This study aims to investigate the impact of human capital (HC) on foreign direct investment (FDI) in both developing and developed countries, offering a comparative analysis of the selected countries. The proposed model examines the significance of HC, proxied by literacy rates and educational attainment, and incorporates control variables such as market size, trade openness, institutional conditions, taxation, inflation, and population growth rate. The research model is tested using secondoary data obtained from International Monetary Fund (IMF), World Development Indicators provided World Bank, FreedomHouse database and The Tax Foundation Database. To check the relationship between the dependent variable FDI and HC measurements of Literacy rate and Educational attainment, a panel regression analysis based on the fixed effects (FE) model was conducted. Descriptive analysis was carried out in order to find correlations between different determinants, the importance of each determinant by running Gradient boosting regression, and have an understanding of the main characteristics and differences of different groups. The results of the analysis indicate that HC, literacy rates and educational attainment, have more importtant influence on FDI in developed countries compared to developing ones. On the contarary, economic factors like market size and trade openness are more crucial in attracting FDI to developing nations. The research highlights the dual role of HC and FDI, where HC enhances FDI attractiveness and FDI trigers HC development, especially in developing countries. This thesis helps to understand of how different levels of HC impact FDI, providing valuable insights for policymakers aiming to enhance FDI inflows through targeted improvements in educational and economic frameworks. The paper is structured to include theoretical frameworks, methodological approaches, data analysis, and implications, concluding with a synthesis of the research findings.
Questo studio mira a investigare l’impatto del human capital (HC) sugli foreign direct investment (FDI) sia nei paesi in via di sviluppo che nei paesi sviluppati, proponendo un’analisi comparativa dei paesi selezionati.Il modello proposto esamina l’importanza del HC, misurato tramite i tassi di literacy rates and educational attainmen, e incorpora variabili di controllo come la dimensione del market size, trade openness, institutional conditions, taxation, inflation, and population growth rate. Il modello di ricerca viene testato utilizzando dati secondari estratti dal Fondo Monetario Internazionale (FMI), dagli Indicatori dello Sviluppo Mondiale forniti dalla Banca Mondiale, dal database di Freedom House e dal Database della Tax Foundation. Per verificare la relazione tra la variabile dipendente FDI e le misurazioni del HC, come il come il tasso di alfabetizzazione e il livello di istruzione, è stata condotta un’analisi, è stata condotta un’analisi di regressione panel basata sul modello a Fixed effects (FE). È stata svolta un’analisi descrittiva per trovare correlazioni tra i diversi determinanti, valutare l’importanza di ciascun determinante eseguendo una regressione con boosting graduale e comprendere le principali caratteristiche e differenze dei vari gruppi. I risultati dell’analisi indicano che il HC, inclusi i tassi di alfabetizzazione e il livello di istruzione, ha un’influenza più significativa sugli IDE nei paesi sviluppati rispetto a quelli in via di sviluppo. Al contrario, fattori economici come market size and trade openness sono più cruciali per attrarre IDE nei paesi in via di sviluppo. La ricerca evidenzia il doppio ruolo del HC e degli FDI, in cui il HC aumenta l’attrattività degli FDI e gli FDI stimolano lo sviluppo del HC, specialmente nei paesi in via di sviluppo. Questa tesi aiuta a comprendere come diversi livelli di HC influenzino gli FDI, fornendo preziose intuizioni a favore dei responsabili delle politiche che mirano ad aumentare i flussi di FDI attraverso miglioramenti azioni mirate nei sistemi educativi ed economici.. Il documento è strutturato per includere framework teorici, approcci metodologici, analisi dei dati e implicazioni, concludendo con una sintesi dei risultati della ricerca.
L'impatto del capitale umano sugli investimenti diretti esteri: un'analisi comparativa tra paesi in via di sviluppo e paesi sviluppati
HARUTYUNYAN, TIGRANUHI
2023/2024
Abstract
This study aims to investigate the impact of human capital (HC) on foreign direct investment (FDI) in both developing and developed countries, offering a comparative analysis of the selected countries. The proposed model examines the significance of HC, proxied by literacy rates and educational attainment, and incorporates control variables such as market size, trade openness, institutional conditions, taxation, inflation, and population growth rate. The research model is tested using secondoary data obtained from International Monetary Fund (IMF), World Development Indicators provided World Bank, FreedomHouse database and The Tax Foundation Database. To check the relationship between the dependent variable FDI and HC measurements of Literacy rate and Educational attainment, a panel regression analysis based on the fixed effects (FE) model was conducted. Descriptive analysis was carried out in order to find correlations between different determinants, the importance of each determinant by running Gradient boosting regression, and have an understanding of the main characteristics and differences of different groups. The results of the analysis indicate that HC, literacy rates and educational attainment, have more importtant influence on FDI in developed countries compared to developing ones. On the contarary, economic factors like market size and trade openness are more crucial in attracting FDI to developing nations. The research highlights the dual role of HC and FDI, where HC enhances FDI attractiveness and FDI trigers HC development, especially in developing countries. This thesis helps to understand of how different levels of HC impact FDI, providing valuable insights for policymakers aiming to enhance FDI inflows through targeted improvements in educational and economic frameworks. The paper is structured to include theoretical frameworks, methodological approaches, data analysis, and implications, concluding with a synthesis of the research findings.File | Dimensione | Formato | |
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https://hdl.handle.net/20.500.14239/26168