Research on Chinese Direct Investment in Africa (Case of Niger)
【摘要】：With the continuous entrants of Chinese investments in African nations, it is essential to discuss the impact of Chinese investment to Africa. For over three decades, FDI is becoming increasingly essential in the development process of nations. What are developed countries or developing countries; competition for FDI has become the major objective of economic policy states, which compete FDI (Foreign Direct Investment) in attractiveness to MNCs (Multi National Frime). After more than a decade of negative growth between 1985 and 1995, Niger found positive growth with a characteristic for uranium whose average annual growth between 2000 and 2005 was 27%, while the average of the WAEMU was around 9.7%. This growth is particularly due the discovery of oil, increased deposits of uranium and an exceptional surge of FDI in this sector. This study will attempt to identify how Chinese Investments affects the political, economic and cultural aspects of Africa. Basically, this paper aims to study the investments made by China in Africa by reviewing related articles and conducting survey to knowledgeable individuals such as economists, investors, businessmen and other business personalities. The primary objective of this study is to examine and determine the perception of economists, investors, businessmen and other business personalities regarding the impact of Chinese investment on Africa. To address this objective, the researcher explores the nature of the implications of Chinese direct investment in Africa:its benefits and advantages to the country.This thesis analyze the impact of FDI on the economy of Niger through seven main objectives: 1.Conduct literature review regarding the impact of China's direct investment in Africa in general and especially in Niger? 2. Identify the factors in China's investments that affect political, economic and cultural growth in Africa in general and especially in Niger? 3. Determine if Chinese direct investment has significant relationship to the current economy of Africa in general and especially in Niger? 4. Identify how the Africa in general and especially in Niger? Progresses through Chinese investment. 5) Analyze the evolution of growth and flows of Chinese investment in Niger? 6) To highlight all the key determinants of Chinese investment in Niger? 7) Study the effects of Chinese investment on economic growth in Niger? In this empirical study,, a survey is conducted to the economists, investors, businessmen and other business personalities to determine what attributes of Chinese investments affect the Africa. Finally, this research aims to come up with pertinent findings, and provides insightful recommendations for the progress of global economy. Chapter 1 is a descriptive analysis of FDI inflows and the growth rate of GDP in Niger between 1960 and 2005. According to this analysis that the cumulative FDI inflows represent about 40% of GDP in Niger (unevenly distributed across sectors), although the Niger accounts for only less than one per cent of global FDI. We also find that periods of large inflows of FDI followed by renewed growth in Niger. Chapter two examines the foundations of Sino-African cooperation in 1st place and second-China-Niger "The China-Africa friendship is deeply rooted in the depths of the ages and continues to deepen over the years". With these remarks, the President of the People's Republic of China did not intend to better express the historic character and dynamics of China-Africa Cooperation, which is based on principles and always reaffirmed that China attaches. The third chapter tries to show the strengths of the Niger to attract FDI. Thus, the political attractiveness (economic, monetary and institutional) in place are reviewed, as well as abundant natural resources of Niger where the investor may be interested. It is also where problems that limit FDI inflows in Niger such as corruption and political instability. Chapter four looks for the determinants of FDI in Niger for that purpose; an expanded gravity model is built and tested in a dynamic panel GMM. The results show that FDI to Niger are IDE that emphasize natural resources, with a particular orientation to the mineral and petroleum sector where investment may reach over 90% of total FDI. It is also clear that institutional problems are the main limits on FDI in Niger. Finally, chapter five examines the effects of FDI on the economies of Niger with a structural model estimated by three-stage least squares. The result obtained shows that FDI contributes positively to the growth of the Niger-making as an economic entity. However, simulations show that the effect of FDI on GDP growth is more sensitive to oil, low Uranium, Gold and none other. There is concern in the future effect of 'Disease' in most of Niger's economy if the authorities fail to take adequate measures to counter it. Diversification of production through the use of oil revenues to the development of lagging sectors is a permanent solution.