U.S. Competitive Position and Capital Investment Flows in the Economic Citizen Market: |
| |
| Authors: | Curtis M. JollyMary Knapp Tridoyo Kusumastanto |
| |
| Affiliation: | Curtis M. Jolly is an associate professor in the Department of Agricultural Economics and Rural Sociology, Alabama Experimental Station, Auburn University;Mary Knapp is national fisheries co-ordinator, Forest Service, United States Department of Agriculture, Washington, D.C., and Tridoyo Kusumastanto is lecturer and assistant dean, School of Business, Bogor University, Indonesia.] |
| |
| Abstract: | ABSTRACT Many countries hail economic citizenship as the new mechanism for encouraging capital mobility and economic development. Economic citizenship is the process of granting citizenship or residency to foreign individuals who have investment capital that will create jobs for citizens in the immigrant receiving country. Many developing and developed countries, including the Commonwealth of Dominica and Belize, Canada, Australia, and the United States, have embraced this concept with hopes of massive capital inflows to their countries. While this investment measure has been successful in a few countries, the U.S. has only been able to attract less than 10% annually of the targeted number of investors through this strategy. The U.S. has been further from its targeted annual allocation of visas than Dominica and Canada. The Economic Citizenship Program has less potential of affecting a small nation's levels of investment than a large one's. A number of socio-political and economic reasons, including program cost and social adjustment, cause a slow influx of new immigrants and investments to the U.S. |
| |
| Keywords: | |
|
|
