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Title:Reverse FDI in Europe: an analysis of Angola's FDI in Portugal
Authors:Barros, Carlos PestanaISNI
Damásio, Bruno
Faria, Joao Ricardo
Year:2014
Periodical:African Development Review (ISSN 1017-6772)
Volume:26
Issue:1
Pages:160-171
Language:English
Geographic terms:Angola
Portugal
Subjects:foreign investments
international economic relations
imports
corruption
economic aid
Abstract:This paper analyses foreign direct investment (FDI) of Angola in Portugal. The reverse investment of African countries in Europe is a recent economic event that needs to be analysed, theoretically explained and empirically tested. A dynamic theoretical model is presented and a Bayesian model tests the model validating it. The results reveal that imports and corruption increase Angola's FDI in Portugal. Some variables negatively affect Angola's FDI in Portugal: lagged Angolan FDI, signifying an autoregressive negative effect in Portugal; the Portuguese official development assistance (ODA) to Angola, which are direct transfers from Portugal to Angola; and Angola's GDP. Policy implications are discussed. Bibliogr., notes, sum. [Journal abstract]
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