Determinants of technology investment from China into Latin America

Alvar Castello Esquerdo
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Abstract

ABSTRACT This research aims to study the determinant of Chinese technology FDI into Latin America, to identify the role of macroeconomic and institutional environment in their investment location choice, and to reveal the influence of key country-level effects. The results indicate that the host country’s economic development and the China-host country trade agreements positively influence Chinese technology investments, while the home economic growth of China might hinder them. These findings suggest a market-seeking motivation rather than the traditional resource-seeking one, whereas the institutional and cultural distance seems not deter Chinese technology investment into the region. Our findings suggest that Chinese OFDI toward Latin America is strongly driven by state-owned enterprises (SOEs) and thanks to the support of their government, maybe less concerned by the host country's institutional environment. This research contributes to a better understanding of the location decision-making of MNEs from emerging markets carrying out investments in others emerging economies.
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中国对拉美技术投资的决定因素
本研究旨在研究中国科技企业对拉美直接投资的决定因素,确定宏观经济环境和制度环境在其投资区位选择中的作用,并揭示关键国家层面效应的影响。结果表明,东道国的经济发展和中国与东道国的贸易协定对中国技术投资有正向影响,而中国国内的经济增长可能会阻碍中国技术投资。这些发现表明,中国的动机是市场寻求,而不是传统的资源寻求,而制度和文化距离似乎并没有阻碍中国对该地区的技术投资。我们的研究结果表明,中国对拉美的对外直接投资受到国有企业的强烈推动,并得益于其政府的支持,可能较少受到东道国制度环境的关注。本研究有助于更好地理解新兴市场跨国公司在其他新兴经济体进行投资时的区位决策。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
4.50
自引率
5.00%
发文量
22
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