fdi在發(fā)展中國家的決定因素分析外文翻譯-文庫吧
2025-04-17 18:53 本頁面
【正文】 concludes that “the relation between FDI and many of the controversial variables (namely, tax, wages, openness, exchange rate, tariffs, growth and trade balance) are highly sensitive to small alterations in the conditioning information set”. The important question is “Why do panies invest abroad?” Dunning (1993) developed his theory by synthesizing the previously published theories, because existing explanations could not fully justify the existence of FDI. According to Dunning, international production is the result of a process affected by ownership, internalization and localization advantages. The latter is the most important: the factors based on which an investor selects a location for a project. These include the factors affecting the availability of local inputs such as natural resources, the size of the market, geographical location, the position of the economy, the cultural and political environment, factor prices, transport costs and certain elements of the economic policy of the government (trade policy, industrial policy, budget policy, tax policy, etc.). determinants of FDI: theory and evidence FDI has been regarded in the last decades as an effective channel to transfer technology and foster growth in developing countries. This point of view vividly contrasts with the mon belief that was accepted in some academic and political spheres in the 1950s and 1960s, according to which FDI was harmful for the economic performance of less developed countries. The theoretical discussion that permeated part of the development economics of the second half of the twentieth century has been approached from a new angle on the light of the New Growth Theory. Thus, the models built in this novel framework provide an interesting background in order to study the correlation between FDI and the growth rate of GDP (Calvo and Robles, 2020). In the neoclassical growth model technological progress and labor growth are exogenous, inward FDI merely increases the investment rate, leading to a transitional increase in per capita ine growth but has no longrun growth effect (Hsiao and Hsiao, 2020). The new growth theory in the 1980s endogenizes technological progress and FDI has been considered to have permanent growth effect in the host countr y through technology transfer and spillover. There is ongoing discussion on the impact of FDI on a host country economy, as can be seen from recent surveys of the literature (De Mello, 1997, 1999。 Fan, 2020。 Lim, 2020). According to the neoclassical growth theory model, FDI does not affect the longterm growth rate. This is understandable if we consider the assumptions of the model, namely: constant economies of scale, decreasing marginal products of inputs, positive substitution elasticity of inputs and perfect petition (Sass, 2020). Within the framework of the neoclassical models (Solow, 1956), the impact of FDI on the growth rate of output was constrained by the existence of diminishing returns in the physical capital. Therefore, FDI could only exert a level effect on the output per capita, but not a rate effect. In other words, it was unable to alter the growth rate of output in the long run (Calvo and Robles, 2020). As a consequence, of endogenous growth theory, FDI has a newlyperceived potential role in the growth process (BendeNabende and Ford, 1998). In the context of the New Theory of Economic Growth, however, FDI may affect not only the level of output per capita but also its rate of growth. This litera
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