Detail How Foreign Direct Investment in Pacific Asia Improves The Current Account   Oleh:  Fry, Maxwell J. Jenis: Article from Bulletin/Magazine Dalam koleksi: Journal of Asian Economics vol. 7 no. 3 (1996), page 459-486. Topik: investment; foreign direct investment; current account Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ50.1 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel This paper examines the effects of foreign direct investment (FDI) inflows to a group of six Pacific Basin economies and a control group of 11 other developing economies. The paper starts by estimating the contemporaneous and lagged effects of FDI in the Pacific Basin on capital formation, national saving, imports, exports, and economic growth in a five - equation macroeconomic model. Dynamic simulations indicate that, despite that fact that FDI increases domestic investment, the positive direct and indirect (through accelerated growth) effects of FDI on national saving actually leads to an improvement in the current account in the long run. This paper then shows that, outside the Pacific Basin, FDI has not increased aggregate domestic investment or economic growth. When the sample countries of the control group attracted more FDI inflows, national saving, domestic investment, and the rate of economic growth all declined. Hence, FDI appears to have been immizerizing in these countries. The paper concludes by pinpointing financial sector and foreign exchange distortions as the key variables accounting for the differential impacts of FDI in these two country groups. (JEL F21, F32) Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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