earticle

영어

This study analyzes the effects of overseas investment insurance on foreign direct investment and overseas investment insurance performs its role properly as a risk management tool. The panel gravity model by K. Head and T. Mayer(2014) is assumed and extended to include overseas investment insurance coverages inKorea during the recent 22 years from1993 to 2014 for 18 countries. Estimated results showthat Korea and the host country'sGDPand distance have a significant impact on foreign direct investment in the host country. In addition,Overseas Investment Insurance has a significant influence on foreign direct investment when the model control the country risk.

한국어

이연구는위험관리방법으로서해외투자보험이그역할을제대로수행하고있는지계량적인 방법을통하여알아보고자하였다.이를위해중력모형을이용하여우리나라의GDP,현지국의 GDP,현지국과의거리,현지국의1인당GDP해외투자보험인수액, FTA체결여부로구성된함 수를상정하고추정하였다.추정결과우리나라와현지국의GDP및현지국과의거리는해외투자 에유의한영향을미치는것으로나타나중력모형이해외투자에대한설명에도유용한모형임이 입증되었다.해외투자보험은국가위험을통제할경우해외투자에유의한영향이없으나국가위험 을이를제외할경우해외투자에유의한영향을미쳐해외투자보험이국가위험의관리에는유용한 수단임을말해준다.