Intra- and Inter-industry Externalities from Foreign Direct Investment in the Mexican Manufacturing Sector: New Evidence from Mexican Regions

This paper presents new empirical evidence on externalities from Foreign Direct Investment (FDI) in several Mexican regions in the early 1990s. The main findings are threefold. First, the presence of FDI creates negative externalities within industries and positive externalities between industries through backward linkages. Second, FDI-externalities are stimulated by large technological differences between FDI and Mexican firms and by geographic concentration of industries. Third, we identify a substantial level of regional heterogeneity of the externality impact of FDI, in line with the notion that FDI may have contributed to processes of changing regional prosperity under trade liberalization. The findings also imply that maquiladora firms in the border states are generating positive externalities.     

服务特性、经验效应与中国服务业外商投资——基于生产性与消费性服务业的实证研究

服务业跨国投资活动逐渐成为近年来跨国经营的热点问题,探讨服务业外商投资动因对我国服务业吸引外资和自身发展均具有积极影响。鉴于以往研究大多关注整体服务业而忽略不同服务业的内在差异、关注东道国客观因素而忽略企业主观因素的研究现状,本文将选择以下切入点进行研究:一是服务特性差异对不同类型服务业投资动因的客观影响,二是以往投资经验效应的主观影响。为此,本文选择我国生产性和消费性服务业外商投资作为研究对象,引入VAR模型检验服务特性和经验效应对不同类型服务业投资动因的影响作用,得出结论:生产性服务业更倾向于效率寻求和距离论的投资动因;消费性服务业则倾向于市场寻求和东道国区位优势动因,此外跨国公司以往投资经验也对未来海外投资产生积极影响。通过分析,本文希望能对不同服务特性行业的投资动因进行有针对性地分析,并指引其有效吸引外资和改善投资环境。     

Global Foreign Direct Investment Flows: The Role of Governance Infrastructure

It is widely argued that a country’s economic performance over time is determined to a great extent by its political, institutional and legal environment. We refer to these institutions and policies as the governance infrastructure of a country. We utilize newly developed indices to examine the effects of governance infrastructure on both foreign direct investment (FDI) inflows and outflows for a broad sample of developed and developing countries over 1995–97. In addition, we examine the role of other forms of infrastructure including human capital and the environment. The results clearly indicate that governance infrastructure is an important determinant of both FDI inflows and outflows. Investments in governance infrastructure not only attract capital, but also create the conditions under which domestic multinational corporations emerge and invest abroad. It would appear that investments in governance infrastructure are subject to diminishing returns, so that the benefits, in terms of inflows, are most pronounced for smaller and developing economies.     

The Effect of the Exchange Rates on Investment in Mexican Manufacturing Industry

This paper, considering revenue and cost exposure channels, investigates the effects of exchange rate on fixed capital investment in Mexican manufacturing sector over 1994–2003. We find that i) currency depreciation has a positive (negative) effect on fixed investment through the export (import) channel; ii) exchange rate volatility impacts mostly export oriented sectors; iii) the sensitivity of investment to exchange rate movements is stronger in non-durable goods sectors and industries with low mark-up ratios.     

Foreign Investment,Divestment and Relocation by Japanese Electronics Firms in East Asia*

Although foreign divestment and international relocation by multinational firms carry important economic implications for the industrialization of East Asian countries, there has been little empirical research on these issues. In this paper we analyze the magnitude and pattern of foreign divestment and relocation by Japanese electronics firms in nine East Asian countries during 1995–2003. The average annual divestment rate of electronics manufacturing affiliates is 3 percent, but divestment patterns diverge strongly across countries. Divestments are much more frequent in higher labor cost countries and in approximately one‐third of cases are accompanied by relocations to lower wage countries, particularly to China. Evidence is found for rivalry between China and ASEAN countries in attracting foreign direct investment, but the growing attractiveness of China has not been accompanied by a reduction in employment in Japanese affiliates in ASEAN countries (with the exception of Singapore). Divestments and relocations are related to Japanese firms’ strategy to reconfigure their Asian production networks in response to changing competitiveness, regional integration, and changes in local investment environments.     

Taiwan's Entrepreneurs and International Coordination: Evolution of Global Production Network in Electronics and IT Industries

Abstract

This study applies the concept of coordinating entrepreneurship to explain the emergence of global production network. More specifically, this study explains and illustrates how Taiwan-born technopreneurs move between Silicon Valley and Taiwan's Hsinchu, thereby promoting Taiwan's computer and information technology (IT) industries. With their entrepreneurial spirit and social network, Taiwan-born technopreneurs even turn Dongguan, a farming village in south China, into a modern IT industrial city. This paper concludes that as a result of the coordinating efforts of these entrepreneurs, electronics and computer plants scattered around the globe are integrated into a global production network, as illustrated by IT firms in Silicon Valley, Hsinchu and Dongguan.     

外商投资促进我国高新技术产业发展

随着我国改革开放的不断深入,外商直接投资从规模、资金、水平上都有显著提高;我国引进技术的主要方式也从原来的技术贸易转变为利用外商直接投资引进技术。全球跨国企业有望加大对华直接投资,外商直接投资企业在我国的技术引进战略中日益显现其重要地位。传统的技术引进方式渐退从中国的技术引进统计来看,技术引进的数量并没有大的增长,从1950年到2002年,中国共对外签订技术引进合同52677项,合同金额1793.7亿美元。实际情况是技术引进的方式在发生很大的变化,即购买技术的比重在下降。1998年中国的技术引进合同数6254个,合同金额为163亿美…     

外资溢出效应与中国全球价值链参与

文章构建了一个时间跨度为2000~2013年,包含中国企业的全球价值链参与和企业详细信息的微观数据集,研究了外商投资是否能够提高中国内资企业的全球价值链参与以及这种效应的实现途径。研究结论显示,外资的水平溢出正向影响了企业的全球价值链参与。外资水平溢出、前向溢出和后向溢出每增加1%,企业的全球价值链参与度分别增加0.0309%、0.0519%和0.0309%。该正向效应在考虑了滞后效应和使用对外资溢出的不同衡量方式后均保持稳健。进一步的研究显示,外资企业的技术溢出与港澳台企业的技术溢出对内资企业全球价值链参与的影响存在差异。外商投资对内资企业全球价值链参与的促进作用还受到外资的本地化生产程度、内资企业与外资企业的技术距离,以及利用外资政策的影响。     

文化产业利用外资的效应与对策支持

随着我国加入WTO后文化产业的进一步开放,如何有效利用外资发展文化产业的问题显得越来越重要。分析我国文化产业利用外资的现状,继而论述了外资对我国文化产业的影响,以及我国有效利用外资发展文化产业的相关对策。     

行业增长性、技术投资博弈与跨国公司直接投资技术外溢

跨国公司直接投资对发展中东道国技术发展的影响如何?大多数研究停留在总体正负外溢效应的争论上,很少有学者关注东道国的行业增长性和企业技术投资对跨国公司直接投资技术外溢的影响。本文引入行业增长性,拓展Wang与Blomstrom的国际技术转移模型,构建了跨国公司技术转移与东道国企业技术学习的博弈框架,重点研究行业增长性对企业技术行为与技术外溢的影响,更全面地探讨跨国公司直接投资技术外溢机制。     

外商直接投资与东道国产业发展——基于后向关联效应的研究

外商直接投资对东道国产业发展存在催化作用,FDI通过产业关联促进东道国产业升级,经验研究表明其后向关联效应较前向关联效应有更大显著性。本文在跨国公司、东道国上游企业和下游企业三者之间建立理论模型,分析跨国公司直接投资后向关联效应的影响因素,得出影响外商直接投资后向关联效应的一个重要因素是跨国公司与东道国下游企业之间的技术差异。     

中国在全球直接投资格局中的引资地位及潜力分析

论文分析了全球直接投资流量变化、危机后全球直接投资格局调整以及全球引资竞争态势等方面的基本特征。在此基础上对金砖国家引资规模与水平进行了比较分析,认为中国的引资地位在动态调整过程中总体上得到了提升与巩固。从长期看,中国在吸收外资方面仍具有一定的优势与潜力。     

生产分割、新经济地理与产业区位:理论模型和经验证据

本文在生产分割的新经济地理模型基础上,对我国长三角地区的产业区位调整进行了实证检验。经验研究的结果证明了理论模型的结论,即生产分割情况下,制造业的空间区位同样存在类似于中心-外围的结构。但是影响不同产业区位调整的因素差异很大,这些因素的强弱也随时间而变化。这就启示决策部门,不仅要制定有效的政策参与生产分割过程,促进区域经济协调发展,而且要对政策进行合理的调整。     

The Impact of Industry Characteristics and IPR Policy on Foreign Direct Investment

This paper investigates the interaction of industry characteristics and intellectual property rights (IPRs) on multinational firm behavior. The results suggest that firms in industries with high capital costs are more likely to maintain control over production knowledge in countries with less intellectual property protection by engaging in foreign direct investment (FDI). Moreover, when IPRs are strong, firms in industries with high investment in research and development (R&D) are more likely to enter a market by licensing to an unaffiliated host firm. JEL no. F23, C25, O34     

外国直接投资的技术溢出效应——对中国四大高技术产业的分析

外商直接投资的溢出效应是有关外资间接效应的一个重要主题。已有的以发展中国家为对象的研究得出的结论莫衷一是,而以中国产业为分析对象的实证还不多。论文首先对国内外有关外资溢出效应文献作了回顾,然后对中国四大高技术产业的外商投资溢出效应产生的机制进行了描述和分析,最后运用来自这四个产业的面板数据,对这些产业从1997年至2002年的外商直接投资产生的生产率溢出效应的存在作了一个实证分析。     

对外贸易与国内产业地理：来自新经济地理学的研究综述

一国的对外贸易往往是塑造国内产业地理的重要力量。本文基于新经济地理学的视角综述了对外贸易与国内产业地理的相关研究,着重从理论渊源、城市经济、地区差距等角度分析一国贸易开放后国内制造业分布的空间变化,并对中国的对外贸易与东中西部产业空间结构的文献做了评述。在总结目前研究进展的基础上,文章最后得出了相关研究启示。