Men hänsyn till uppsatsens syfte och frågeställningar kan slutsatsen vara att Kinas direktinvesteringsstockar har lett till en liten ökning av sysselsättningen i de här tio afrikanska länderna. Denna slutsats räknar med att det kan finnas andra faktorer än Kinas direktinvesteringsstockar som kunde ha påverkat sysselsättningen i de här tio afrikanska länderna under perioden 2003-2017.
De totala direktinvesteringsstockar och andra länders direktinvesteringsstockar har däremot haft en negativ effekt på sysselsättningen i de här tio afrikanska länderna men även i andra 20 utvecklingsländer.
Politisk stabilitet och befolkningsmängden har också haft en positiv effekt på sysselsättningen i de här tio afrikanska länder under samma period.
Sammanfattningsvis har effekten av Kinas utländska direktinvesteringsstockar, andra länders direktinvesteringsstockar och de totala direktinvesteringsstockar varit liten som i verkligheten inte kan iakttas i de här tio afrikanska länderna och även i andra 20 utvecklingsländer.
I framtida studier kan selektionsproblemet minska genom att inkludera andra faktorer som också påverkar sysselsättningen i de här afrikanska länderna. Ett antal variabler såsom utbildning och labor cost index kan studeras för att få ett tydligare resultat av effekten av utländska direktinvesteringar på sysselsättningen i utvecklingsländer. Även korruption och miljömässiga faktorer kan studeras vidare för att undersöka interaktionen mellan dem och utländska direktinvesteringar i utvecklingsländer.
40
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47
Appendix
I det här avsnittet beskrivs olika typer av utländska investeringar och skillnader mellan FDI och PDI.
Utländsk portföljinvestering (Foreign Portfolio Investment, PDI) refererar till investeringar i finansiella tillgångar utomlands. Dessa investeringar görs mest i aktier och obligationer i ett annat land och anses vara kortfristiga investeringar än utländska direktinvesteringar (Maverick, 2019).
Tabell A1. Skillnader mellan portfölj- och utländska direktinvesteringar
Utländska direktinvesteringar (FDI) Portföljinvesteringar (PFI)
Investeringar innebär ofta ett långsiktigt intresse i värdlandets ekonomi.
Investeringsnivån är hög som ofta görs av utländska multinationella företag, stora institutioner och riskkapitalföretag.
De kräver kontroll över verksamheten för hantering och riskbedömning, arbete och engagemang. FDI handlar om att bygga eller köpa företag och infrastruktur i värdlandet.
FDI är lämpliga för stora företag, institutioner och privata kapitalföretag.
Investeringar i ett annat lands finansiella tillgångar, till exempel aktier och obligationer.
De kan snabbt säljas och ses ofta som kortfristiga investeringar för att gå med vinst.
Till skillnad från FDI kräver FPI inte kontroll över den affärsenhet där investeringarna görs.
FPI kräver ofta mindre investeringskapital och forskning än FDI.
Källa: Maverick (2019)
Greenfield-investering är en annan form av utländska direktinvesteringar där ett moderbolag skapar ett dotterbolag utomlands och bygger sin verksamhet från grunden. Företag bygger upp sin anläggning enligt egna specifikationer, arbetskraften utbildas enligt företagsstandarder och produktionsprocessen kontrolleras hårt (Chen, 2019).
De 20 utvecklingsländerna är: Afghanistan, Bhutan, Burundi, Centralafrikanska Republiken, Colombia, Dominikanska Republiken, Ecuador, Fiji, Gambia, Haiti, Kamerun, Komorerna, Moçambique, Papua Nya Guinea, Rwanda, Senegal, Togo, Tunisien, Uganda, Östtimor.
48 Dessa korrelationsmatriser har skapats genom att använda Varians-kovarians matris (VCE) på Stata.
Tabell A2. Korrelationsmatris för de tio afrikanska länderna, Total FDI-stock
E(V) Total FDI- stock (log) Politisk stabilitet Inflation BNP/capita tillväxt Befolkningsmängd (log)
Kinas FDI-stock (log) 1,0000
Politisk stabilitet -0,3206 1,0000
Inflation 0,1487 -0,0683 1,0000
BNP/capita tillväxt 0,3431 -0,1380 -0,0538 1,0000
Befolkningsmängd (log) -0,5731 0,7087 -0,1413 -0,2959 1,0000
Tabell A3. Korrelationsmatris för de tio afrikanska länderna, Kinas FDI-stock, FDI-stock, övriga
E(V) Kinas FDI-
stock (log) FDI-stock, övriga (log) Politisk stabilitet Inflation BNP/capita tillväxt Befolkningsmängd(log)
Kinas FDI-stock (log) 1,0000
FDI-stock, övriga (log) -,04190 1,0000
Politisk stabilitet -0,2271 -0,1819 1,0000
Inflation 0,3578 -0,0305 -0,1403 1,0000
BNP/capita tillväxt 0,1479 0,2464 -0,1642 0,0007 1,0000
Befolkningsmängd (log) -0,3115 -0,3608 0,7245 -0,2326 -0,3234 1,0000
Tabell A4. Korrelationsmatris för 20 utvecklingsländer, total FDI-stock
E(V) Total FDI-
stock (log) Politisk stabilitet Inflation BNP/capita tillväxt Befolkningsmängd (log) Total FDI-stock (log) 1,0000
Politisk stabilitet -0,4190 1,0000
Inflation 0,1144 0,0682 1,0000
BNP/capita tillväxt 0,1031 -0,1838 -0,0674 1,0000
49 Tabell A5. LLC-stationäritetstest för samtliga variabler
Variabler Sysselsättning Kinas FDI-stock (log) FDI-stock, övriga (log) Total FDI-stock (log)
t-värde -9,631 -7,878 -8,173 -2,7322
Justerat t-värde -6,537 -2,398 -6,345 -1,9523
p-värde 0,0000 0,0082 0,0000 0,0254
Antalet paneler 30 30 30 30
Antalet perioder 15 15 15 15
Variabler Politisk stabilitet Inflation BNP/capita tillväxt Befolkningsmängd (log)
t-värde -7,343 -18,826 -12,272 -19,162
Justerat t-värde -2,465 -13,075 -3,782 -20,756
p-värde 0,0069 0,0000 0,0001 0,0000
Antalet paneler 30 30 30 30