The dynamic interactions among foreign direct investment, economic growth, exports and unemployment: evidence from Taiwan

The vector autoregression (VAR) method of variance decomposition and impulse response function analysis was applied to analyze dynamic relationships among foreign direct investment (FDI), economic growth, unemployment, and trade in Taiwan. The analysis results show that both economic growth and exports have positive impacts on FDI inflow; however, export expansion has a negative impact on FDI outflow. FDI inflow also has an obvious positive impact on exports and economic performance. The evidence also shows that there is no relationship between FDI inflow and unemployment. In addition, we found that a positive relationship exists between economic growth and exports while a negative relationship exists between unemployment and economic growth.     

Modelling composition of growth,FDI and welfare in Africa: a SEM approach

Economic Change and Restructuring - While there have been separate studies on FDI–growth and FDI–welfare links, few or no studies exist that simultaneously examine...     

制度、政策与外商直接投资的区位分布——来自中国各地区的经验证据

无论按流量还是按存量来衡量,外商直接投资(FDI)在中国各地区的地理分布都显得极不均衡.通过对造成这种差异性分布现象的制度和政策因素的实证研究,可以得出两点主要结论:市场化程度、政府运行效率、政府的节俭程度、产权保护程度、对外商投资企业进出口的限制程度等制度因素对外商直接投资的地区流向有着显著的影响;优惠政策虽然有助于吸引更多的外商直接投资,但随着时间的推移和地方政策的干扰,中央政府优惠政策的效应呈明显的递减趋势.     

Russian Direct Investment Abroad: History, Motives, Finance, Control and Planning

On the basis of questioning 22 Russian MNCs, the author analyses motives of their FDI as well as the financial, control and planning aspects of their foreign affiliates' functioning. Analysis is supported by historical and statistical background of Russian outward investment.     

Is foreign direct investment good for the poor? New evidence from African countries

This paper conducts an empirical investigation of the relationship between foreign direct investment (FDI) inflows and poverty in selected African economies. Using system generalised method of moments, our findings showed that FDI inflows have significantly contributed to poverty reduction in African countries. Our results also showed that better institutional quality and human capital development are associated with reducing poverty. Furthermore, interacting FDI with financial development was found to significantly reduce poverty, thus providing support to the hypothesis that better functioning financial systems enhance the efficiency of FDI in reducing poverty.     

Productivity growth, trade and FDI nexus: evidence from the Canadian manufacturing sector

Using the confined exponential and logistic models of technology diffusion, this paper investigates the roles played by international trade and FDI in explaining productivity growth through both technology transfer and domestic innovation, with the technology transfer also occurring independently. Using panel data on Canadian manufacturing industries, we first find a robust role for the autonomous and international trade embodied technology transfer in explaining TFP growth. Second, international trade and FDI (as well as research and development) all contribute to productivity growth through the rate of innovation. Finally, we find that the exponential and logistic models of technology diffusion may have different implications for the growth dynamics in a technologically lagging country.     

跨国公司来华投资新趋向及我国应对政策与法律原则探析

进入九十年代以来,跨国公司来华投资较前发生了重大变化,并表现出鲜明的特点。跨国公司作为推动经济全球化的重要力量,对我国引进外资和社会经济发展的作用越来越大,本文从跨国公司来华投资的新趋向入手,在分析我国应对跨国公司的政策及法律原则的理论与现实基础上,进一步提出从积极引进、加强引导、合理限制与严密监督四个方面构建我国对待跨国公司来华投资的政策及法律原则。     

长江三角洲地区跨国公司发展态势研究

在经济全球化推动下,当今跨国公司国际直接投资呈现出一些新的重要特点.随着我国改革开放的不断深化,长三角地区跨国公司发展的基本态势表现为:在国际分工从产业间分工向产业内和产品内分工演进的背景下,长三角跨国公司制造业投资具有环节分工的鲜明特征;随着本土企业与跨国公司产业链联系的逐步增强,外资聚集型经济开始形成;跨国公司投资呈现出大型化、系列化、总部化和服务化等发展趋势.这需要我们采取相应的对策,进一步提升长三角利用外资的层次和水平,促进本土企业的成长和经济的快速发展.     

Do Ukrainian Firms Benefit from FDI?

All countries are eager to attract as much foreign direct investments (FDI) as possible. At the same time FDI may have not only positive, but also negative economic effects for receiving countries. Positive effects are associated with technology transfer, efficient allocation of resources, and training of domestic workers. However, the entry of foreign firms could, e.g., lead to a decrease of labor productivity at domestic firms, which is a negative effect. The main purpose of this paper is to estimate direct and indirect effects of FDI. First, we test for direct influence of foreign direct investments on firms’ performance, where the latter is estimated alternatively as labor productivity and as exports. FDI notably increases both labor productivity and export volumes. Second, we look for spillover or indirect effects. There is statistical evidence that the levels of FDI in certain regional industries are associated with higher performance indicators of firms’ not receiving FDI in those same regional industries.     

Learning through foreign market participation: the relative benefits of exporting,importing, and foreign direct investment

A growing literature explores the degree to which firms learn from exporting. Although this literature finds that firms that export subsequently enjoy enhanced innovative performance, there has been little research that compares the effect of exporting to that of alternative internationalization activities. In this paper, we extend the literature to explore theoretically the differential effects of a firm’s exporting, foreign direct investment, and importing activity on its innovative outcomes. We test the resulting hypotheses using a sample of Spanish manufacturing firms from 2000 to 2008. We find that (1) learning associated with exporting is more pronounced than that associated with a firm’s FDI activities, (2) exporting and FDI operate as substitutes in their effect on a firm’s learning, and (3) although importing is positively associated with learning as manifested in new product introductions, it is not associated with learning as manifested in patenting activity.     

我国利用FDI领域法律规制问题研究

FDI(国际直接投资)作为一种市场现象,我国政府对其采取全面的规制措施。根据规制经济学的相关理论,政府规制的同时出现规制失灵现象难以避免,我国在利用FDI领域所暴露出来的一些问题即源于此。针对这些现象,我国应采取相应的法律规制措施,以规范外国投资者和外商投资企业的市场行为以及政府的规制行为,并在此基础上形成我国利用FDI的立法体系。     

外商直接投资与产业劳动力转移效应研究——基于1981——2006年的实证分析

基于协整理论,以中国1981-2006年的时间序列数据为依托,从产业角度对FDI与我国劳动力就业之间的长期均衡与短期动态关系进行实证分析.结果表明:FDI与我国劳动力就业之间存在长期稳定的均衡关系,FDI对第一、第二产业劳动力就业产生负向效应;对第三产业劳动力就业产生正向效应.短期内,FDI与第一、第三产业劳动力之间具有单向因果关系,与第二产业劳动力之间则不具有任何单向因果关系.冲击反应分析进一步表明,FDI对第三产业劳动力吸收效应最大,第二产业最小,对国内劳动力就业的综合效应并不显著.     

加入WTO后我国吸引FDI的政策选择

FDI在各国的经济发展中起到了重要的作用 ,因此各国政府为吸引FDI的竞争日趋激烈。该竞争包括基于优惠的政策竞争和基于规则的政策竞争。由于基于优惠的竞争易导致“囚徒困境” ,加上加入WTO后中国所面临的国际国内环境发生了变化 ,中国FDI政策的调整是不可避免的。调整的方向总体上应该从基于优惠的政策竞争转向更加有效的基于规则的政策竞争     

Foreign direct investment and human capital in developing countries: a panel data approach

Theoretical studies have shown that there is a direct relationship between human capital and foreign direct investment (FDI). However, only a few available empirical studies have attempted to investigate this relationship simultaneously. Using country level panel data from 55 developing countries over the 1980–2011 period, this paper examines the interrelationship between FDI and human capital. Statistical analysis, based on simultaneous equations fixed effect estimation, reveals significant bi-directional causality between human capital and FDI, which suggests that FDI and human capital development policies need to be coordinated. FDI-led economic growth models may not be entirely suitable for all developing countries aiming to replicate the economic success of countries such as Brazil and China unless attention is also paid to human capital development through increased spending on education and training.     

论我国外资经济的贫困化增长

本文在对外资经济贫困化增长理论和描述性模型进行分析的基础上,对中国外资经济发展现状进行了综合判断.低技术含量、劳动密集型、出口导向的外资经济,已经出现国民所得下降的贫困化增长;资本、技术密集型外资经济虽未出现贫困化增长,但存在外资控制技术、垄断市场的趋势.前者面临的是如何跃出"比较优势陷阱"的问题,主要存在于珠三角地区;后者面临的是如何防范"拉美化陷阱"的问题,主要存在于长三角地区.提高外资经济中的国民所得,实现外资经济增长转型,应选择诱致性转型路径.     

Foreign Direct Investment in China: Determinants and Effects

This paper attempts to assess the determinants of Foreign Direct Investment (FDI) in China and its effects on the whole economy. After presenting the main theoretical contributions and the previous works done about China’s inward-FDI, an empirical study has been implemented extending the previous ones with a different data set (more recent) and with different methodologies. The traditional determinants of FDI seem to be relevant for China: domestic market size, cost advantages and openness to the rest of the world. Concerning the consequences of FDI on the Chinese economy, our empirical evidence supports the view that FDI affects China’s growth through the diffusion of ideas. Through the introduction of new ideas, multinational firms develop technical progress and hence long-run economic growth. The transmission of ideas seems to have had a positive effect on the Chinese growth.     

Tripartite decomposition of labor productivity growth,FDI and human development: evidence from transition economies

This study investigates the relative contribution of technological change, technological catch-up and capital deepening as drivers of labor productivity growth in 14 transition economies during the period 2000–2012. In addition, the study extends the usual decomposition of labor productivity growth by encompassing the impact of foreign direct investment (FDI) on labor productivity growth in transition economies. To illustrate the relative contribution of FDI as a driver of labor productivity growth, we present a simple theoretical model that augments Kohli [Labour productivity vs. total factor productivity. IFC Bulletin 20 (April), Irving Fisher Committee on Central Bank Statistics, International Statistical Institute, 2005] and Grosskopf et al. (Aggregation, efficiency, and measurement, Springer, New York, pp 97–116, 2007) decomposition of the labor productivity. The insights derived in this model provide an underpinning to the empirical analysis in this study. Using Blundell–Bond dynamic panel General Method of Moments estimators, the main finding of dynamic panel data regressions shows that technological catch-up, technological change, and human development level, trade and demographic of population ageing are the main factors that affect labor productivity growth in transition countries. Furthermore, the findings of dynamic panel data regressions show insignificant positive impact of FDI on productivity growth in transition economies. One explanation is that the 14 transition economies that are included in this study do not reach a minimum human development threshold level.     

Sino-Indian Liberalization: The Role of Trade and Foreign Investment

Two major factors account for a country’s growing integration with the global economy: trade and foreign investment; expansion of exports, and foreign direct investment (FDI). Growth of exports became a dominant source of industrial growth during the 1980s in most developing countries (see Helleiner, 1995). Most of these countries including China and India, have replaced the old import-substitution policy by an export promotion strategy. Both domestic and international factors played an important role in the shift of national policies to repay debts. The process of globalization already underway necessitated export orientation for improving technology, management practices, marketing and international competitiveness. This paper aims at exploring the contributions of exports and FDI to growth and economic liberalization in China and lndia. The first section briefly reviews similarities and differences in the two economies. The second section deals with growth, composition and direction of foreign trade. The third section examines the role of FDI, and its sources and composition by sector, industry, and by overseas ethnic Chinese and Indians. Trade and FDI linkages are examined in the fourth section which also contains a brief case study of Guangdong (China).     

Food Security and Agri‐Foreign Direct Investment in Weak States: Finding the Governance Gap to Avoid ‘Land Grab’

Food security is important. A rising world population coupled with climate change creates growing pressure on global world food supplies. States alleviate this pressure domestically by attracting agri‐foreign direct investment (agri‐FDI). This is a high‐risk strategy for weak states: the state may gain valuable foreign currency, technology and debt‐free growth; but equally, investors may fail to deliver on their commitments and exploit weak domestic legal infrastructure to ‘grab’ large areas of prime agricultural land, leaving only marginal land for domestic production. A net loss to local food security and to the national economy results. This is problematic because the state must continue to guarantee its citizens' right to food and property. Agri‐FDI needs close regulation to maximise its benefit. This article maps the multilevel system of governance covering agri‐FDI. We show how this system creates asymmetric rights in favour of the investor to the detriment of the host state's food security and how these problems might be alleviated.     

The Location of Multinationals in Industrial Districts: Knowledge Transfer in Biomedicals

In order to access and exploit knowledge, MNCs are induced to make FDI in technological districts. It occurs in a two-step process: first joint venture and then acquisition. This perspective is consistent with the evolutionary theory of multinational corporations, which looks at technology transfer as a sound rationale for FDI. The location strategy of multinationals produces a reorganization of district structure and a change in its evolutionary pattern: MNCs become catalysts, bring in new finance, ideas and managerial practices, open the district to external markets and international flows of technology. Biomedical Valley in Italy is a recent high-tech district that fits this picture well. It demonstrates that the rationale for FDI was not wage differentials with parent countries, but rather local knowledge and innovation. Knowledge transfer through subcontractors diffuses and recombines inside the district in two ways: becoming the medium for the dissemination of new codes, procedures and knowledge within the district, and evolving from the role of subcontractors to that of independent producers of final products. The case of biomedical district also induces changes of a number of stereotypes and common beliefs about industrial districts and MNCs.