International Productivity Differences and the Roles of Domestic Investment,FDI and Trade

This paper calculates Theil's entropy index to measure the extent of productivity differences across 92 countries for the period from 1970 to 2003. While there is evidence of increasing differences in productivity across these countries, we observe different patterns when we group the countries by income levels. These differences seem to be decreasing among middle income developing and developed countries, whereas they seem to be widening among low and high income developing countries. The results of our multivariate time series analysis also suggest that FDI increases productivity differences among low and high income developing countries, whereas GDI reduces these differences among low income countries in the long-run. Granger causality test results indicate that while an increase in GDI leads to a decline in growth of trade, a higher growth of trade appears to be important for attracting FDI to middle income countries. Furthermore, a reduction in productivity differences and a higher FDI growth lead to higher growth of trade in developed countries.     

The Rules for Foreign Investment in NAFTA

Abstract

The North American Free Trade Agreement (NAFTA) produced a new set of rules for foreign direct investment (FDI). These applied the principle of national treatment, with the exception of a set of explicitly excluded sectors such as energy and automobiles. NAFTA also increased transparency and applied dispute settlement provisions for FDI disputes. The improved, rules-based climate for FDI can help increase FDI in NAFTA and stimulate growth and competitiveness. The rules for FDI in NAFTA can also serve as a model for other agreements such as the OECD's multilateral agreement on investment and the emerging investment liberalization of APEC.

El tratado de libre comercio (TLC) de America del Norte produjo un nuevo conjunto de reglas para la inversión directa extranjera (IDE) en la region. En particular, en esta nueva regulación se da el tratamiento de nacional a la IDE con la excepcion de algunos sectores como la energia y los automobiles. Adicionalmente, el TLC mejoro la transparencia y los mecanismos de negociacion para la resolucion de disputas y diferencias en materia de inversión directa extranjera. Con esta nueva regulación, tambien se puede esperar un incremento en la IDE y un nuevo crecimiento y competitividad en toda la region del TLC. La nueva regulación del TLC en America del Norte, puede servir como modelo para otros acuerdos como los de inversion multilateral de la OECD y los de liberalizacion de la inversion de la APEC.

O Acordo de Livre Comércio Norte-Americano (NAFTA) produziu um novo conjunto de regras para o investimento direto estrangeiro (IDE). Essas regras aplicaram o principio do tratamento nacional, com a exceção de um conjunto de setores explicitamente excluídos tais como os setores de energia e automobilistico. O NAFTA também aumentou a transparência and aplicou provis[otilde]es para a resolução de disputas às disputas relativas ao IDE. O clima de IDE melhorado, baseado em regras, pode ajudar a aumentar o IDE no NAFTA e estimular o crescimento e a competitividade. As regras para FDI no NAFTA também podem servir de modelo para outros acordos como o acordo multilateral sobre investimento da OCDE e a para a emergente liberalização de investimentos na área da APEC.     

Do regions matter? An integrated institutional and semiglobalization perspective on the internationalization of MNEs

Traditional research suggests a relationship between country‐level institutions and the location choices of MNEs. However, more recent theory suggests MNEs also focus on regions (semiglobalization). Therefore, this study examines institutional effects in the context of semiglobalization by considering the influences of three formal institutions (i.e., regulatory control, political democracy, capital investments) of countries and geographic regions on MNEs' location choices of internationalization. We use a sample of Japanese MNEs operating in 45 countries within eight regions. The results show that their degree of internationalization into a country is influenced by both country and regional institutional environments. Additionally, a semiglobalization perspective provides better explanatory power than does the country‐level perspective. These results present a new perspective on how MNEs consider institutional environments in their international strategy. Copyright © 2013 John Wiley & Sons, Ltd.     

人民币有效汇率对中国进出口贸易影响的研究

人民币在升值过程中伴随着贸易顺差增速过快的问题。人民币的升值虽能对进出口起到一定的促进作用,但不能从根本上解决贸易顺差的问题。解决贸易顺差问题的首要前提是要认清人民币升值的消极影响,其消极影响主要体现在对我国劳动密集型的出口企业造成冲击、影响外商投资积极性、增加企业对外经营合作风险三个方面。有针对性地消除人民币升值的消极影响,有助于解决贸易不平衡问题。具体需要政府引导企业转变贸易发展方式,合理选择和利用外资,同时,出口企业应结合金融工具与财务手段规避外汇结算风险。     

‘What’s the Story in Balamory?’: The Impacts of a Children’s TV Programme on Small Tourism Enterprises on the Isle of Mull,Scotland

Film- and television-induced tourism effects have been witnessed in a number of locations world-wide, creating a range of positive and negative impacts for host communities and environments. The children’s television programme Balamory, filmed on the Isle of Mull, Scotland, has created a new tourism phenomenon for the island, leading to concern that Mull’s reputation as a green destination for the discerning might be displaced by a less desirable form of tourism. Through a questionnaire survey of tourism businesses on Mull, this paper explores the perceptions of television-induced tourism and the effect of Balamory on business activity during the 2003 season, exploring customer numbers, spending, turnover and profitability, along with attitudes to the new visitors. The research also explores the implications for sustainable tourism development, particularly recognising the limited life-span of film- and television-induced tourism and issues relating to displacement of traditional markets, with an emphasis on sustaining tourism as a means of generating revenue to support a rural island community.     

Regional economic integration and multinational firm strategies

This paper analyzes the effects of regional economic integrations on investment patterns among multinational firms. We develop a model in which heterogeneous firms decide on the optimal foreign direct investment (FDI) strategies for serving trade-integrated regions consisting of asymmetric countries: developed and developing nations. Following reduced trade costs within the trade-integrated region, our model shows that integrating into a regional economic zone affects firms with relatively low productivity levels to enter developing nation within the region via complex FDI – a firm activity of engaging in multiple types of FDI. Specifically, we show that depending on the size of the region respective to the home country, complex FDI involves different investment patterns. Using Korean firm- and plant-level data, we specify a binary choice model to link firms’ choice of FDI strategies with their productivity levels and trade-integrated regions. Our empirical results are consistent with the theoretical implications.     

Foreign direct investment and employment: host country experience

This study investigates the effect of foreign direct investment (FDI) on employment creation and wages in Ghana. A simultaneous panel regression model is used in estimating the effect FDI has on employment and wages. The results of this study indicate that FDI has a statistically significant and positive effect on employment levels in Ghana, but has an insignificant effect on wages. FDI can greatly augment domestic efforts by creating more jobs in the economy. The results clearly demonstrate that FDI flows affect employment quantitatively, but not necessarily qualitatively. The study identifies other factors including, productivity, wages, sub-sector, and location as important in influencing employment levels. Also, productivity, labour union, firm size, sub-sector, and location are noted as significant in affecting wages in Ghana. The main value of this paper is in respect of the fact that it provides insight into the effects of FDI flow on employment from a host country perspective. The study recommends that FDI should be considered as an integral part of the Ghanaian economic policy in order to spur on economic growth.     

“校企联合”开发基于CDIO的《网络组建与管理》精品课程的研究

本文在对CDIO教学模式进行介绍的基础上，提出“校企联合”课程开发模式的基本理论，论述了“校企联合”开发基于CDIO的《网络组建与管理》精品课程的开发方法和步骤，企业专家在这种开发模式中的重要作用，以及“校企联合”创建模式的若干要素。     

A Heckscher–Ohlin–Samuelson Model of Immigration and Capital Transfers

Given that the flow of immigrants from a developing country to an industrialized country increases with the gap in living standards, a welfare version of a Heckscher–Ohlin–Samuelson model is developed in which the equilibrium level of per capita utility in the developing country is some fixed fraction of that in the industrialized country. In searching for an optimal combination of immigration to the industrial country and capital transfer to the poorer country in order to raise that country's standard of living and reduce the number of emigrants, it is found that the international optimum is a corner solution with zero immigration and a positive capital transfer.