22 EROPA Bulletin
Vol. 34 Nos. 3-4 (July-December 2013)
Government (Institutions...)
(From page 21)
and rule of law tend to have significant positive
effect on FDI inflows” – referring to the way that the
government formulates and implements its policies
and regulations, particularly those which promote FDI
inflow in developing countries.. Based on the World
Governance Indicators of 2009 (Indices for Regulatory
Quality and Rule of Law), ASEAN countries have
lower scores than other Asian countries. Dr. Buracom
noted a drastic increase in the dependency of ASEAN
economies on inward FDI through the years. The
inward FDI to GDP (Gross Domestic Product)
ra [