Abstract: Current state of foreign direct investment (FDI) in Georgia is analyzed and evaluated in the paper, the existing legislative background for regulating investments and stimulating policies to attract investments are shown. It is noted that in developing countries encouragement of investment activity, support and implementation are of the most important tasks, implying a consistent investment policy, investor-friendly tax regime and the legal system, reducing administrative barriers and restrictions, fare competitive conditions and business development infrastructure. The work deals with the determining factor of FDIs and the main directions of stimulation, as well as prospective industries where new investments are needed. Contributing and hindering factors and stimulating measures are analyzed. As a result of the research, the direct and indirect factors attracting FDI have been identified. Facilitating factors to FDI inflow are as follows: simplicity of starting business, geopolitical location, low taxes, access to credit, ease of ownership registration, natural resources, low burden of regulations, low level of corruption and low crime rates. Hindering factors to FDI inflow are as follows: small market, lack of policy for attracting investments, low qualification of the workforce (despite the large number of unemployed people it is difficult to find workers with necessary special skills and qualifications), high interest rates, instability of national currency exchange rate, presence of conflict zones within the country and so forth.
Abstract: In the contemporary global political economy, foreign direct investment (FDI) is gaining currency on daily basis. Notably, the end of the Cold War has brought about the dominance of neoliberal ideology with its mantra of private-sector-led economy. As such, nation-states now see FDI attraction as an important element in their approach to national development. Governments and policy makers are preoccupying themselves with unraveling the best strategies to not only attract more FDI but also to attain the desired socio-economic development status. In Nigeria, the perceived development potentials of FDI have brought about aggressive hunt for foreign investors, most especially since transition to civilian rule in May 1999. Series of liberal and market oriented strategies are being adopted not only to attract foreign investors but largely to stimulate private sector participation in the economy. It is on this premise that this study interrogates the politics of FDI attraction for domestic development in Nigeria between 1999 and 2014, with the ultimate aim of examining the nexus between regime type and the ability of a state to attract and benefit from FDI. Building its analysis within the framework of institutional utilitarianism, the study posits that the essential FDI strategies for achieving the greatest happiness for the greatest number of Nigerians are political not economic. Both content analysis and descriptive survey methodology were employed in carrying out the study. Content analysis involves desk review of literatures that culminated in the development of the study’s conceptual and theoretical framework of analysis. The study finds no significant relationship between transition to democracy and FDI inflows in Nigeria, as most of the attracted investments during the period of the study were market and resource seeking as was the case during the military regime, thereby contributing minimally to the socio-economic development of the country. It is also found that the country placed much emphasis on liberalization and incentives for FDI attraction at the neglect of improving the domestic investment environment. Consequently, poor state of infrastructure, weak institutional capability and insecurity were identified as the major factors seriously hindering the success of Nigeria in exploiting FDI for domestic development. Given the reality of the currency of FDI as a vector of economic globalization and that Nigeria is trailing the line of private-sector-led approach to development, it is recommended that emphasis should be placed on those measures aimed at improving the infrastructural facilities, building solid institutional framework, enhancing skill and technological transfer and coordinating FDI promotion activities by different agencies and at different levels of government.
Abstract: Foreign direct investment is a driving force in the development of the interdependent national economies, and the study and analysis of investments is an urgent problem. It is particularly important for transitional economies, such as Georgia, and the study and analysis of investments is an urgent problem. Consequently, the goal of the research is the study and analysis of direct foreign investments in Georgia, and identification and forecasting of modern trends, and covers the period of 2006-2015. The study uses the methods of statistical observation, grouping and analysis, the methods of analytical indicators of time series, trend identification and the predicted values are calculated, as well as various literary and Internet sources relevant to the research. The findings showed that modern investment policy In Georgia is favorable for domestic as well as foreign investors. Georgia is still a net importer of investments. In 2015, the top 10 investing countries was led by Azerbaijan, United Kingdom and Netherlands, and the largest share of FDIs were allocated in the transport and communication sector; the financial sector was the second, followed by the health and social work sector, and the same trend will continue in the future.
Abstract: From the strategic point of view, not all Foreign Direct Investments (FDIs) are always positively benefiting the host economy, i.e. not all Multinational Enterprises (MNEs) are promoting local/host economies. FDI could have different impact on different sectors of the economy, based not only on annual investment amount, but MNE motivations and peculiarities of the host economy in particular. FDI analysis based only on its amount can lead to incorrect decisions, it is much more important to understand the essence of investment. Consequently, our research is oriented on MNE’s motivations, answering which sectors are most popular among international investors and why, what motivated them to invest into one or another business. Georgian economy for the last period of time is attracting more and more efficiency seeking investments, which could be translated as - concentrating production in a limited number of locations to supply various markets, while benefiting local economy with: new technologies, employment, exports diversification, increased income for the local economy and so on. Foreign investors and MNEs in particular are no longer and not so much interested in the resource seeking investments, which was the case for Georgia in the last decade of XX century. Despite the fact of huge progress for the Georgian economy, still there is a room for foreign investors to make a local market oriented investments. The local market is still rich in imported products, which should be replaced by local ones. And the last but not the least important issue is that approximately 30% of all FDIs in Georgia according to this research are “efficiency seeking” investments, which is an enormous progress and a hope for future Georgian success.
Abstract: Foreign Direct Investment (FDI) is an integral part of an open and effective international economic system and a major catalyst to development. Developing countries, emerging economies and countries in transition have come increasingly to see FDI as a source of economic development modernization, income growth and employment. FDI is an important vehicle for the transfer of technology, contributing relatively more to growth than domestic investment. Exploratory research is being conducted here. The data for the study is collected from secondary sources like research papers, journals, websites and reports. This paper aim was to generate knowledge on Iran’s situation through these factors after lifting sanction in comparison to Turkey. Although the most important factors that influence foreign investor decisions vary depending on the countries, sectors, years, and the objective of investor, nowadays governments should pay more attention to human resources education, marketing, infrastructure and administrative process in order to attracting foreign investors. A proper understanding of these findings will help governments to create appropriate policies in order to encourage more foreign investors
Abstract: This paper addressed the impacts of energy consumption, economic growth, financial development, and population size on environmental degradation using grey relational analysis (GRA) for China, where foreign direct investment (FDI) inflows is the proxy variable for financial development. The more recent historical data during the period 2004–2011 are used, because the use of very old data for data analysis may not be suitable for rapidly developing countries. The results of the GRA indicate that the linkage effects of energy consumption–emissions and GDP–emissions are ranked first and second, respectively. These reveal that energy consumption and economic growth are strongly correlated with emissions. Higher economic growth requires more energy consumption and increasing environmental pollution. Likewise, more efficient energy use needs a higher level of economic development. Therefore, policies to improve energy efficiency and create a low-carbon economy can reduce emissions without hurting economic growth. The finding of FDI–emissions linkage is ranked third. This indicates that China do not apply weak environmental regulations to attract inward FDI. Furthermore, China’s government in attracting inward FDI should strengthen environmental policy. The finding of population–emissions linkage effect is ranked fourth, implying that population size does not directly affect CO2 emissions, even though China has the world’s largest population, and Chinese people are very economical use of energy-related products. Overall, the energy conservation, improving efficiency, managing demand, and financial development, which aim at curtailing waste of energy, reducing both energy consumption and emissions, and without loss of the country’s competitiveness, can be adopted for developing economies. The GRA is one of the best way to use a lower data to build a dynamic analysis model.
Abstract: In this work, we use the Fault detection and isolation and the Fault tolerant control based on sliding mode observer in order to introduce the well diagnosis of a nonlinear system. The robustness of the proposed observer for the two techniques is tested through a physical example. The results in this paper show the interaction between the Fault tolerant control and the Diagnosis procedure.
Abstract: Present empirical paper investigates the relationship
between FDI and economic growth by 10 selected industries in 10
Central and Eastern European countries from the period 1995 to
2012. Different estimation approaches were used to explore the
connection between FDI and economic growth, for example OLS,
RE, FE with and without time dummies. Obtained empirical results
leads to some main consequences: First, the Central and East
European countries (CEEC) attracted foreign direct investment,
which raised the productivity of industries they entered in. It should
be concluded that the linkage between FDI and output growth by
industries is positive and significant enough to suggest that foreign
firm’s participation enhanced the productivity of the industries they
occupied. There had been an endogeneity problem in the regression
and fixed effects estimation approach was used which partially
corrected the regression analysis in order to make the results less
biased. Second, it should be stressed that the results show that time
has an important role in making FDI operational for enhancing output
growth by industries via total factor productivity. Third, R&D
positively affected economic growth and at the same time, it should
take some time for research and development to influence economic
growth. Fourth, the general trends masked crucial differences at the
country level: over the last 20 years, the analysis of the tables and
figures at the country level show that the main recipients of FDI of
the 11 Central and Eastern European countries were Hungary, Poland
and the Czech Republic. The main reason was that these countries
had more open door policies for attracting the FDI. Fifth, according
to the graphical analysis, while Hungary had the highest FDI inflow
in this region, it was not reflected in the GDP growth as much as in
other Central and Eastern European countries.
Abstract: In this paper, a robust fault detection and isolation
(FDI) scheme is developed to monitor a multivariable nonlinear
chemical process called the Chylla-Haase polymerization reactor,
when it is under the cascade PI control. The scheme employs a radial
basis function neural network (RBFNN) in an independent mode to
model the process dynamics, and using the weighted sum-squared
prediction error as the residual. The Recursive Orthogonal Least
Squares algorithm (ROLS) is employed to train the model to
overcome the training difficulty of the independent mode of the
network. Then, another RBFNN is used as a fault classifier to isolate
faults from different features involved in the residual vector. Several
actuator and sensor faults are simulated in a nonlinear simulation of
the reactor in Simulink. The scheme is used to detect and isolate the
faults on-line. The simulation results show the effectiveness of the
scheme even the process is subjected to disturbances and
uncertainties including significant changes in the monomer feed rate,
fouling factor, impurity factor, ambient temperature, and
measurement noise. The simulation results are presented to illustrate
the effectiveness and robustness of the proposed method.
Abstract: This work explores the inter-region investment
behaviors of Integrated Circuit (IC) design industry from Taiwan to
China using the amount of foreign direct investment (FDI). According
to the mutual dependence among different IC design industrial
locations, Lotka-Volterra model is utilized to explore the FDI
interactions between South and East China. Effects of inter-regional
collaborations on FDI flows into China are considered. The analysis
results show that FDIs into South China for IC design industry
significantly inspire the subsequent FDIs into East China, while FDIs
into East China for Taiwan’s IC design industry significantly hinder
the subsequent FDIs into South China. Because the supply chain along
IC industry includes upstream IC design, midstream manufacturing, as
well as downstream packing and testing enterprises, IC design industry
has to cooperate with IC manufacturing, packaging and testing
industries in the same area to form a strong IC industrial cluster.
Taiwan’s IC design industry implement the largest FDI amount into
East China and the second largest FDI amount into South China
among the four regions: North, East, Mid-West and South China. If IC
design houses undertake more FDIs in South China, those in East
China are urged to incrementally implement more FDIs into East
China to maintain the competitive advantages of the IC supply chain in
East China. On the other hand, as the FDIs in East China rise, the FDIs
in South China will successively decline since capitals have
concentrated in East China. In addition, this investigation proves that
the prediction of Lotka-Volterra model in FDI trends is accurate
because the industrial interactions between the two regions are
included. Finally, this work confirms that the FDI flows cannot reach a
stable equilibrium point, so the FDI inflows into East and South China
will expand in the future.
Abstract: This paper presents a novel integrated hybrid
approach for fault diagnosis (FD) of nonlinear systems. Unlike most
FD techniques, the proposed solution simultaneously accomplishes
fault detection, isolation, and identification (FDII) within a unified
diagnostic module. At the core of this solution is a bank of adaptive
neural parameter estimators (NPE) associated with a set of singleparameter
fault models. The NPEs continuously estimate unknown
fault parameters (FP) that are indicators of faults in the system. Two
NPE structures including series-parallel and parallel are developed
with their exclusive set of desirable attributes. The parallel scheme is
extremely robust to measurement noise and possesses a simpler, yet
more solid, fault isolation logic. On the contrary, the series-parallel
scheme displays short FD delays and is robust to closed-loop system
transients due to changes in control commands. Finally, a fault
tolerant observer (FTO) is designed to extend the capability of the
NPEs to systems with partial-state measurement.
Abstract: This research study is an exploration of the selfdirected
professional development of teachers who teach in public
schools in an era of democracy and educational change in South
Africa. Amidst an ever-changing educational system, the teachers in
this study position themselves as self-directed teacher-learners where
they adopt particular learning practices which enable change within
the broader discourses of public schooling. Life-story interviews
were used to enter into the private and public spaces of five teachers
which offer glimpses of how particular systems shaped their
identities, and how the meanings of self-directed teacher-learner
shaped their learning practices. Through the Multidimensional
Framework of Analysis and Interpretation the teachers’ stories were
analysed through three lenses: restorying the field texts - the self
through story; the teacher-learner in relation to social contexts, and
practices of self-directed learning. This study shows that as teacherlearners
learn for change through self-directed learning practices,
they develop their agency as transformative intellectuals, which is
necessary for the reworking of South African public schools.
Abstract: The article focuses on the role of FDI in Georgia’s economic development for the last decade. To attract as much FDI as possible a proper investment climate should be on the place - institutional, policy and regulatory environment. Well developed investment climate is the chance and motivation for both, local economy and foreign companies, to generate maximum income, create new work places and improve the quality of life. FDI trend is one of the best indicators of country’s economic sustainability and its attractiveness. Especially for small and developing countries, the amount of FDI matters, therefore most of such countries are trying to compete with each other through improving their investment climate according to different world famous indexes. As a result of impressive reforms since 2003, Georgian economy was benefited with large invasion of FDI, however the level of per capita GDP is still law in comparison to Eastern European countries and it should be improved. The main idea of the paper is to show a real linkage between FDI and employment ration, on the case of Georgian economy.
Abstract: We have shown previously that reflected high intensity motion signals (RIMS) can be used for detection of left ventricular (LV) diastolic dysfunction (DD). It is also well known, that left atrial (LA) dimension can be used as a marker of DD. In this study we decided to analyze the diagnostic role of new echocardiographic morphofunctional diastolic index (MFDI) in differentiation of normal filling of LV from pseudonormal and restrictive. MFDI includes LA dimension and velocity of early diastolic component ea of RIMS (MFDI = LA/ea).
343 healthy subjects and patients with various cardiac pathology underwent dopplerechocardiographic exam. According to the criteria of "Don" classification scheme 155 subjects had signs of normal LV filling (N) and 55 - of pseudonormal and restrictive filling (PN + R). LA dimension was performed in standard manner. RIMS were registered by conventional pulsed wave Doppler from apical 4-chamber view, when the sample volume was positioned between the tips of mitral leaflets. The velocity of early diastolic component of RIMS was measured. After calculation of MFDI mean values of this index in two groups (N and PN + R) were compared. The cutoff value of MFDI for differentiation of patients with N and PN + R was determined.
Mean value of MFDI in subjects with normal filling was 1.38+0.33 and in patients with pseudonormal and restrictive filling 2.43+0.43; p 2.0 separated subjects with normal LV filling from subjects with pseudonormal and restrictive filling with sensitivity 89.1% and specificity 97.4%.
Abstract: Entrepreneurship has become an important and
extensively researched concept in business studies. Research on
foreign direct investment (FDI) has become widespread due to the
growth of FDI and its importance in globalization. Most
entrepreneurship studies examined the importance and influence of
entrepreneurial orientation in a micro-level context. On the other
hand, studies and research concerning FDI used statistical techniques
to analyze the effect, determinants, and motives of FDI on a
macroeconomic level, ignoring empirical studies on other noneconomic
determinants. In order to bridge the gap between the theory
and empirical evidence on FDI and the theory and research on
entrepreneurship, this study examines the impact of entrepreneurship
on inward foreign direct investment. The relationship between
entrepreneurship and foreign direct investment is investigated
through regression analysis of pooled time-series and cross-sectional
data. The results suggest that entrepreneurship has a significant effect
on FDI.
Abstract: Extensive rainfall disaggregation approaches have been developed and applied in climate change impact studies such as flood risk assessment and urban storm water management.In this study, five rainfall models that were capable ofdisaggregating daily rainfall data into hourly one were investigated for the rainfall record in theChangi Airport, Singapore. The objectives of this study were (i) to study the temporal characteristics of hourly rainfall in Singapore, and (ii) to evaluate the performance of variousdisaggregation models. The used models included: (i) Rectangular pulse Poisson model (RPPM), (ii) Bartlett-Lewis Rectangular pulse model (BLRPM), (iii) Bartlett-Lewis model with 2 cell types (BL2C), (iv) Bartlett-Lewis Rectangular with cell depth distribution dependent on duration (BLRD), and (v) Neyman-Scott Rectangular pulse model (NSRPM). All of these models werefitted using hourly rainfall data ranging from 1980 to 2005 (which was obtained from Changimeteorological station).The study results indicated that the weight scheme of inversely proportional variance could deliver more accurateoutputs for fitting rainfall patterns in tropical areas, and BLRPM performedrelatively better than other disaggregation models.
Abstract: In this paper, an approach to reduce the computation steps required by fast neural networksfor the searching process is presented. The principle ofdivide and conquer strategy is applied through imagedecomposition. Each image is divided into small in sizesub-images and then each one is tested separately usinga fast neural network. The operation of fast neuralnetworks based on applying cross correlation in thefrequency domain between the input image and theweights of the hidden neurons. Compared toconventional and fast neural networks, experimentalresults show that a speed up ratio is achieved whenapplying this technique to locate human facesautomatically in cluttered scenes. Furthermore, fasterface detection is obtained by using parallel processingtechniques to test the resulting sub-images at the sametime using the same number of fast neural networks. Incontrast to using only fast neural networks, the speed upratio is increased with the size of the input image whenusing fast neural networks and image decomposition.
Abstract: For the past thirty years the Malaysian economy has been said to contribute well to the progress of the nations. However, the intensification of global economy activity and the extensive use of Information Communication Technologies (ICTs) in recent years are challenging government-s effort to further develop Malaysian society. The competition posed by the low wage economies such as China and Vietnam have made the government realise the importance of engaging in high-skill and high technology industries. It is hoped this will be the basis of attracting more foreign direct investment (FDI) in order to help the country to compete in globalised world. Using Vision 2020 as it targeted vision, the government has decided to engage in the use of ICTs and introduce many policies pertaining to it. Mainly based on the secondary analysis approach, the findings show that policy pertaining to ICTs in Malaysia contributes to economic growth, but the consequences of this have resulted in greater division within society. Although some of the divisions such as gender and ethnicity are narrowing down, the gap in important areas such as regions and class differences is becoming wider. The widespread use of ICTs might contribute to the further establishment of democracy in Malaysia, but the increasing number of foreign entities such as FDI and foreign workers, cultural hybridisation and to some extent cultural domination are contributing to neocolonialism in Malaysia. This has obvious consequences for the government-s effort to create a Malaysian national identity. An important finding of this work is that there are contradictions within ICT policy between the effort to develop the economy and society.
Abstract: The paper investigates the relationship between the foreign direct investment (FDI) and the corporate governance or transparency by investigating the country-level FDI flows, FDI inward performance, corporate governance and transparency variables. From the regression analysis with Newey-West estimator of 28 country panel data from 1990- 2002, we find strong positive relationships between corporate governance or transparency level of hosting countries and FDI inward performance within hosting countries. A strong positive relationship is found between anti-director rights level or number of analysts of hosting countries and FDI inward performance within hosting countries. Also, we find a positive relationship between the number of analysts of hosting countries and FDI inflows. The empirical results are consistent with stock market liberalizations and corporate governance explanations of reasons for FDI.
Abstract: The relation between taxation states and foreign direct
investment has been studied for several perspectives and with states
of different levels of development. Usually it's only considered the
impact of tax level on the foreign direct investment volume. This
paper enhances this view by assuming that multinationals companies
(MNC) can use transfer prices systems and have got investment
timing flexibility. Thus, it evaluates the impact of the use of
international transfer pricing systems on the states- policy and on the
investment timing of the multinational companies. In uncertain
business environments (with periodical release of news), the
investment can increase if MNC detain investment delay options.
This paper shows how tax differentials can attract foreign direct
investments (FDI) and influence MNC behavior. The equilibrium is
set in a global environment where MNC can shift their profits
between states depending on the corporate tax rates. Assuming the
use of transfer pricing schemes, this paper confirms the relationship
between MNC behavior and the release of new business news.