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To link to full-text access for this article, visit this link: http://dx.doi.org/10.1016/j.jpolmod.2007.06.014 Byline: James B. Ang Keywords: Foreign direct investment; Malaysia Abstract: Using annual time series data for the period 1960-2005, this paper examines the determinants of FDI for Malaysia to inform analytical and policy debates. Consistent with the prediction of the market size hypothesis, real GDP is found to have a significant positive impact on FDI inflows. There is evidence that growth rate of GDP exerts a small positive impact on inward FDI. From a policy point of view, the results suggest that increases in the level of financial development, infrastructure development, and trade openness promote FDI. On the other hand, higher statutory corporate tax rate and appreciation of the real exchange rate appear to discourage FDI inflows. Interestingly, the results also seem to suggest that higher macroeconomic uncertainty induces more FDI inflows. Author Affiliation: Monash University, Department of Economics, 900 Dandenong Road, Caulfied East, Vic. 3145, Australia Article History: Received 1 December 2006; Revised 1 May 2007; Accepted 1 June 2007

This study investigates how the implementation of modern climate change policies is related to former colonies' length of state history and their legal heritage. We argue that countries with longer statehood experience around the time of colonization were better equipped to implement the legal philosophies transplanted by their colonial powers. Therefore, the implications of receiving British common law versus French civil law should be particularly important in countries with a greater accumulated history of statehood. Using a cross-section of up to 78 former colonies, our results provide support for this hypothesis. In particular, our estimates demonstrate that common law countries have weaker modern climate change policies than civil law countries and the difference is inflated by a longer statehood experience, measured by the length of state history from 1 to 1800 AD. Legal origin has no effect in areas which, by the time of colonization, had no statehood experience. Finally, we report similar results for the pattern of labor market regulations. ( JEL K15, K31, K32, O44, Q54, Q58) [ABSTRACT FROM AUTHOR]

This article examines the influence of quality-adjusted educational attainment on growth and tests whether it facilitates the transfer of technology developed at the frontier for a panel of 60 countries. Using outcomes of pathogen stress as instruments, the results show that quality-adjusted educational attainment and its interaction with distance to the frontier play important roles for growth. (JEL I20, O30, O40 ) [ABSTRACT FROM AUTHOR]