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SUMMARY:Government Quality and Foreign Investment in the European Regions 
 - Dr Riccardo Crescenzi\, London School of Economics
DTSTART:20160224T160000Z
DTEND:20160224T170000Z
UID:TALK64601@talks.cam.ac.uk
CONTACT:Clare Eaves
DESCRIPTION:Multinational Enterprises (MNEs) are key ‘tectonic forces’
 \, shaping the ‘mountains’ in a far‐from‐flat world economic geogr
 aphy. The\ntotal value added generated by MNEs accounts for approximately 
 25 percent of world GDP. MNE foreign subsidiaries alone generate\nmore tha
 n 10 per cent of world GDP (UNCTAD\, 2015). However\, still very little is
  known about the factors able to shape the longterm\nlocation decisions of
  MNEs and their geography. In particular territorial/spatial factors and l
 ocal institutional conditions have\nbeen often overlooked in existing MNE 
 location analyses. This paper explores the role of sub‐national institut
 ional quality (Quality of\nGovernment) in attracting foreign direct invest
 ments (FDI) in the regions of the European Union (EU). Using count data on
  greenfield\nFDI in the European TL2 regions for the 2009‐2013 period\, 
 the empirical results show that regional quality of government affects the
 \nlocation of inward investment: regions with better government quality at
 tract more foreign investors\, even after controlling for\noverall country
 ‐level institutional quality. This is particularly true for investment p
 rojects in production and R&D activities.\nConversely\, service activities
  are only indirectly affected by the regional quality of government: they 
 tend to follow the location of\nproduction investment projects that\, in t
 heir turn\, are attracted by locations with high quality of government.\n\
 n\nKeywords: Quality of government\, Institutions\, FDI\, \n\nMultinationa
 ls\, Regions\, European Union.\nJel codes: C14\, C21\, F23\, H7\, R3\nThis
  research is still work‐in‐progress and a draft paper is not available
  yet.\n\n\n\nBiography:\n\n\nRiccardo Crescenzi is an Associate Professor 
 of Economic Geography at the London School of Economics and the current ho
 lder of a\nEuropean Research Council Grant. Before joining the LSE Riccard
 o was a Jean Monnet Fellow at the European University Institute in\nFloren
 ce. He has been visiting scholar at a number of universities\, including t
 he Kennedy School of Government\, Harvard University\nand the School of Pu
 blic Policy\, University of California Los Angeles (UCLA). Riccardo has pr
 ovided academic advice to\, amongst\nothers\, the European Investment Bank
 \, the European Parliament\, the European Commission (DG Regional Policy)\
 , the Inter‐\nAmerican Development Bank and various regional governments
 . His research is focused on Regional Economic Development and\nGrowth\, I
 nnovation\, Multinational Firms and the analysis and evaluation of Europea
 n Union development policies.
LOCATION:Mill Lane Lecture Room 1
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