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Article

Foreign Direct Investment and World Pandemic Uncertainty Index: Do Health Pandemics Matter?

by
Linh Tu Ho
1,2 and
Christopher Gan
2,*
1
Faculty of Economics and Development Studies, University of Economics, Hue University, Hue 530000, Vietnam
2
Department of Financial and Business Systems, Lincoln University, Christchurch 7647, New Zealand
*
Author to whom correspondence should be addressed.
J. Risk Financ. Manag. 2021, 14(3), 107; https://doi.org/10.3390/jrfm14030107
Submission received: 30 January 2021 / Revised: 22 February 2021 / Accepted: 4 March 2021 / Published: 5 March 2021
(This article belongs to the Special Issue Foreign Direct Investment – Under the Sign of Profit or Sustainable Development?)
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Abstract

This paper explores the impacts of health pandemics on foreign direct investment (FDI) using the new world pandemic uncertainty index (WPUI). We investigate the effects of pandemics, including COVID-19, on FDI based on a sample of 142 economies and sub-samples (incomes and regions) from 1996 to 2019. The two-step system Generalised Method of Moments estimation of linear dynamic panel-data model (DPDGMM) is used in this study. The estimation results are robust with the results of the two-step sequential (two-stage) estimation of linear panel-data models (SELPDM) and the two-step system Generalised Method of Moments estimation (BBGMM). The results show that health pandemics have negative impacts on FDI. Significantly, the uncertainty caused by pandemics creates adverse shocks on FDI net inflows in Asia-Pacific countries and emerging economies.
Keywords: COVID-19; pandemic; world pandemic uncertainty index; foreign direct investment COVID-19; pandemic; world pandemic uncertainty index; foreign direct investment

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MDPI and ACS Style

Ho, L.T.; Gan, C. Foreign Direct Investment and World Pandemic Uncertainty Index: Do Health Pandemics Matter? J. Risk Financ. Manag. 2021, 14, 107. https://doi.org/10.3390/jrfm14030107

AMA Style

Ho LT, Gan C. Foreign Direct Investment and World Pandemic Uncertainty Index: Do Health Pandemics Matter? Journal of Risk and Financial Management. 2021; 14(3):107. https://doi.org/10.3390/jrfm14030107

Chicago/Turabian Style

Ho, Linh Tu, and Christopher Gan. 2021. "Foreign Direct Investment and World Pandemic Uncertainty Index: Do Health Pandemics Matter?" Journal of Risk and Financial Management 14, no. 3: 107. https://doi.org/10.3390/jrfm14030107

APA Style

Ho, L. T., & Gan, C. (2021). Foreign Direct Investment and World Pandemic Uncertainty Index: Do Health Pandemics Matter? Journal of Risk and Financial Management, 14(3), 107. https://doi.org/10.3390/jrfm14030107

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