External Openness and Economic Growth in Developing Countries

This paper investigates empirically the relationship between two channels of external openness: international trade, foreign direct investment (FDI), and the rate of economic growth implied by the leader–follower model. The predictions of the theory are tested for the group of 97 developing countries in the period of 1974–2006 using static and dynamic panel data estimation methods. The estimation results show that both international trade and FDI positively contribute to growth.     

FDI,Foreign Aid,Remittance and Economic Growth in Developing Countries

Using a dynamic spatial framework, this paper investigates how foreign direct investment (FDI), foreign aid and remittances impact the economic growth of 53 African and 34 Latin American and Caribbean countries. Previous growth studies examine how one factor or two of these factors impacts economic growth, which results in biased estimation because of the omitted variable(s). Separate estimation shows foreign aid and FDI affects economic growth in Africa, but when we control for all three factors, only FDI affects African economic growth. For Latin America and the Caribbean, foreign aid and remittances affect growth when estimated separately, while remittances affect growth when they are estimated simultaneously. Finally, both regions' results confirm spatial interdependence is important in explaining economic growth, as growth in one country depends on the growth of its neighboring countries.     

Autocracy,Democracy, and FDI Inflows to the Developing Countries

Abstract

This paper investigates the relationship between political regimes and Foreign Direct Investment (FDI) inflows to the developing countries for a sample of 134 countries over the 1983–2002 period. Using two categorical measures of regime type and three different measures of FDI, this study finds that, regardless of the measures of regime type, democracies are not significantly associated with either FDI in level or FDI as a ratio to GDP; democracy is positively related to a higher level of per capita FDI, but this result is not robust to alternative measures of political regime. Taken as a whole, there is no evidence of a systematic relationship between democracy and FDI inflows. This result suggests that being a democracy does not help attract higher levels of FDI.     

发展中国家金融开放与我国金融安全思考

在经济金融全球化不断发展背景下．通过对新加坡、墨西哥和泰国金融开放实践的比较分析，从中得到一定的经验和教训，从经济学视角解释了金融开放的影响，面对中国金融业的国际开放，我国既要抓住金融发展的大好机遇。加快金融的国际化发展增强金融竞争内，同时需要严格金融监管防范金融风险。     

后发优势：发展中国家对外直接投资新诠释

发展中国家对外直接投资时主要有两种优势可以利用，一是比较优势，另一种是后发优势。目前，学术界大多重视比较优势的作用，而对后发优势的理论研究及其实践价值缺乏深入地探讨。因此，将后发优势理论应用于对发展中国家对外直接投资问题的分析，把后发优势作为发展中国家对外直接投资的一种理论解说，可以在相当程度上弥补以比较优势为核心的西方国际直接投资理论的不足，从而指导发展中国家对外直接投资的发展。     

规模、路径与动因:发展中国家企业的FDI行为探析

发展中国家的企业不仅关心如何通过FDI将利润最大化,也关心提高一般性经营资源的收益。本文应用二阶段理论,综合考虑两个市场、两个阶段和两种状态等因素,对优势企业和弱势企业的决策背景进行了比较,分析了制度学习效应、资源转移效应和国内市场竞争效应等发展中国家企业FDI动因,建立了弱势企业FDI规模的决策模型,该模型也可以用于发展中国家企业FDI行为的路径选择。     

出口导向贸易政策与发展中国家间FDI竞争——基于寡占竞争模型的理论分析

文章建立了一个两国竞争模型,重点分析了进口关税与出口补贴等战略贸易政策对发展中国家吸引FDI竞争的影响。研究发现:(1)当两国都采取出口补贴的外资激励政策时,工资水平和进口关税对发展中国家间FDI竞争并没有直接影响;(2)对全要素生产率较高的国家来说,当两国的关税水平都较高时,出口补贴政策增加流向本国的FDI,而当两国关税水平大幅下降后,出口补贴政策反而不利于本国FDI竞争。文章的结论对当前我国战略引资和出口退税等政策的调整具有重大的指导意义。     

Foreign Direct Investment Determinants in OECD and Developing Countries

In this paper we examine the foreign direct investment (FDI) inflow determinants in 24 Organisation for Economic Co‐operation and Development (OECD) and 22 developing (non‐OECD) countries over 1980–2012, using the standard fixed effects as well as a dynamic panel approach. The most robust finding is that lagged FDI, market size, gross capital formation and corporate taxation significantly affect FDI inflows in OECD countries. We also examine a group of developing countries, taking into consideration the increased share of world FDI inflows that developing countries have attracted, and compare the results. In this case, lagged FDI, market size, labor cost and institutional variables provide the most robust results. The empirical results have important policy implications indicating the factors that host economies should emphasize in order to attract FDI inflows.     

Foreign Direct Investment and Labor Quality in Developing Countries

The quality of local labor is an important factor in a multinational corporation's (MNC) decision to set up production operations in a developing country. It is often observed that developing country governments attempt to attract MNCs by enhancing labor quality. This paper studies the interaction between an MNC and a local government which has superior information on local labor quality. The local government has an incentive to enhance the labor quality and share that information with the MNC because it increases both its net tax revenue and profit of the MNC. The paper provides an explanation for recent findings of FDI in developing countries: the bulk of FDI has been directed toward a limited number of countries and human capital plays an increasingly important role in attracting FDI.     

对我国向发展中国家直接投资的分析

改革开放以来,我国对外直接投资的力度不断加大,在这个阶段,投资效率的问题开始成为中心问题。而投资区域的选择则是提高投资效率、保证投资收益的关键。文章分析了我国向发展中国家投资的比较优势以及发展中国家的可利用因素,指出现阶段我国企业向发展中国家直接投资的可行性和效益性。     

国际直接投资对发展中国家的经济影响

20世纪90年代以来,经济全球化的迅猛发展使国际直接投资产生了很多重要变化。在这种新的环境和条件下,这些变化使得国际直接投资对发展中国家产生了新的经济影响。认识到这种变化,对于发展中国家吸引外资,以及最大程度地利用外资,同时限制其不利影响,都是有积极意义的。     

外商投资、贸易开放度与中国财政支出结构

文章采用空间计量经济方法,利用空间和时间固定效应的空间自回归模型和空间误差模型,就外商直接投资、贸易开放度与我国地方政府公共支出结构之间的关系进行分析。得出以下结论:我国各省的地方财政总支出及其主要构成部分存在显著的空间相关性;外商直接投资限制了政府部门规模,降低了总支出水平及其主要构成部分的支出水平,支持效率假说的推断;贸易开放度扩张了政府部门规模,提高了总支出水平及其主要构成部分的支出水平,支持补偿假说的推断。     

气候变化背景下发展中国家的低碳经济发展

面对气候变化对人类发展的挑战,没有哪个国家能够独善其身,也没有哪个国家能够独立应对,而且气候变化对发展中国家的冲击比发达国家更甚。因此发展低碳经济是发展中国家的必由之路。由于技术和资金缺乏是制约发展中国家经济转型的最大障碍,所以文章侧重分析了如何在国际合作框架下实现低碳技术转移和解决资金瓶颈问题。     

发展中国家对外直接投资的经验教训及启示

从发展中国家对外直接投资的历史看,最初动因都是为了获取自然资源,都经历了从依附于"贸易立国"到独立发展的过程,国内的金融、信息、人才等给予对外直接投资系统的支持,投资主体可以是大企业、大集团,也可以是中小企业.但部分国家的对外投资脱离国内经济发展水平,走得太快,脱离了主业,带来不良后果.政府在扶持对外投资方面,部分国家产生了道德风险.     

贸易开放与发展中国家收入差距扩大——基于中国的理论与实证分析

文章将人力资本结构因素纳入到贸易开放与发展中国家内部收入差距关系的分析框架之中,通过理论推理和实证检验考察了贸易开放、人力资本结构对发展中国家收入差距扩大的影响机制、条件与力度.研究表明,贸易开放对发展中国家收入差距扩大的影响不但与其所带来的技术进步类型有关,还与该国的产业发展战略和人力资本(人才供给)结构密切相关.就我国而言,人力资本结构升级速度慢于贸易产品结构升级速度,是贸易尤其是出口导致收入差距扩大的重要条件.     

Economic and Welfare Impacts of Climate Change on Developing Countries

The impact of global climate change on developing countries is analyzed using CGE-multimarket models for three archetype economies representing the poor cereal importing nations of Africa, Asia, and Latin America. The objective is to compare the effects of climate change on the macroeconomic performance, sectoral resource allocation, and household welfare across continents. Simulations help identify those underlying structural features of economies which are the primary determinants of differential impacts; these are suggestive of policy instruments to countervail undesirable effects. Results show that all these countries will potentially suffer income and production losses. However, Africa, with its low substitution possibilities between imported and domestic foods, fares worst in terms of income losses and the drop in consumption of low income households. Countervailing policies to mitigate negative effects should focus on integration in the international market and the production of food crops in Africa, and on the production of export crops in Latin America and Asia.     

外国直接投资对发展中国家国民经济结构安全的影响

外国直接投资的进入会对发展中国家国民经济结构安全产生深远影响。从宏观和中观角度看,国民经济结构主要包括产业结构、国际贸易收支结构和市场结构,本文重点分析外国直接投资尤其是跨国公司对发展中国家产业结构和市场结构的影响,可看到外国直接投资对发展中国家国民经济结构安全既有正面影响,也存在负面效应。这就需要发展中国家政府提高制度供给能力,在利用外国直接投资中趋利避害。     

Exchange Rate Regimes and Foreign Direct Investment Flows to Developing Countries

Drawing on recent advances in exchange rate regime classifications, the paper examines empirically the effect of exchange rate regimes on foreign direct investment (FDI) flows to developing countries. Using system generalized methods of moments estimation on a panel of 70 developing countries for the period 1985–2004, we find that developing countries adopting de facto fixed or intermediate regimes significantly outperform those opting for a flexible exchange rate system in attracting FDI flows. No statistically significant differences in the FDI‐inducing properties of fixes, intermediates and floats are found using the International Monetary Fund official classification.     

Controlled Openness and Foreign Direct Investment

The paper investigates why a developing country may adopt a partial reform. A country is considered where the ruling elite (referred to as state capital) prevents the entry of foreign capital, and taxes the private sector before reform. A higher productivity of foreign capital always increases the attractiveness of a partial reform under which state capital can control the inflow of foreign capital, but can reduce the attractiveness of a full reform under which the entry of foreign capital is unregulated. Hence, state capital's control over foreign capital may be a necessary condition for the reform to take place at all.     

贸易开放、多渠道FDI与高技术产业绿色技术进步——基于中国省际数据的空间计量及VAR脉冲分析

在新经济增长理论框架的基础上，聚焦高技术产业绿色技术进步，基于2006—2018年中国（内地）省级面板数据，采用Super-SBM模型测度环境约束下中国高技术产业绿色技术进步，分解出纯技术效应部分和规模效应部分。基于空间杜宾模型进行实证检验，并构建VAR（向量自回归）模型探索其长期效果。结果表明：目前，我国高技术产业绿色技术进步主要由纯技术效应贡献；FDI资金和物力流入均通过提升规模效应促进本地高技术产业绿色技术进步，而在邻地则通过提升纯技术效应实现这一过程；FDI技术流入主要通过提高纯技术效应推动绿色技术进步；高质量人力资本和严格的环境规制均在本地显著促进高技术产业绿色技术进步，在邻地则无此效应。贸易开放本身能够显著促进本地高技术绿色技术进步，但与FDI资金和物力流入交互影响均抑制本地绿色技术进步，而与FDI技术流入交互作用在本地和邻地均对绿色技术进步具有显著促进作用。