R =*$RML$ S'=,K& ,"bEF 83=,0
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8[R >3' *C *f;0 )\ S=!A R qjLF 4' †=*1 5$ >3' ?(*@-A' ?*C *f;0 =*$RML$ ,0 ,b:& ?*C,"…-& =*$RML$
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%6,FJh& 4' .!B*08& 8j1'( 4'!D'y7 ?',0 8j]9& )':;< 50 8+=*1 8[*& s0*;& .((,I %"&*F 8+=*1 *6 8j1'( s0*;&
.>3' 2(FDI) 8+=*1 J"K-L& ?='HI56*&,3 8+=*1 8[*& s0*;& (R=R ?*C '=
)(,0r*0 U!6!+ .D'( U4R= ?T :[:;9F U56*&,3 GH+ Y&*B (FDI) 8+=*1 J"K-L& ?='HI56*&,3 !6':O
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!B= U*C>1*3,64 U(*@-A' )(:0 4*0 U56*&,3 >#I4*0 ‡,D Y"`A 4' ?(*64 Y&':< s0*F 8+=*1 J"K-L& ?='HI56*&,3
R >[R( 8[*& s}R U8+=*1 8C!0 U4=' ‡,D Ui=:F U8D*LD' 56*&,3 U82"`W s0*;& U8j1'( ?='HI56*&,3 U?(*@-A'
.!B*08& ='4*0 4'!D'
%"D':A >"]$*d )'_"& R S'=,K& >"2}R (FDI) 8+=*1 J"K-L& ?='HI56*&,3 ,0 ,b:& =*"L0 (=':& 4' 896
56*&,3 (R=R ?',0 82D*& S=:X50 !D':F8& 8`LD =:W50 S'=,K& .!B*08& ?='HI56*&,3 )*0_"& ?*C=:#$ =(
8+=*1 )'='HI56*&,3 JC R 8j1'( )'='HI56*&,3 '= ,3 ,0 !D':F8& JC 5$ 82D*& .!B*0 !"[:F 5X,< 50 )'='HI
?',0 ?' _"fD' ,f6( U!B*0 ƒ:;]& =:#$ Y1'( ?*C86'='( ,0 )*"+=*1 >"9[*& ,I' ga& .!B*0 (,F!6!B S=:X50)
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5$ !B !C':1 ‰<*0 =*$RML$ 50 †R,1 R (R=R =:{;&50 ,"I *7R>3( %"D':A .C*$ R S*`b*0 %"D':A ˆ*/F'
.(='Hf0 )*0_"& ?(*@-A' !B= ,0 8-`a& S',b' R !B ,-#"0 )*0_"& (*@-A' 50 !B (='R 8+=*1 )'='HI56*&,3 ('!2F
-8& ?4'!D' '= )*0_"& =:#$ (*@-A' =( 8+=*1 J"K-L& ?='HI56*&,3 )':;< >QF 5$ 8+=*1 ?*C *f;0 Šr:X'
!;6\,O =( 8j1'( ?*C *f;0 50 >`LD ..... R %6:D 8-6,6!& ?*CpR= R ,F5-O,#"7 ?=R*;O 4' 8`LD =:W50 !D:B
1. Fisher 1990
2 .foreign direct investment
(1391 7"$8,9 61 /3"45 /012) !"#$%& '()* +,"-)#. …………….……….……….…84
?*C *f;0 )*"& !D4*3 Y&*2F R )*0_"& (*@-A' =( 8+=*1 ?*C *f;0 Jh3 .6'_O' *0 R !;B*08& !;& ,h0 !"[:F
50 ,w;& >6*hD =( 5$ (='( .... R *C(_]-3( zP3 U='4*0 =*-1*3 U=*$?R,"D S=*h& ,0 8-`a& S',b' 8+=*1 R 8j1'(
.(44U45mX U1390U*"D8[R) (:B8& =:#$ )\ ?(*@-A' !B= R )*0_"& =:#$ =( !"[:F (:`h0
!;6',O i*wD' =( 5$ >3' 86*C5;6_C U8[*& ?*C5;6_C .!B*08& 8D*&4 R 8[:7 S=:X R( 50 S'=,K& ?*C5;6_C
!;D*& ((,I >1'(,7 !6*0 !"[:F Y&':< 4' ,"o 8j&':< 50 U?='HI56*&,3 4' ?='(,0 ,h0 V:W =( *6 R ?='HI56*&,3
,-#"0 !"[:F Y&':< 50 !6*0 ):D*A k*3',0 5$ 86*C5;6_C *6 R ((,I >1'(,7 !6*0 >$,B >`b ?',0 5$ 86*C5;6_C
... R %9L& d S=:X 50 !6*0 =*$ ):D*A k*3',0 5$ 86*C5;6_C !;D*& ((,I >1'(,7 !"[:F J"K-L& 5;6_C 4'
Y"]QF )*&4 )('( >3( 4' Y"[( 50 U)'='HI56*&,3 50 5$ >3' 86*C5;6_C UJC 8D*&4 ?*C5;6_C .((,I >1'(,7
:(,]B ,0 5D:I %6' )':F8& '= =*$RML$ ?*NO =( S'=,K& )(:0 r*0 8Z;& S',b' 4' 8N20 .(:B8&
4' _6,I *6 S'=,K&4' 8B*D ?*C5;6_C 4' =',O ,W*1 50 5$ *"3 ='4*0 (*w6' R (*@-A' 8]3=,"o ./0 )!B ‹=_0 .!6\8& (:+R50 US'=,K& J1RŒ"7 ,7 Yd',&
.=:#$ ?(*@-A' !B= .C*$ R =:#$ =( ?=*9"0 )'_"& %-O= r*0 )\ s`F 50 R (*@-A' =( ?='HI56*&,3 .C*$ -.[*t 86*3*;B R =*$RML$ ?*NO S'=,K& (:`h0 G:t=*t €:@1=( p*9;$ 50 1=*$RML$ ?*NO p='_I
5 M[*A =( 2003 V*3 =( =*$RML$ ?*NO p='_I %"[R' .(4'(,78& =*$RML$ >"2}R *KF=' >h+ (:+:& ?*C
?*C=:#$ ('!2F R !"3= m1*B 11 50 p('!2F ,}*d V*d =( 5$ U!B 5"hF =:#$ 133 (=:& =( R m1*B
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=( Y6ˆ l,B50 >"9[*& Ž:Kd 4' >6*]d R =*$RML$ S'=,K& 50 :0,& 8]$ ?*Cm1*B 2010p='_I =(
:>3' 5-O,I =',A 5L6*K& (=:& )*h+ ?*C=:#$ )*"&
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1
1. doing business report
2. starting a business
3. dealing with construction permits
4. Employing workers
5 .Registering property
6. Getting credit
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50 )':F8& (='HI8& ,"b*F )\ 50 (R=R R =*$RML$ ?*NO ,0 5$ 8;"D':A 4' 8N20 r*0 ?*Cm1*B k*3',0
R 8f-L9B=R ):D*A U>"9[*& 50 :0,& %"D':A US*"[*& ):D*A U8<*]-+' %"&*F ):D*A U?=*9"0 ):D*A U=*$ ):D*A
!"[:F ?*NO 50 8X:@1 ./0 (R=R '= ,3 ,0 82D':& S=:X 50 %"D':A 8D'R',O %6' .(:]D =*B' S=*wF ):D*A
R 8j1'( )'='HI56*&,3 U?='HI56*&,3 ?',0 '= '= U%"D':A %6' 4' 81,0 lgX' *6 uHd *0 )':F8& 5$ >3' =:#$
i*wD' 8D:D*A Yd',& ('!2F 59;6' VR' .(,"I,0=( '= Jh& 8IT6R 53 !6*0 (:+:& %"D':A lgX' .(,$ =':]C 8+=*1
!0*6 .C*$ %9]& !d *F ):D*A (*w6' 4' 8B*D ?*C5;6_C !6*0 !20 5jd,& =( .!0*6 .C*$ )*9&' !d *F >"[*2O c6
.!0*6 .C*$ 8D:D*A !;6',O c6 ?',+' )*&4 S!& 5]C 4' ,FJh& R
R (:0 =*"B:C =*$RML$ ?*NO S',""…F 50 >`LD !6*0 =':]C 8-0*A= >6_& Zd R ML$ ?',0 *f;0 c6
R !C( i*wD' !6!+ ?_6=5&*D,0 iR_[ S=:X =( R ('( ,""…F 8-3=(50 '= (:1 ?*C?TF',-3' !D':-0 *F !;$ !X= '= )\
.(='( (:+R *f;0 q3:F =*$RML$ ?*NO 83=,0 ?',0 86*CpR= *-3'= %6' =(
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?*C>"[*2O ,0 5$ >3' (,$ „6,2F 8F'=,K& R ?(*hD U8A:Kd q6',B U*C>3*"3 4' 5<:]w& '= =*$RML$ ?*NO
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>$,B q3:F !B 8d',W m1*B U=*$RML$ ?*NO ?=:O y9< U?(*@-A' ?('4\ m1*B U83*"3 cL6=
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1. Protectinginvestors
2. Payingtaxes
3. Tradingacrossborders
4. Enforcingcontracts
5. Closing abusiness
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8D*h+ cD*0 =( 2004 V*3 =( )*h+ ?*C=:#$ =( =*$RML$ ?*NO >[:h3 83=,0 vR,7 :=*$RML$ i*wD'
?',0 '= 8X:@1 ./0 523:F ?R4*0 .KD vR,7 %6' ?,w& )':;<50 (IFC) 8jj]['%"0 8[*& 5L3:& (=:1 !"j$
)'='HI56*&,3 ?',0 5L3:& %6' q3:F !B ig<' ?*C=*&\ 5$ 86r*0 =*`-<' Y"[(50 R !;$8& *Z6' 8D*h+ cD*0
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%]P& 86*];C'= 8+=*1 )'='HI56*&,3 ?',0 U5L3:& %6' ?:3 4' !B ig<' ?*C=*&\ R *C?!;05`F= 59;6' %]}
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R ?(*@-A' cL6= ,0 ?(*64 !"$*F m1*B %6' .!B ,#-;& !;$8& >"[*2O )!;[ 2>L"&:D:$' 56,#D S=*{D >QF
m1*B %6' 8jX' =:-$*O ( .(4'(,78& *C=:#$ !;6\ q6',B 8;"0 ."7 50 R 5-B'( ?=*wF ?*C>"[*2O 8<*]-+'
U>0*A= R ('4\ S=*wF 50 u:P2& ?*C>3*"3 U='4*0 ?*C>X,O U)g$ (*@-A' q"Q& U83*"3 q"Q& : 4' !;F=*`<
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%6' 4*"-&' !;;$%""2F *hD\ %"fD*"& 5$ >3' 86*C5<:]w&,64 ?'='( 8jX' =:-$*O ( %6' 4' i'!$ ,C .*C>1*3,64
!X=( 50 5$ (:B8& (*Z-3' 8`"$,F m1*B %6' 5`3*Q& =( m1*B 70 ƒ:]w& =( R !B*08& *C=:-$*O
.((,I8& 5"hF )*&4*3 %6' 8#6*]"7 S*2[*P& k*3',0 _"D !X=( 50 R *C=:#$ 8]3= ?*C=*&\ 4' *hD\ S*<gW'
q"Q& ,-#"0 >"Z"$ !;C()*#D !B*0 ,-#"0 =:#$ c6 4*"-&' 5t ,C 5$ !B*08& ( *F ,ZX %"0 m1*B %6' ,]D
%6,-h0 R %6,F!0 VR!+ 5&'(' =( .((,I8& „6,2F )*h+ =:#$ 82 ?',0 m1*B %6' .!B*08& =:#$ )\ =*$RML$
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1. Economist Intelligence Unit
2. Economist
3. International Country Risk Guide
4. The Heritage Foundation
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1. Institutional Investor
2. Regulatory Quality Indicator
3 .World Bank Group Governance Indicators
4. Control of Corruption
5. Doing Business Rank
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1.Corruption Perception Index
2.Transparency International
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1. Rate Return to Investment
2. Political Rights
3. Shneider and Frey
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1. Ngowi
2. Infrastrure
3. Corruption and Buraucratic Red Tape
4. Rivlin
5. Transparency International institute
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?='HI56*&,3 Jh& )*I!;;$GH+ 4' !6( p4:&\ =*$?R,"D (:+R >j< 50 !;[,6' ?=:h]+ V*a& ?',0 .(2001
?,"I 4'!D' )go*B Y$ 50 8[*< Sg"@QF *0 )go*B >`LD 5j"3R 50 8D*LD' 56*&,3 .>3' (:0 8+=*1 J"K-L&
.!B*0 5-B'( 8+=*1 J"K-L& ?='HI56*&,3 )*6,+ *0 >`a& *`F=' m1*B %6' !6*0 ?=:F `W 5$ (:B8&
J"K-L& ?='HI56*&,3 )*6,+ ,0 )*0_"& =:#$ ?='HI56*&,3 ‡,D J";$ ’,O ,I' : 22F6,< 9',:; !"#$%
=*$RML$ ?',0 i(,& .6',I 4' 80*F4*0 8j1'( ?='HI56*&,3 ‡,D .J6' (:];D 8KP;& ,"o ’,O >3' ,b:& 8+=*1
5x'=' =:#$ =( ?='HI56*&,3 q"Q& 4' 8F*<gW' %";e]C ,"…-& %6' .!B*08& (*@-A' !;6\ 50 *C)\ (*]-<' R
)*6,+ zP3 ?,6H7,""…F 4' 8Q"}:F 5$ YK-L& ,"…-& c6 )':;< 50 8j1'( ?='HI56*&,3 %6',0*;0 .!C(8&
=( 8j1'( ?='HI56*&,3 8-AR J6='( =*{-D' UR= %6' 4' .(:B8& (*Z-3' U!B*08& 8+=*1 J"K-L& ?='HI56*&,3
.!B*0 r*0 _"D 8+=*1 J"K-L& ?='HI56*&,3 )*6,+ (='( =',A 86r*0 zP3
1. Human Capital
2. Domestic Investment
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b.-S1 9"@$.c8# ?M&' 2%'$3 .3
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.J64'(,78& 2010 *F 2000 ?*h[*3 8W =( G77 ?*C=:#$ R )',6' =:#$ =( 5]$*d !DR= 83=,0
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2005
2006
2007
2008
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G77 !"#$ %&'(#) &*"#&' !0.2823 !0.3047 !0.3115 !0.3253 !0.3223 !0.3374 !0.3243
+,&+ ,- !"#$ %&'(#) -"!, !0.5073 !0.7471
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J6g& =*"L0 !DR= c6 G77 ?*C=:#$ =( ):D*A >"]$*d !DR= 5$ (:B8& !C*#& 1-1 ='(:]D 50 5+:F *0
8[R_D S=:X 50 )',6' =( %"D':A >"]$*d !DR= *&' .!B*08& )*&4 50 4*"D ):D*A >"]$*d S',""…F ?',0 ',64 .>3'
,f6( 4' .(:`h0 50 R= *F !B*08& )!B ,F!0 50R= )*&4 8W =( )',6' =( %"D':A >"]$*d !DR= 8F=*`< 50 !B*08&
?*C=:#$ =( .(,$ =*B' =:$H& ?*C=:#$ =( %"D':A >"]$*d ƒ:D 50 )':F8& ='(:]D %6' =( 5+:F Y0*A S*9D
%6' ?',0 i4r ?*C(*hD R >"]$*d ƒ:D ,-h0 8F=*`< 50 .!B*08& 8Z;& %"D':A >"]$*d )'_"& )',6' =( R G77
.!B*08& 8Z;& *C=:#$
93..........G77 ?*C=:#$ =( ?(*@-A' !B= ,0 8+=*1 J"K-L& ?='HI56*&,3 R =*$RML$ S'=,K& ,"bEF 83=,0
G,$!, & G77 9"@'AB( '< 25'"6 7.-8*# 9',:; !"#$% ?M&' *!"-# .2-1 ',<A^M
4
3
2
1
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2001
2002
2003
2004
2005
2006
2007
2008
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2010
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G77 ./,#0 1&234' 5,+67 8&#',4 -9,
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8BgF Œ"C *CV*3 %6' 8W =( *h-D 5$!B*08& ƒ:}:& %6' !;C()*#D 5$ >3' 8Z;& =':]C 2004-2001
4' 8+=*1 J"K-L& )'='HI56*&,3 †R,1 ‰<*0 59j0 5-O,fD S=:X 8+=*1 ='HI56*&,3 GH+ ?*C5;"&4 >h+
)'_"& 2005-2004 V*3 8W =( %";e]C .!C(8& )*#D '= 8Z;& !B= U!B= )'_"& 5$ ?=:W50 !B JC =:#$
?='HI56*&,3 )'_"& !X=( 8 V*3 c6 %6' 8W =( 5$ ?=:W50 !B*08& G:1 =*"L0 ?!B= 5$ >`a& !B=
*0 8+=*1 J"K-L& ?='HI56*&,3 !B= )'_"& 2006-2005 V*3 =( 5$ 8[*d =( .>3' 5-B'( !B= 8+=*1 J"K-L&
Š*`6,KF )',6' =( 8+=*1 J"K-L& ?='HI56*&,3 !B= )'_"& 2009 -2006 V*3 =( .>3' !B R=50R= :K3 !X=(4
?='HI56*&,3 GH+ >h+ 8&'!A' Œ"C *CV*3 %6' 8W =( !B*08& ƒ:}:& %6' !;C()*#D 5$ !B*08& ,ZX
2005-2002 ?*h[*3 8W ?(*@-A' !B= )'_"& G77 ?*C=:#$ =( .>3' !#D )',6' =( 8+=*1 J"K-L&
5-B'( 8Z;& ?!B= 8+=*1 J"K-L& ?='HI56*&,3 !B= )'_"& 2009-2005 ?*h[*3 8W R !B*08& ?(:2X
(1391 7"$8,9 61 /3"45 /012) !"#$%& '()* +,"-)#. …………….……….……….…94
%6' =( 8D*h+ (*@-A' )',Q0 )':F8& '= )\ Yj< 4' 896 .!D' !B 5+':& ?='HI56*&,3 †R,1 *0 ,-h0 8F=*`<50
5+':& .C*$ *0 *"D( ?*C=:#$ ,a$' =( 8+=*1 J"K-L& ?='HI56*&,3 !DR= ?=*"L0 !B ‰<*0 5$ >LD'( *CV*3
=( 8+=*1 J"K-L& ?='HI56*&,3 8Z;& R J$ =*"L0 )'_"& 50 )':F8& ='(:]D %6' =( ,f6( 5+:F Y0*A S*9D 4' .(:B
=( ?='HI56*&,3 (:`]$ !]< Yj< 4' 896 1-1 ='(:]D 50 5+:F *0 .(,$ =*B' )',6' R G77 ?*C=:#$ (*@-A'
-)*;"]W' (:`D R ?(*@-A' S*`b i!< (:+R ‰<*0 5$ %"D':A >"]$*d !0 ƒ:D )':F8& '= G77 ?*C=:#$ R )',6'
.>LD'( 56*&,3 >#I4*0 R ?='HI56*&,3 ?',0 i4r ?*C(*hD (:`D ,-h0 8F=*`< 50 *6 R i4r ?*C
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0.09
0.08
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0.06
0.05
0.04
0.03
0.02
0.01
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2001
2002
2003
2004
2005
2006
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2007
2008
2009
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+,&+ ,- .;0+- <=#0#" -&=!3
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V*3 =( G77 ?*C=:#$ =( 8j1'( m[*1*D !"[:F !B= )'_"& (:B8& !C*#& 3-1 ='(:]D =( 5$ =:W)*]C
.C*$ 50 ƒR,B 8+=*1 J"K-L& ?='HI56*&,3 !B= .C*$ R *"D( =( ?(*@-A' )',Q0 ƒR,B *0 )*&_]C 2007
)!B ,-h0 *0 2010 V*3 =( .>3' 5-B'( .C*$ 8+=*1 ?='HI56*&,3 )'_"& 5$ 2009 V*3 *F R >3' (,$
!C*#& ='(:]D =( %";e]C .>3' 5-O*6 .6'_O' !DR= %6' 8+=*1 J"K-L& ?='HI56*&,3 .6'_O' R ?(*@-A' ƒ*}R'
*F 2005 V*3 =( R >3' 5-B'( .C*$ ?!DR= 2005 *F 2002 V*3 4' )',6' =( m[*1*D !"[:F !B= )'_"& (:B8&
)',6' =( S*D*3:D %6' !]< Yj< 4' 896 .8#C*$ ?!DR= 2010- 2007 ?*h[*3 8W =( R ?(:2X ?!DR= 2007
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95..........G77 ?*C=:#$ =( ?(*@-A' !B= ,0 8+=*1 J"K-L& ?='HI56*&,3 R =*$RML$ S'=,K& ,"bEF 83=,0
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.!B*08& ='HI,b' !"[:F Y&':< ?=R ,h0 ,0 8+=*1 ?='HI
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.!B*08& ,b:& S!& !;j0 =( 8+=*1 J"K-L& ?='HI56*&,3 sO*;& 4' ,-#"0 ?!;& ,h0 =( ('4\
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1. Marta Bengoa, Blanca SanchezRobles
2. Norman V.loayza
3. Ana Maria Ovieda
4.Luis Serven
5. Matthias Busse
6. Juse Luis Groizard
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$+1 hJ* < +,&AH. -0/00014 5A*5A f+.c EF$:A 6J5i :I]J* :A :M!;&A .+,&AH. :K!dt %$&'()* +, 5A 5>?(.
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(EMP) 0!C,/' .2-2-6
5>?(. -*C>. h>]jLV +,&AH. log B&?(,* gP(7. 5>?(. %*5A [>P\; hJ* $ &. rA&; :#hJ* :A :M!; &A
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(FDI) DK#!L M8N,91 #'OPA=!1(6 .5-2-6
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(1391 7"$8,9 61 /3"45 /012) !"#$%& '()* +,"-)#. …………….……….……….…100
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(8PAQ8,H .7
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(1391 7"$8,9 61 /3"45 /012) !"#$%& '()* +,"-)#. …………….……….……….…102
R)!S1
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." &#
"%$&'()* +, 5A &#< 67# %&89 5@* HF 5A" a(1390) f$*/+L\. %+e. < 0+P. HK&)59 .
9. About doing business 2009 a world banka 2008
10. Busse, mattias and Juseluisgroizard(2005), ‘FDI, Regulation and
Growth’ , An Amprical Analysis.
11. Busse, mattias and Juseluisgroizard(2008), ‘FDI, Regulation and
Growth’ , An Amprical Analysis.
12. Doing business 2010(islamicrepablik of iran)aworld banka2009
13. Loayza Norman V; Oviedo, Ana María And Servén, Luis, (2005) , The
Impact Of Regulation On Growth And Informality: Cross-Country Evidence
, World Bank’s Latin America.
14. Morrisset P. (2000), “Foreign Direct Investment to Africa: Policiesalso
matter”, Trans-national Corporation, Vol. 9(2), PP: 107-125.
15. Ngowi H. P. (2001), “Can Africa Increase its Global Share ofFDI?”,
West African Review, Vol.2(2): PP:1 – 22
103..........G77 %&V !"# $ %$&'()* +, 5A HM &N O>P(7. % *QR:J&.5F < &#<67# =* 5P. 5>@U; HF 5A
16. Rivlin P. (2001). Economic Policy and Performance in the Arab
World,London: Lynne Renner.
17. www.worldbank.org
18. WWW.UNCTAD.org
(1391 7"$8,9 61 /3"45 /012) !"#$%& '()* +,"-)#. …………….……….……….…104
:56$8T
Redunda
nt Fixed
Effects Test cross-section fixed effects
Tests
Pool:
FIXED
Prob.
0.0000
d.f.
Statistic
Effects Test
(18,71)
839.51075
8
Cross-section F
Cross-section fixed effects test equation:
Dependent Variable: LOG(GDP?)
Method: Panel EGLS (Cross-section weights)
Date: 06/24/12 Time: 12:42
Sample (adjusted): 2006 2010
Included observations: 5 after adjustments
Cross-sections included: 19
Total pool (balanced) observations: 95
Use pre-specified GLS weights
White cross-section standard errors & covariance (d.f.
corrected)
WARNING: estimated coefficient covariance matrix is of
reduced rank
Prob.
Coefficien
t-Statistic Std. Error t
Variable
0.0000
0.2258
0.0000
0.0000
13.61823
-1.219732
25.62202
5.346622
0.384098
0.021181
0.029417
0.000545
5.230732 C
-0.025835 LOG(EMP?)
0.753730 LOG(CAP?)
0.002913 RUL?(-1)
105..........G77 41@!AB+ !; 4;1<7=- >?! "# $9!1: 8(.7*/ 4!-56231/" 0 !1+0)*+ ,-!"./ "(%&' $ !"#
0.8277
0.5635
0.218259 0.000325 7.10E-05 DB?
-0.579887 0.008372 -0.004855 LOG(FDI?(-2))
Weighted Statistics
32.1677
Mean
dependent
8
var
0.806688
10.6400
S.D. dependent var 0.795828
5
15.7070
Sum squared resid 0.420099
2
0.03435
6
Durbin-Watson stat 74.27916
0.000000
R-squared
Adjusted
squared
R-
S.E. of regression
F-statistic
Prob(F-statistic)
Unweighted Statistics
25.4541
Mean
dependent
0
var
0.819495 R-squared
0.02728
9
Durbin-Watson stat 12.47493 Sum squared resid
(1391 7"$8,9 61 /3"45 /012) !"#$%& '()* +,"-)#. …………….……….……….…106
Correlated Random Effects - Hausman Test
Pool: FIXED
Test cross-section random effects
Prob.
Chi-Sq.
d.f.
Chi-Sq.
Statistic
0.0004
5
22.582591 Cross-section random
Test Summary
Cross-section random effects test comparisons:
Prob.
Var(Diff.)
Random
Fixed
Variable
0.0049
0.0000
0.1270
0.6814
0.0359
0.027284
0.000281
0.000000
0.000000
0.000018
0.344935
0.214719
0.004905
-0.000136
0.027822
0.809817 LOG(EMP?)
0.138020 LOG(CAP?)
0.003945 (RUL?(-1))
-0.000119 DB?
0.018959 LOG(FDI?(-2))
Cross-section random effects test equation:
Dependent Variable: LOG(GDP?)
Method: Panel Least Squares
Date: 06/24/12 Time: 12:43
Sample (adjusted): 2006 2010
Included observations: 5 after adjustments
Cross-sections included: 19
Total pool (balanced) observations: 95
Prob.
Coefficien
t-Statistic Std. Error t
Variable
0.0000
0.0000
0.0035
0.0043
8.645931
4.474369
3.020682
2.949771
1.532234
0.180990
0.045692
0.001337
13.24759
0.809817
0.138020
0.003945
C
LOG(EMP?)
LOG(CAP?)
RUL?(-1)
107..........G77 41@!AB+ !; 4;1<7=- >?! "# $9!1: 8(.7*/ 4!-56231/" 0 !1+0)*+ ,-!"./ "(%&' $ !"#
0.6843
0.0459
-0.408272 0.000291 -0.000119 DB?
2.031523 0.009332 0.018959 LOG(FDI?(-2))
Effects Specification
Cross-section fixed (dummy variables)
25.4541
Mean
dependent
0
var
0.998737
0.85745
4
S.D. dependent var 0.998328
3.64910
Akaike info criterion 0.035066
1
3.00391
1
Schwarz criterion 0.087304
Hannan-Quinn
3.38839
criter.
197.3323
6
0.92992
6
Durbin-Watson stat 2440.613
0.000000
R-squared
Adjusted
squared
R-
S.E. of regression
Sum squared resid
Log likelihood
F-statistic
Prob(F-statistic)
(1391 7"$8,9 61 /3"45 /012) !"#$%& '()* +,"-)#. …………….……….……….…108
Dependent Variable: LOG(GDP?)
Method: Pooled EGLS (Cross-section weights)
Date: 06/24/12 Time: 12:45
Sample (adjusted): 2006 2010
Included observations: 5 after adjustments
Cross-sections included: 19
Total pool (balanced) observations: 95
Linear estimation after one-step weighting matrix
White cross-section standard errors & covariance (d.f.
corrected)
WARNING: estimated coefficient covariance matrix is of
reduced rank
Prob.
Coefficien
t-Statistic Std. Error t
Variable
0.0000
0.0000
0.0000
0.0000
0.0950
0.0002
9.710560
16.35630
6.616970
4.656715
-1.691927
3.898599
0.969514
0.062341
0.032503
0.000533
8.77E-05
0.001875
9.414526 C
1.019661 LOG(EMP?)
0.215070 LOG(CAP?)
0.002484 RUL?(-1)
-0.000148 DB?
0.007309 LOG(FDI?(-2))
Fixed
Effects
(Cross)
-0.053821 _ALG—C
1.163930 _ARG—C
-1.772855 _BAN—C
0.232141 _COL—C
0.857574 _DOM—C
-0.130446 _EGY—C
-1.920893 _IND—C
-1.216988 _INDO—C
-0.242673 _IRA—C
-0.089990 _MOR—C
0.103411 _PER—C
109..........G77 41@!AB+ !; 4;1<7=- >?! "# $9!1: 8(.7*/ 4!-56231/" 0 !1+0)*+ ,-!"./ "(%&' $ !"#
1.272737 _SAU—C
2.157784 _SIN—C
-0.504056 _THA—C
0.664001 _TUN—C
1.552409 _URU—C
0.786650 _VEN—C
-1.688020 _VIE—C
-1.170894 _PAK—C
Effects Specification
Cross-section fixed (dummy variables)
Weighted Statistics
32.1677
Mean
dependent
8
var
0.999096
10.6400
5
S.D. dependent var 0.998803
0.07345
4
Sum squared resid 0.032165
1.17003
5
Durbin-Watson stat 3411.578
0.000000
R-squared
Adjusted
squared
R-
S.E. of regression
F-statistic
Prob(F-statistic)
Unweighted Statistics
25.4541
Mean
dependent
0
var
0.998594 R-squared
0.80174
Sum
squared
3
Durbin-Watson stat 0.097197 resid
(1391 7"$8,9 61 /3"45 /012) !"#$%& '()* +,"-)#. …………….……….……….…110

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