Advances in Economics and Business Vol. 5(5), pp. 256 - 264
DOI: 10.13189/aeb.2017.050503
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"Emerging" through Foreign Investment: Investment Development Path Estimation of "MINT" Economies


Emine Beyza Satoglu *
Management and Global Business Department, Rutgers Business School, Rutgers University, USA

ABSTRACT

This article aims to analyze the relationship between the foreign investment, both inward and outward, and the development levels of the emerging market economies: Mexico, Indonesia, Nigeria and Turkey (MINT). Dunning's IDP (Investment Development Path) theory has been used as the basis for empirical analysis covering the recent globalization era: 1990-2013. The fixed effects longitudinal data analysis for the four countries demonstrated that MINT economies are at the 2nd stage of IDP. At the same time, increasing level of inward FDI flows into these countries prove the potential of these economies to be represented as "second generation of fast growing developing countries" after the BRICS. Thus, this study aims to improve our understanding on the emerging economies by focusing on a new group (MINT) and it demonstrates the interaction of inward/outward FDI and the GDP growth in that group of countries.

KEYWORDS
Investment Development Path, Outward/Inward Foreign Direct Investment, Emerging Economies, MINT

Cite this paper
Emine Beyza Satoglu . ""Emerging" through Foreign Investment: Investment Development Path Estimation of "MINT" Economies." Advances in Economics and Business 5.5 (2017) 256 - 264. doi: 10.13189/aeb.2017.050503.