ABSTRACT

In this study, various determinants of intra-SAARC capital flows in terms of FDI have been investigated using Multilevel Generalized Structural Equations Model. Analysis proves (i) bulk of intra-SAARC FDI is found to be market-seeking or horizontal, indicating scarcity of vertical investment linkages between affiliate countries; (ii) the financial sector among SAARC nations need a significant development before expecting a positive relationship between intra-regional FDI and financial development; (iii) political fragility is not found to hinder intra-SAARC FDI and (iv) while intra-regional FDI in SAARC is dominated by Indian investments, Bangladesh and Sri Lanka are also rising as prominent regional investors.

摘要

在这项研究中，使用多级广义结构方程模型研究了 FDI 方面南盟内部资本流动的各种决定因素。分析证明：(i) 大部分南盟内部 FDI 被发现是市场寻求型或横向型，表明附属国家之间缺乏纵向投资联系；(ii) 南盟国家之间的金融部门需要取得重大发展，才能期望区域内 FDI 与金融发展之间存在积极关系；(iii) 没有发现政治脆弱性会阻碍南盟内部的外国直接投资，并且 (iv) 虽然南盟的区域内外国直接投资主要由印度投资主导，但孟加拉国和斯里兰卡也正在崛起为主要的区域投资者。