Kinoshita, Yuko; Campos, Nauro F. - Siirtymätalouksien tutkimuslaitos, Suomen Pankki - 2004
This paper investigates the importance of factor endowment vis-à-vis institutions in explaining the locational choice of foreign investors during the 1990s. Using dynamic panel estimation on data for transition economies, we find that low labour costs, bureaucratic efficiency...