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1.
Migrant networks and foreign direct investment 总被引:2,自引:0,他引:2
Beata S. Javorcik Ça?lar Özden Mariana Spatareanu 《Journal of development economics》2011,94(2):231-241
Although there exists a sizeable literature documenting the importance of ethnic networks for international trade, little attention has been devoted to studying the effects of migrants on foreign direct investment (FDI). The presence of migrants can stimulate FDI by promoting information flows across international borders and by serving as a contract enforcement mechanism. This paper investigates the link between the presence of migrants in the US and US FDI in the migrants' countries of origin, taking into account the potential endogeneity concerns. The results suggest that US FDI abroad is positively correlated with the presence of migrants from the host country. The data further indicate that the relationship between FDI and migration is stronger for migrants with tertiary education. 相似文献
2.
Dierk Herzer 《Review of International Economics》2012,20(2):396-414
Two main contributions to literature on foreign direct investment (FDI) and economic growth are made in this paper. First, the paper examines the effect of FDI on economic growth for 44 developing countries using heterogeneous panel cointegration techniques that are robust to omitted variables and endogenous regressors. The main result is that FDI has, on average, a negative effect on growth in developing countries, but there are large differences in the effect across countries. Second, a general‐to‐specific model‐selection approach is used to systematically search for country‐specific factors explaining the cross‐country differences in the growth effects of FDI. The results suggest that the cross‐country heterogeneity in the growth effect of FDI can be explained mainly by cross‐country differences in freedom from government intervention, business freedom, FDI volatility, and primary export dependence. 相似文献
3.
Resting upon an extensive data set on foreign invested enterprises (FIEs) in China, we investigate the role of institutional difference in determining the locational choice of foreign direct investment (FDI). Estimation results using firm-level discrete choice model suggest that FIEs from source countries that are more remote institutionally from the Chinese mainland exhibit a higher degree of sensitivity to regional economic institutions in their choice of FDI location. Furthermore, we find that FIEs coming from countries with better institutions than China are more sensitive to the institutional difference. Interestingly, we find that the deterrent effect of institutional distance on FDI entry is mitigated for FIEs coming from countries with more ethnic Chinese individuals in their overall populations. 相似文献
4.
国际直接投资与开放型内生经济增长 总被引:50,自引:1,他引:50
本文应用内生经济增长理论框架 ,着重就国际直接投资 (FDI)对高收入国家、中收入国家和低收入国家三种不同类型国家经济增长的影响进行理论和实证分析 ,认为FDI能内生技术溢出和技术进步 ,从而成为内生经济增长的重要源泉。本文对 65个样本国家的实证研究结果表明 ,FDI流入增长对高收入的发达国家经济增长作用比对中低收入发展中国家作用更明显。但FDI流入增长对我国经济增长和全要素生产率增长具有明显促进作用 ,其原因与FDI流入规模和我国的人力资本水平有关 相似文献
5.
This paper investigates business‐cycle effects for a country’s foreign direct investment (FDI) outflows. Ordinary least squares and panel regressions show that volatility in economic growth has a negative and significant impact on FDI outflows. Furthermore, we find different types of shocks have asymmetric impacts on FDI outflows. In other words, fluctuations of the same magnitude in a boom and a recession have different effects on FDI outflows. This relationship is more evident in OECD countries. We also include exchange rate volatility, lagged business‐cycle measure, and control for potential endogeneity problems as robustness checks. Our findings are robust across different specifications. 相似文献
6.
The existing empirical results on the relationship between FDI and migration are rather mixed. This study reevaluates, both theoretically and empirically, how inward FDI relates to emigration in developing countries. Our model illustrates that the relationship between inward FDI and emigration flows depends on the development stage of a developing country, that is, there is a positive association between inward FDI and emigration flows for relatively less‐developed countries but a negative association between these two variables for relatively developed countries. We confirm the empirical validity of our model prediction using the panel data of 21 OECD and 51 non‐OECD countries during the period from 2003 to 2012. Our results argue that as economic development proceeds in a developing country, the home effect of inward FDI associated with intensified labor demand would dominate the linkage effect that induces the brain drain problem through enhancing the socioeconomic ties with migrant networks. 相似文献
7.
Political economy scholarship on foreign direct investment (FDI) emphasizes variation in host country political risk but overlooks variation in investors' sensitivity to political risk. We show that relational contracting, relationship‐based contract enforcement, is more efficient for high‐risk, human capital‐intensive activities for which the costs of writing legally enforceable contracts are prohibitive. We disaggregate FDI into two distinct varieties: mergers and acquisitions (M&A) and venture capital (VC). We propose that VC flows are less sensitive to host institutions but correlate strongly with skilled migrant networks that monitor compliance and impose reputational costs. Our empirical analysis of dyadic VC and M&A flows covers over 100 countries during 1980–2009. We address other mechanisms through which migrant networks facilitate FDI and verify our results hold at the country‐industry level. These findings suggest that relational contracting facilitates global integration of dynamic, knowledge‐intensive industries even when formal institutions are weak. 相似文献
8.
为应对1997年东南亚金融危机冲击,我国政府把西部地区作为基础设施投资重点,取得了加快西部地区发展,同时刺激全国经济持续增长的成功经验。这证明,国家基础设施投资与区域发展战略耦合是一项值得重视的抵御国际金融危机冲击的经济增长策略。当前,为抵御新的国际金融危机冲击,我国政府实施了大规模的基础设施投资计划。国家宜把中部地区作为这轮基础设施投资的重点区域,以收到加快中部地区崛起步伐、营造区域热点、刺激全国经济持续增长的效果。 ? 相似文献
9.
Evidence shows that most foreign direct investment (FDI) flows from developed to developed countries (North–North) in skilled labor‐intensive industries. This paper builds a model that incorporates labor training into the proximity–concentration tradeoffs to analyze the entry mode of multinationals to a foreign country. Production requires both skilled labor and unskilled labor.. A multinational pursuing FDI needs to provide training to some workers in the host country to equip them with skills that are specific to the production of the firm. Labor training and skill specificity lead to contract friction. It is shown that in skilled labor‐intensive industries, FDI increases along with the economic development level of the host country, whereas in unskilled labor‐intensive industries, the reverse is true. This paper provides a theoretical explanation for the empirical findings on the prevalence of North–North FDI in skilled labor‐industries and North–South FDI in unskilled labor‐intensive industries. 相似文献
10.
双边投资协定、制度环境和企业对外直接投资区位选择 总被引:10,自引:4,他引:10
双边投资协定是两国政府为了促进和保护双边投资签署的协议。作为特定的联系两国的双边制度因素,双边投资协定给企业提供了不同于国家制度环境的保护,因而对企业的投资区位决策产生影响。本文建立了关于双边投资协定、东道国制度环境与母国制度对发展中国家企业对外投资区位选择作用的研究框架。基于中国上市公司2003年至2009年对外直接投资的数据,本文有三点发现:首先,双边投资协定能够促进企业到签约国投资;其次,双边投资协定能够替补东道国制度的缺位,对于促进企业到制度环境较差的签约国投资的作用更大;此外,双边投资协定还能够弥补母国制度支持的不均衡性,对于帮助非国有企业到签约国投资有着显著的积极作用。 相似文献
11.
《Review of Development Economics》2018,22(3):1263-1277
The integration of emerging markets into the global economy is heavily promoted by foreign direct investment (FDI ) inflows. Among the factors explaining the location of FDI , regional trade agreements (RTA s) can be relevant for emerging markets, as they can promote economic integration and increase the attractiveness of the region for foreign investors. This paper investigates the impact of South–South trade agreements on the FDI decision of multinationals, where the Agadir, mercado comun del sur (MERCOSUR), and ASEAN free trade area (AFTA) agreements are considered. Three panels of countries are defined, where the members joined a specific agreement or not. Non‐Gulf Arab states are compared to better performing regions in Latin America and Southern and Eastern Asia. The analysis provides evidence that openness to foreign trade and financial markets are among the main catalysts to attract FDI , provided that business‐friendly institutions exist in the host country. Other variables, like the size of the industrial sector, urbanization rates, and external debt appear to be important in some cases. The integration of China into the world economy is a specific trigger for FDI to Asian destinations. Since RTA s influence the market size by reducing barriers to trade, their impact operates via GDP growth and openness. Gains from the agreement are striking for Latin America and Asia, but not for Arab states. To attract more FDI , business‐friendly institutional reforms and mechanisms to support new firm foundation should be implemented in this region. 相似文献
12.
Jie Ma 《Review of International Economics》2013,21(5):984-995
This paper analyzes policy competition for a foreign‐owned monopolist firm between two asymmetric countries. In particular, one country has a larger economy than the other country. At the same time, the small country produces an intermediate good for the final good production, while the large country does not. We show that whether a country will win foreign direct investment (FDI) competition is determined by the interaction between relative transport costs of intermediate and final goods and the market size of the large country relative to that of the small country; and policy competition for FDI may Pareto weakly improve national welfare of the competing countries. 相似文献
13.
We use disaggregated data by country and industry to empirically analyze the host country determinants of Chinese outward foreign direct investment (FDI) for the years 2003 to 2011. Our results suggest that the host-country determinants of Chinese FDI differ between high- and low-income countries. While all Chinese FDI is invariably market seeking, other motivations stand out for differing sectors in specific country groups. The resource seeking motivation is relevant for manufacturing FDI to high-income countries with relatively high fuel abundance, and to low-income countries with primary resource abundance (other than fuels). Differently, the strategic-asset seeking motivation, measured by the level of R&D spending on GDP, only positively and significantly affects Chinese manufacturing and service FDI to OECD countries, while higher education levels are an attraction factor for all investing firms. Natural resource is an important attraction factor for Chinese FDI, not only in resource-related sectors, but also in manufacturing and service sectors. Finally, Chinese FDI tends to follow exports (rather than foster them), especially in service sectors. 相似文献
14.
Standard neoclassical models of economic integration are based on the assumptions that capital and labor are substitutes and that the geography of factor market integration does not matter. Yet, these two assumptions are violated if agglomeration forces among factors from specific source countries are at work. Agglomeration implies that factors behave as complements and that the country of origin matters. This paper analyzes agglomeration between capital and labor empirically. We use state-level German data to answer the question whether and how migration and foreign direct investment (FDI) are linked. Stocks of inward FDI and of immigrants have similar determinants, and the geography of factor market integration matters. There are higher stocks of inward FDI in German states hosting a large foreign population from the same country of origin. This agglomeration effect is confined to higher-income source countries. 相似文献
15.
Helga Kristjánsdóttir 《Scottish journal of political economy》2010,57(5):591-614
This research looks at how foreign direct investment (FDI) in a small open economy compares with that of larger countries. I apply several specifications of the knowledge‐capital model to unique FDI data from the isolated country of Iceland, allowing for comparison with previous analysis of larger and similarly open economies. Using this together with other techniques, I seek to explain investment determinants by geography, economic size and skilled labor availability. The results of these analysis show that popular specifications do not accurately predict the effects for a small country case. 相似文献
16.
This paper analyzes foreign direct investment (FDI) competition in a three‐country framework: two Northern countries and one Southern country. We have in mind the competition of Airbus and Boeing in a developing country. The host‐country government endogenizes tariffs, while Airbus and Boeing choose domestic output and FDI. Wages and employment in the home countries are negotiated. We find that in the unique equilibrium, both Airbus and Boeing compete to undertake FDI in the developing country. This arises because the host country can play off the multinationals, which in turn stems from three factors: (a) oligopolistic rivalry; (b) quid pro quo FDI; (c) strategic outsourcing—FDI drives down the union wages at home if the host‐country wage is sufficiently low. However, if the host‐country wage is sufficiently high, the union wage increases under FDI. In such cases, FDI competition benefits the multinationals, the labor unions, as well as the host country. 相似文献
17.
DOES FOREIGN DIRECT INVESTMENT PROMOTE ECONOMIC GROWTH? EVIDENCE FROM EAST ASIA AND LATIN AMERICA 总被引:4,自引:0,他引:4
KH Zhang 《Contemporary economic policy》2001,19(2):175-185
Although there is considerable evidence on the link between foreign direct investment (FDI) and economic growth in developing countries, causal patterns of the two variables has not been investigated yet with a reliable procedure. This article provides an empirical assessment of the issue by using data for 11 economies in East Asia and Latin America. Although FDI is expected to boost host economic growth, it is shown that the extent to which FDI is growth-enhancing appears to depend on country-specific characteristics. Particularly, FDI tends to be more likely to promote economic growth when host countries adopt liberalized trade regime, improve education and thereby human capital conditions, encourage export-oriented FDI, and maintain macroeconomic stability. 相似文献
18.
通过使用PVAR方法控制变量之间的内生性相互影响,分析检验FDI和研发投入对我国产业结构优化的影响。研究表明FDI对产业结构优化有显著地直接促进作用,此外通过促进国内研发投入,对产业结构优化也有间接促进作用。我国应根据各地经济发展不同状况制定不同的引资政策;同时增加研发投入,提高自主创新能力,以推进产业结构优化。 相似文献
19.
It is widely held that foreign direct investment (FDI) has a positive effect on economic growth. To test this hypothesis, we perform convergence regressions derived from a theoretical model on the impact of FDI on endogenous technological change in small economies. The model includes FDI externalities that enhance growth, but also shows that FDI can crowd out host country income and reduce local innovation. The empirical analysis employs disaggregated US data for various FDI‐related activities—in addition to the conventionally used aggregate FDI stocks and flows. We estimate the net FDI impact on the convergence rate of per‐capita income to US levels, controlling for human development, financial development, and trade. We find that FDI accelerates convergence for high‐income countries only, otherwise slowing it down. 相似文献
20.
影响中国电子行业出口决定因素的经验分析 总被引:28,自引:0,他引:28
本文利用中国电子工业子行业面板数据实证分析1999—2002年期间该行业出口的决定因素,特别是外商直接投资(FDI)的作用。我们发现FDI尤其是来自港澳台的FDI和规模经济对出口有正向作用。我们同时发现国有资本份额与出口负向相关,而资本密集度、研发和人力资本并不是影响中国电子行业出口的重要因素,表明中国的电子企业大多仍处于国际产品分工链的低端。本文有两个原创性贡献:第一是区分不同国别(地区)FDI对中国电子产品出口影响的差异,并发现港澳台地区资本较西方国家资本对中国电子产品出口影响更大;第二是发现劳动力成本水平因素影响FDI对出口作用程度的大小。这些结果具有重要的政策涵义。 相似文献