巴西利用外国直接投资及对我国的启示

自从第二次世界大战结束后,巴西开始重视利用外国直接投资,经历了三个阶段的转变,引导外国直接投资流向重点发展部门,在短时间内建立了新兴工业。巴西政府在利用外国直接投资过程中,强调外资来源多样化,引导外国直接投资投向经济欠发达地区,但工业部门受外资控制程度过高,政府部门对国内市场高度保护。我国应借鉴巴西的经验及教训,在吸收外国直接投资过程中保持谨慎,积极引导外商向中西部地区投资,加大引进发达国家直接投资的力度。     

专业服务业外国直接投资的全球发展格局研究及启示

专业服务业是新兴服务业中最具代表性的行业,也是目前国际市场上最活跃的分子之一。其发展的时间虽然不长,然而发展速度与程度都非常值得关注和研究。本文在分析相关数据资料的基础上,探讨专业服务业外国直接投资全球发展格局的主要特点,并针对专业服务业的发展特点与关键因素,提出对我国企业发展的启示。     

外国直接投资前景预测

各国都已认识了国外资本在本国直接投资对本国经济的极端重要性，它可以带来经贸合同，先进的管理方法和科学技术，所以外国直接投资前景广阔。     

我国利用外国直接投资过程中存在的问题及对策

自1979年以来,我国坚持对外开放的基本方针,积极引进外资,发展对外贸易,取得了举世瞩目的成就,同时,也出现了一些不容忽视的问题,给本国经济的进一步发展带来了负面影响。进入21世纪,随着经济全球化的不断深化和贸易投资自由化的推进,国际资本越来越成为重要的资源之一,各国政府都采取了积极的引资政策,加大了引资力度,我国利用外国直接投资面临着前所未有的挑战和强大的竞争压力。因此,克服利用外资中出现的问题,保证本国经济的健康和快速发展,制定相应的对策成为我国政府的必然选择。     

外国直接投资前景预测

当今世界，各国都认识到了国外资本在本国直接投资对本国经济的极端重要性。外资的进入，不仅可以给本国经济的发展注入必须的资金，而且同时可以带来经贸合同，先进的管理方法和科学技术。对世界各国尤其是发展中国家，外国直接投资已经成为促进本国经济长远发展的重要因素。由于外国直接投资对本国经济发展的重要性，世界各国尤其是发展中国家都在想方设法吸引外资。那么，未来几年，外国直接投资的走向究竟如何，对此，国外研究机构最近做了一项专门研究。该研究分析了影响外国直接投资的主要因素，包括吸收投资国的市场规模、经济发展前…     

内蒙古与山西利用外国直接投资的比较分析

内蒙古和山西都属于我国引入外国直接投资起步较晚的区域,两地在经济实力、地理位置和资源储备等方面存在着很多相似之处。近几年,两地政府不断改善投资环境,吸引外资流入,为本地经济发展获取了更多资金支持。本文将对两地利用外资的现状和经验进行总结,结合一带一路的发展机遇提出彼此在吸引外资上可以借鉴的成功做法。     

中国在拉丁美洲直接投资的国家风险研究

本文分析了中国企业在拉丁美洲投资遇到的国家风险类型与特征,包括政局动荡风险、社会治安问题风险、工会斗争风险、国有化风险、外债偿还和金融体制脆弱风险等。为了防范中国在拉丁美洲直接投资的国家风险,一方面政府要积极参与多边合作、加强信息服务和政策咨询服务、完善投资保险机制;另一方面企业投资前要做好国家风险的翔实评估,并积极实行"当地化"策略。     

外国直接投资、外国证券投资与经济增长:以美国为例

本文以美国1972-2002年的统计数据为例,在建立VAR模型的基础上通过脉冲响应曲线和方差分解表对流入美国的外国直接投资(FDI)、外国证券投资(FPI)和经济增长之间的关系进行了实证研究,结果表明流入美国的FDI和FPI均有助于美国经济的增长。但相对而言,美国经济增长更加依赖于外国证券投资,研究还发现流入美国的FDI与FPI之间关系紧密,两者之间存在积极的良性互动关系,且FPI对FDI的影响明显大于FDI对FPI的影响。     

俄罗斯吸引外国直接投资的政策研究

近年来,俄罗斯政治形势比较稳定,经济持续增长,吸引外国直接投资额迅速增长,同时是世界上吸引外国直接投资额增幅最大的国家之一。尽管还存在外国直接投资在外资总额和国内生产总值中比例不大、行业和地区分布不尽合理、投资环境也有待于进一步改善等问题,但是俄罗斯将成为外国直接投资热点之一已是不争的事实。     

Performance and Competitiveness of Latin American Cities: The Human Capital Case

Abstract

Besides the human capital, elements that make Latin American cities competitive include, for instance, their culture or financial maturity. However, the most important challenge for Latin American cities to succeed is how to manage all these variables. The purpose of this study is to identify the contribution of human capital and its relationships and impacts on the performance of Latin American cities. This quantitative, non-experimental, explanatory, correlational, and cross-sectional study observes factors that increase city competitiveness and develop their relationships. The study is based on the Economist Intelligence Unit database of 2012, in which 120 cities were evaluated, particularly contrasting Latin American cities with the top cities in the world and their characteristics. Urban competitiveness in Latin American cities can be predicted partially on the presence of Human Capital. In some instances, we found positive relationships between human capital and the characteristics considered in a city’s performance.     

Internationalization of multinational banks: a study of foreign direct investment in seven Latin American countries

The article attempts to explore and contrast the different factors that influence the foreign direct investment (FDI) decisions of multinational banks. Employing eclectic theory, an estimation model with panel data from seven Latin American countries is set to test the proposed hypotheses. The results highlight an increase in foreign assets, removal of banking restriction, banking concentration, and capital cost differential in the local banking system as determinants of specific location advantages for attracting banking FDI. Other factors such as cultural proximity and crisis also have a significant impact on banking FDI. Discussions and implications are debated before conclusions are drawn for a future research agenda.     

Risk,Return and Performance of Latin America's Equity Markets, 1975-1995

Abstract

This paper examines the investment performance of Latin American equity markets from 1975 through mid-1995. Latin American equity markets have been among the most volatile in the world over the past twenty years. However, their low correlation with other markets has provided diversification benefits. These markets have low liquidity and are concentrated in a few securities. The currencies of Latin American markets have depreciated dramatically against the U.S. dollar. Nevertheless, the investment performance of these markets has been impressive: Their compound returns in U.S. dollar terms have exceeded those of the U.S. and of emerging markets in other regions of the globe.

Este trabajo examina el desempeño de los mercados accionarios latinoamericanos desde diciembre de 1975 hasta junio de 1995. Estos mercados han tenido una de las volatilidades mas altas del mundo durante los veinte años examinados, sin emhargo sus bajas correlaciones con otros mercados han resultado en beneficios de diversificatión. En cada mercado el valor de la unidad monetaria local ha caido dramáticamente con respecto al dólar de Estados Unidos y también han existido problemas de liquidez. A pesar de ésto, el desempeño de los mercados accionarios en la región ha sido impresionante y sus rendimientos compuestos han superado los de los mercados de Estados Unidos y otras economías emergentes.

Esse trabalho examina o desempenho do investimento no mercado de aç[otilde]es da America Latina entre 1975 até os meados de 1995. Os mercados de aç[otilde]es latino-americanos encontram se entre os mais voláteis do mundo nos últimos 20 anos. Entretanto, a sua baixa correlação com outros mercados apresentou beneficios para a diversificação. Esses mercados apresentam baixa liquidez e são concentrados em umas poucas aç[otilde]es. As moedas dos mercados Latinoamericanos depreciaram dramaticamente contra o dólar americano. Entretanto, o desempenho de investimentos nesses mercados tem sido impressionantes: o retorno composto em dólares americanos excederam os dos Estados Unidos e os dos mercados emergentes em outras partes do mundo.     

The effect of inward FDI on outward FDI over time in China: A contingent and dynamic perspective

Drawing on the investment development path (IDP) framework and foreign direct investment (FDI) spillover literature, this study attempts to identify the contingent and dynamic effect of inward FDI (IFDI) on outward FDI (OFDI) at a provincial level. Using panel data from China, our findings reveal that the positive effect of IFDI on OFDI is stronger in provinces with high economic development, albeit at a diminishing rate over time. However, the level of corruption weakens the effect of IFDI on OFDI over time. Despite that, we find that the effect of IFDI on OFDI is not contingent on trade openness overall. By decomposing trade openness into two dimensions, that is, import intensity and export intensity, our findings indicate that the effect of IFDI on OFDI depends on export intensity, rather than import intensity. Our study provides insights into the complex effect of IFDI on OFDI from a contingent and dynamic perspective.     

FDI促进我国经济增长的思考

本文通过1985—2007年的实际利用外资和国内生产总值统计数据,运用协整检验,实证分析了外资在我国经济增长中的作用,得出了二者存在正向的长期均衡关系。并对利用外资引起的问题做了分析,给出了一些对策建议。     

Comprehending the outward FDI from Latin America and OCED: A comparative perspective

This study examines the determinants of outward foreign direct investment (FDI) from Latin American countries and compares it with their OECD counterparts. Our analysis is based on a sample of 45 countries, 13 from Latin America and 32 from the OECD, over the period 2001–2012. We find that the outward FDI from Latin America is more likely to be located in geographically proximate countries and in countries with similar culture and language than that from their OECD counterparts. We also show that Latin American outward FDI is less likely to be resource seeking. This presumably reflects the rich natural resource endowments and agricultural potential in major Latin American countries. Further, outward FDI from Latin America is more likely to be concentrated in countries with a similar corruption environment than that from their OECD counterparts. This might indicate a broadly similar nature of corruption across Latin America due to shared cultural, political and economic legacies.     

重庆市引进FDI的现状及其影响因素分析

近年来,重庆市吸引FDI(外商直接投资)的规模已经跻身西部省市前列,该成绩的取得主要是基于外资集聚程度、市场规模、基础设施水平和市场化程度方面的显著优势。FDI在重庆市的行业选择主要受行业比较优势、行业外资集聚程度和行业资本密集度等因素影响。因此,重庆市还应在提高研发能力、引导FDI在第三产业内部平衡布局、促进重点行业形成集聚效应等方面作出进一步的努力。     

Policy uncertainty and FDI: Evidence from national elections

This paper examines the impact of policy uncertainty on FDI among 126 countries from 1996 to 2015. Using the timing of national elections as a proxy for policy uncertainty, we find that FDI drops significantly in election years, when policy uncertainty increases. The negative effect of policy uncertainty on FDI also depends on the degree of democratization and the political system. In democracies and countries with the Assembly elected president, the decline of FDI in election years is far more pronounced. Our results highlight the role of policy environment and institution in economic development.     

Bulgaria's Inward FDI and EU Accession

Bulgaria's extraordinary openness performance in terms of international trade and inward foreign direct investment (FDI) volumes has not been affected by both the country's failure to reach the levels of structural transformation and technological upgrading achieved by Central and Eastern Europe member states and by the failure to comply with European Union (EU) law within certain time frames. Although a substantial literature has evolved on the country's inward FDI due to this performance, empirical microeconomic studies explore the time frame up to EU accession. This study focuses on the effect of EU accession in order to revisit Bulgaria's primary inward FDI determinants via a meso-economic panel analysis of disaggregated data by industry. The findings indicate the neglected importance of extra-EU exports as a driver of Bulgaria's inward FDI and the appropriateness of micro-/meso-approaches to the subject.