@phdthesis{oai:ynu.repo.nii.ac.jp:00007690,
 author = {Heo, Ji Hyun},
 month = {Sep},
 note = {This dissertation is comprised of three empirical research papers forstudy of determinants of FDI (Foreign Direct Investment). Chapter oneidentifieswhether Korean outbound FDIis affected by environmental regulation and agglomeration effects. Following the pollution haven hypothesis, stringent environmental regulation in a host country detersFDI inflows.In other words, countrieswith regulationslowerthanthesocial efficientlevel attracts FDI inflows from countrieswith high regulations. Chapteroneadopts the regression model by Wagner and Timmins (2009) whichtake into consideration the agglomeration externalities. Therefore, this chapter utilized industrylevelofFDI outflows from Korea in considering agglomeration effect and environmental regulation.The OLS estimator and the Arellano-Bond estimator were utilized as econometric tools. As expected, the OLS results suggested that both agglomeration and environmental regulationssignificantly affectthe Korean manufacturing FDI.This result indicates that Korean FDI is affected by lower regulations whichisconsistent with the prediction of the pollution haven hypothesis. However, results of the Arellano-Bond estimator suggested that agglomeration played an important factor in attracting FDI, but environmental regulationsshowedno impact. In chapter two, I investigatedtherole of labor regulationson theKorean industry-level of FDI outflows. Toanalyze the race to the bottom hypothesis, this paper utilizestwo types of labor standards for bothdeveloped and developing countries. Moreover, this chapter divides the Korean FDI outflow data into fourdifferent groupsto find further information. Chapter two adopts the regression model by Olney(2013) whichtake into consideration the lagged independent variables. Toanalyze the race to the bottom hypothesis, this chapter utilizestwo types of labor standards for bothdeveloped and developing countries. Moreover, this paper divides the Korean FDI outflow data into fourdifferent groupsto find further information: (1) the IMF Supervision periods, (2) factor intensity, (3) concentration by the top five companies’sales share and (4) combination of factor intensity and concentration. This chapter also utilized industrylevelFDI outflows from Korea. The empirical results suggestthat labor standard show negative coefficientsconstantly as expected,but only significant in employment protection. In cooperationwithProfessor Chan-Hyun Sohn, chapter three investigatedthe effect of both bilateraland comprehensiveFTAs on FDI inflows. Using the knowledge capital model by Carr et al. (2001), this chapter develops new continuous bilateral FTA variables. In addition, comprehensive FTA variables and FTA decomposition for trade cost and investment cost were generated for identifying thateffectsof FTAs on FDI. Furthermore, this chapter utilizes bilateral FDI data from OECD by four different sample groups. As expected, OLS regression results suggested that FTA has a positive and statistically significant effect on FDI inflows. Also, almost all explanatory variables are showing theexpected sign. However, WLS estimator found weaker evidence of FTA that only whole and North-to-North group show significance. This result consistently shows with theFTA decomposition results. Finally, the result of PPML and binary FTA variables also provides a weak effect of FTAs on FDI inflows.},
 school = {横浜国立大学},
 title = {Three essays on the determinants of FDI},
 year = {2016}
}