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The Effect of National Ethical Environment on Japanese FDI in Developing and Developed Countries 国家伦理环境对日本在发展中国家和发达国家直接投资的影响
Pub Date : 2017-01-01 DOI: 10.2139/ssrn.3277685
P. Beamish, George Z. Peng, Jean-Marie Nkongolo-Bakendo
We examine the relationships between national ethical environment (NEE) and foreign direct investment (FDI) in developing and developed countries from an institutional theory perspective. Based on an NEE measure developed by Franke and Nadler (2008) and FDI data from the Ministry of Finance of Japan, we find that the relationship between the level of NEE and Japanese FDI inflow is positive for developing countries, but negative for developed countries. Our findings highlight the need to consider both transaction cost and conformity cost when studying FDI behavior, and to distinguish between developing and developed countries due to the fundamental differences in sensitivity of each cost to institutions in these two settings. We call for a refocus on institutional theory’s core purpose of understanding how organizations acquire institutional conformity without sacrificing their internal efficiency. This study also sheds new light on how FDI behaves with regard to ‘socially responsible international business’.
本文从制度理论的角度考察了发展中国家和发达国家的民族伦理环境与外国直接投资之间的关系。基于frank和Nadler(2008)提出的新能源经济指标和日本财务省的FDI数据,我们发现新能源经济水平与日本FDI流入之间的关系在发展中国家为正,在发达国家为负。我们的研究结果强调,在研究外国直接投资行为时,需要同时考虑交易成本和整合成本,并区分发展中国家和发达国家,因为在这两种情况下,每种成本对制度的敏感性存在根本差异。我们呼吁重新关注制度理论的核心目的,即理解组织如何在不牺牲内部效率的情况下获得制度一致性。这项研究还揭示了外国直接投资在“对社会负责的国际商业”方面的表现。
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引用次数: 0
Technology Spillovers from FDI. Evidence on the Intensity of Different Spillover Channels 外国直接投资的技术溢出效应。不同溢出渠道强度的实证研究
Pub Date : 2016-12-01 DOI: 10.1111/twec.12335
C. Jude
The aim of this paper is to empirically disentangle specific channels of technology spillovers from FDI to domestic firms. To this end, we look into the mechanisms of technology diffusion through FDI and investigate six measures of spillovers in a sample of Romanian firms for the period 1999–2007. Our results show that the position in the supply chain is essential for capturing FDI spillovers, as local suppliers enjoy productivity gains, while local clients suffer productivity losses. We also show that foreign affiliates internalise all benefits associated with supplier upgrading, thus raising concerns about the social return on technology transfer. Additionally, our approach allows us to separate horizontal spillovers into a competition effect, an imitation/demonstration effect and a labour mobility component. We find only labour mobility to act as an efficient channel for horizontal knowledge diffusion, even though its direction depends highly on human capital.
本文的目的是实证分析FDI对国内企业技术溢出的具体渠道。为此,我们研究了通过外国直接投资的技术扩散机制,并调查了1999年至2007年期间罗马尼亚公司样本的六项溢出措施。我们的研究结果表明,在供应链中的位置对于获取外国直接投资溢出效应至关重要,因为当地供应商享受生产率的提高,而当地客户则遭受生产率的损失。我们还表明,外国子公司内部化了与供应商升级相关的所有利益,从而引发了对技术转让社会回报的担忧。此外,我们的方法允许我们将横向溢出效应分为竞争效应、模仿/示范效应和劳动力流动成分。我们发现只有劳动力流动才是横向知识扩散的有效渠道,尽管其方向高度依赖于人力资本。
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引用次数: 56
Vertical Foreign Direct Investment: Make, Sell and (Not) Buy 垂直外国直接投资:制造、出售和(不)购买
Pub Date : 2016-11-23 DOI: 10.2139/ssrn.2887934
Chrysovalantou Milliou, J. Sandonís
According to conventional wisdom, multinational firms undertake vertical FDI in order to take advantage of cross-border factor cost differences and source the inputs from abroad at better terms. Recent empirical findings though document that this is not always the case. We provide theoretical support to the latter by demonstrating that when there is transfer of intangible assets between a multinational’s vertically related production plants, its parent firm can engage in vertical FDI in order to improve its cross-threat and its input sourcing terms domestically and not abroad as well as in order to exploit its intangible assets in another country. We also investigate the effects of trade liberalization and the welfare consequences of vertical FDI.
根据传统观点,跨国公司进行垂直FDI是为了利用跨境要素成本差异,并以更好的条件从国外获得投入。然而,最近的实证研究表明,情况并非总是如此。我们为后者提供了理论支持,证明当跨国公司垂直相关的生产工厂之间存在无形资产转移时,其母公司可以从事垂直FDI,以改善其交叉威胁和其在国内而不是国外的投入采购条件,以及为了开发其在另一个国家的无形资产。我们还研究了贸易自由化的影响和垂直FDI的福利后果。
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引用次数: 0
World FDI, an 'Unequal Partners' and 'Concentric Circles' Design Part VI the Eurasian Story of International Capital Studying Asia. The Whole Continent 世界外国直接投资,一个“不平等的伙伴”和“同心圆”的设计第六部分:国际资本研究亚洲的欧亚故事。整个大陆
Pub Date : 2016-09-27 DOI: 10.2139/SSRN.2844454
D. Andrei, L. Andrei
This article continues the previously promised series to focus on FDI & DIA, as unitary fluid substance world owned, and so flows and stocks and country actors carrying these, but respective amounts unevenly distribute on these country actors. This meets circumstances of a game theory, or so. Dynamics mean individual country versus world speed difference along the 1994-2015 interval, in which the 1994 stocks cumulate FDI & DIA flows since 1990, and top countries range up to an important majority of stocks amounts in the total (85-95%) and so a relatively stable percentage, on the one hand, and down to 0.2% on FDI/inflows and to 0.1% of the same total world stocks on DIA/outflows, on the other. This article below, again, will start treating (analyzing and debating) about the Asian continent.
本文将继续以前承诺的系列文章,重点讨论作为世界拥有的单一流体物质的FDI和DIA,以及承载它们的流量和库存以及国家行为体,但它们各自的数量在这些国家行为体上分布不均。这符合博弈论的情况。动态是指1994-2015年期间单个国家与世界的速度差异,其中1994年的库存累积了自1990年以来的FDI和DIA流量,排名前几位的国家的库存数量占总量的重要部分(85-95%),因此一个相对稳定的百分比,一方面,FDI/流入下降到0.2%,DIA/流出下降到相同的世界总库存的0.1%。下面这篇文章将再次开始讨论(分析和辩论)亚洲大陆。
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引用次数: 0
FDI and the Task Content of Domestic Employment for U.S. Multinationals FDI与美国跨国公司国内就业的任务内容
Pub Date : 2016-09-01 DOI: 10.24149/gwp286
A. Grimm, Mina M. Kim
Using a unique dataset, we examine how the foreign direct investment activities of U.S. multinational manufacturers are related to the composition of their domestic employment. The analysis is based on a dataset in which Bureau of Economic Analysis (BEA) firm-level data on the foreign operations of U.S. multinationals are matched with Bureau of Labor Statistics (BLS) establishment-level data on occupation and wage distributions. The main implication of our findings is that foreign direct investment is generally positively correlated with domestic labor demand, with automated/routine tasks representing an important exception. For firms that export a significant amount to their foreign affiliates for further processing, foreign labor in low-income countries appears to substitute for domestic labor in automated/routine tasks. Our results show that these firms tend to be younger and smaller. They do not seem to be more engaged in innovative activity at home compared to other multinational manufacturers in our sample.
我们使用一个独特的数据集,研究了美国跨国制造商的外国直接投资活动与他们的国内就业构成之间的关系。该分析基于一个数据集,其中经济分析局(BEA)关于美国跨国公司海外业务的公司层面数据与劳工统计局(BLS)关于职业和工资分布的企业层面数据相匹配。我们研究结果的主要含义是,外国直接投资通常与国内劳动力需求呈正相关,自动化/常规任务是一个重要的例外。对于向其外国附属公司出口大量产品进行进一步加工的公司来说,低收入国家的外国劳动力似乎在自动化/常规任务中取代了国内劳动力。我们的研究结果表明,这些公司往往更年轻,规模更小。与我们样本中的其他跨国制造商相比,他们似乎并没有更多地参与国内的创新活动。
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引用次数: 2
National FDI Policy Competition and the Changing International Investment Regime 国家外国直接投资政策、竞争与变化中的国际投资体制
Pub Date : 2016-08-27 DOI: 10.7916/D81V5KND
K. Sauvant
This contribution to a Festschrift for Dr. SKB Asante, the leading in-house expert on matters related to investment policy-making at the United Nations Centre on Transnational Corporations, discusses a number of issues related to investment policy-making at the national and international levels these. At the national level, the focus is on policies aimed at competing for, and benefitting more from, foreign direct investment (FDI), as well as policies supporting outward FDI. At the international level, the focus is on the rise of bilateral investment treaties and the changing perspectives of developed and developing countries on the international investment regime. It discusses not only where we stand today in these areas, but it identifies also some of the challenges we face. These challenges arise from the growth of FDI, which is the culmination of the emergence of an integrated international production system established by multinational enterprises through a myriad of equity and non-equity relationships and the evolution of national and international investment policies. The growth of FDI, an integrated international production system, and the global value chains associated with it was possible because of an enabling policy framework, both at the national and international levels. The hallmarks of this framework are that countries not only allow FDI to take place, but actively seek to attract and protect it through international investment agreements, especially bilateral investment treaties.
联合国跨国公司中心有关投资决策问题的主要内部专家SKB Asante博士的这篇论文讨论了一些与国家和国际一级的投资决策有关的问题。在国家一级,重点是旨在争取外国直接投资和更多地从外国直接投资中获益的政策,以及支持对外直接投资的政策。在国际一级,重点是双边投资条约的增加和发达国家和发展中国家对国际投资制度的看法的变化。它不仅讨论了我们今天在这些领域所处的位置,而且还指出了我们面临的一些挑战。这些挑战来自外国直接投资的增长,这是跨国企业通过各种股权和非股权关系以及国家和国际投资政策的演变建立的综合国际生产系统的出现的结果。外国直接投资的增长、一体化的国际生产体系以及与之相关的全球价值链之所以成为可能,是因为在国家和国际两级都有一个有利的政策框架。这一框架的特点是各国不仅允许外国直接投资的发生,而且还积极寻求通过国际投资协定,特别是双边投资条约来吸引和保护外国直接投资。
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引用次数: 2
FDI and Business Internationalization of the Unorganized Sector: Evidence from Indian Manufacturing 外国直接投资与无组织部门的商业国际化:来自印度制造业的证据
Pub Date : 2016-07-01 DOI: 10.2139/ssrn.2825046
H. Beladi, Meghna Dutta, S. Kar
Available evidence, though limited to the organized sector only, suggests that FDI flowing in with MNE activities or direct FIIs generate technological and market access spillovers for firms outside the core group in destination countries. We investigate the organizational link between formal and informal sectors in India and argue that the spread of internationalization is more when production outsourcing prevails between such units. Higher wage in the organized sector is a factor that breaks standard institutional barriers leading to outsourcing of production to informal units. The evidence is puzzling to the extent that foreign capital and better know-how as drivers of international business to developing countries usually relax the credit constraint facing formal sector units at the destination and cause expansion of formal units. Using a measure of technology and a panel data for a large number of industrial units in India, we show that FDI transmitted through technology spillover leads to significant increase in the gross value added for several industries located in the informal sector. The paper points out that production re-organization associated with international capital movements should provide additional insights for standard measures of internationalization of production and services.
现有的证据虽然仅限于有组织的部门,但表明随着跨国公司活动流入的外国直接投资或直接外国直接投资对目的国核心集团以外的公司产生了技术和市场准入溢出效应。我们调查了印度正规部门和非正规部门之间的组织联系,并认为当生产外包在这些单位之间盛行时,国际化的传播会更多。有组织部门较高的工资是打破导致生产外包给非正式单位的标准制度障碍的一个因素。证据令人困惑,因为外国资本和更好的技术作为向发展中国家开展国际业务的驱动力,通常会放松目的地正规部门单位面临的信贷限制,并导致正规部门的扩张。通过对印度大量工业单位的技术测度和面板数据分析,我们发现,通过技术外溢传递的外国直接投资导致位于非正式部门的几个行业的总增加值显著增加。本文指出,与国际资本流动相关的生产重组应该为生产和服务国际化的标准措施提供额外的见解。
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引用次数: 25
Foreign Direct Investment in India's Retail Sector and Farmers' Productivity: Few Issues 印度零售业的外国直接投资与农民生产力:几个问题
Pub Date : 2016-06-24 DOI: 10.2139/ssrn.2801000
Murali Patibandla
Productivity is generally defined as the amount of output realised for a given level of inputs. The neo-classical growth theory considers productivity as a function of technology and capital accumulation. In this paper, I argue that apart from technology and capital, productivity depends on institutional factors such as property rights, incentives, transaction, and information costs. Foreign direct investment in India’s retail sector can bring in the best practices of supply-chain management and reduce transaction and information costs of input and output markets and thereby contributes to farmers’ productivity. I bring forth a few conceptual issues and qualitative empirics on this topic.
生产率通常被定义为在一定投入水平下实现的产出量。新古典增长理论认为生产率是技术和资本积累的函数。在本文中,我认为除了技术和资本,生产率还取决于制度因素,如产权、激励、交易和信息成本。印度零售业的外国直接投资可以带来供应链管理的最佳实践,降低投入和产出市场的交易和信息成本,从而有助于提高农民的生产力。我在这个主题上提出了一些概念问题和定性经验。
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引用次数: 0
Dutch Disease, Real Effective Exchange Rate Misalignments and Their Effect on GDP Growth in the EU 荷兰病、实际有效汇率失调及其对欧盟GDP增长的影响
Pub Date : 2016-05-05 DOI: 10.2139/ssrn.2779348
Mariarosaria Comunale
In this article we study the impact of real effective exchange rate misalignments, based on determinants, including different types of foreign capital inflows, on GDP growth in the EU. This can provide a useful contribution to understanding the causal link between inflows, real effective exchange rate disequilibria and GDP growth during both the boom and the crisis period. For this analysis, we use a panel of 27 EU countries for the period 1994–2012, with annual frequency. We find that the core countries have been mostly undervalued from the crisis onwards, while the periphery (excluding Ireland) were overvalued starting from 2003–2004, as expected. Concerning the new Member States, these are persistently overvalued for the entire time span. The results seem to be generally driven by the inflows of banking loans more than by FDIs or portfolio investments. In the second stage, we study the influence of exchange rate misalignments and volatilities on growth. We argue that the real effective exchange rate misalignments associated with the inflows have been a further cause for decline in GDP, in a long-run perspective, while they do not play a role in the short run. The exchange rate volatilities and the undervaluation dummy are not robust in affecting GDP growth, while spillovers and global factors seem to matter in all the specifications both in the short and long run.
在本文中,我们基于决定因素(包括不同类型的外国资本流入)研究了实际有效汇率失调对欧盟GDP增长的影响。这有助于理解在繁荣时期和危机时期,资本流入、实际有效汇率失衡和GDP增长之间的因果关系。为了进行这一分析,我们使用了一个由27个欧盟国家组成的小组,时间为1994-2012年,频率为每年一次。我们发现,自危机以来,核心国家大多被低估,而外围国家(不包括爱尔兰)从2003-2004年开始被高估,正如预期的那样。关于新会员国,它们在整个时期内一直被高估。这一结果似乎总体上是由银行贷款流入推动的,而不是由外国直接投资或证券投资推动的。在第二阶段,我们研究汇率失调和波动对经济增长的影响。我们认为,从长期来看,与资本流入相关的实际有效汇率失调是GDP下降的进一步原因,而它们在短期内没有发挥作用。汇率波动和低估假人对GDP增长的影响并不强劲,而溢出效应和全球因素似乎在短期和长期的所有规范中都很重要。
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引用次数: 62
Relationship in between FDI Inflow and Economic Growth in Kosovo 科索沃FDI流入与经济增长的关系
Pub Date : 2016-04-30 DOI: 10.26417/EJES.V4I1.P50-57
Xhavit Islami, Enis Mulolli, Nagip Skenderi
This study treats the relationship of foreign direct investment (FDI) and economic development in Kosovo. FDI is considered as an important factor of economic growth of places in development, so rightly the question is asked: “Which is the impact of FDI inflow on economic growth of Kosovo?” This study shows the relationship in between FDI inflow and five macroeconomic indicators that have an important role in economic development of Kosovo such as: GDP, GDP per capita, GNI, Exports, and Balance Trade. The data were taken from World Bank and the statistic agency of Kosovo for 2005 to 2014 period. Pearson Correlation technique was used for empirical analysis that is realized with SPSS v. 21.0 statistical program, the results showed that there is a positive relationship in between FDI inflow and GDP growth, whereas there is a negative relationship of FDI inflow and trade balance of Kosovo. This study arguments what is necessary to be done in leading policies to attract foreign direct investment in Kosovo.
本研究探讨外国直接投资(FDI)与科索沃经济发展的关系。外国直接投资被认为是发展中地区经济增长的一个重要因素,因此人们理所当然地提出了这样一个问题:“外国直接投资流入对科索沃经济增长的影响是什么?”本研究显示了FDI流入与五个宏观经济指标之间的关系,这些指标在科索沃的经济发展中起着重要作用,如:GDP,人均GDP, GNI,出口和平衡贸易。数据取自世界银行和科索沃统计机构2005年至2014年期间的数据。运用Pearson相关技术进行实证分析,利用SPSS v. 21.0统计程序实现实证分析,结果表明FDI流入与科索沃GDP增长呈正相关,FDI流入与科索沃贸易收支呈负相关。这项研究讨论了在科索沃吸引外国直接投资的主要政策中需要做些什么。
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引用次数: 5
期刊
PSN: Foreign Direct Investment (International) (Topic)
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