外文翻譯---對(duì)外投資和發(fā)展國(guó)內(nèi)政策和國(guó)際投資協(xié)議的作用-展示頁(yè)
2025-05-27 09:56本頁(yè)面
【正文】 a broader group of developing countries and to ensure that investment activity leads to development. The need is particularly pressing for small economies which have seen growth rates decline pared to larger low and middleine states. Addressing this need means making developing countries more attractive to investors. All investors make decisions about where and when to invest based on their expectations about the future in light of their specific business strategy. Some of the factors relevant to investor decisionmaking are outside the control of governments. A country’s natural resource endowment is an obvious example. Nevertheless, domestic policies in a host country can both improve investors’ expectations regarding the likely returns associated with their investments and enhance the prospect that their expectations will be realized making the country more appealing as an investment destination. In countries as diverse as India, China, Turkey and Indonesia, investment has been facilitated through domestic policy reform to protect property rights, improve transparency of government operations and reduce distortions associated with administrative practices. In Africa, a few countries, including Tanzania and Ghana, have taken similar steps. Developing a strategy for achieving a domestic policy environment that contributes to development as well as attracting investment, however, requires understanding the linkages between investment and development. Factors affecting the development impact of FDI Attracting investment is not an end in itself. To be desirable, investment must contribute positively to development. Studies that have attempted to find a clear link between FDI and development, however, have been inconclusive. There is no doubt that FDI can contribute to economic growth and poverty reduction by supplementing local sources of investment capital and increasing employment and local tax revenues. As well, FDI can have a variety of positive spillovers in terms of improved local productivity and innovation and the transfer of new technologies and production and management techniques. There can also be costs. Domestic investment may be crowded out and domestic petition and entrepreneurship may be suppressed. FDI may worsen ine inequality and encourage reliance on the exploitation of local natural resources at the expense of the development of other productive sectors of the economy. In some cases, the activities of foreign investors have had a negative impact on human rights and the environment. As noted, the risk of negative effects may be greatest in relation to FDI in extractive industries, the most important sector for foreign investment in many developing countries. One of the benefits associated with economic activity generated by FDI is that ine from that activity may produce tax revenues that can be applied to fund social and other programmers designed to achieve development goals. In many developing countries, however, weak taxation regimes mean that governments do not succeed in capturing an adequate share of the ine resulting from FDI. Ine that is captured is sometimes squandered rather than reinvested to support longterm growth, including future foreign investment. Whether FDI will contribute to sustainable development will depend on a host of local factors including the nature and abilities of its human capital, the effectiveness of its environmental, labor and human rights standards and its tax system, its regulatory capacity and its capacity to absorb technology, which, in turn, is a function of its human resources and its technological infrastructure. How domestic policy can affect these factors to enhance FDI development impact is discusse
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