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Author: Alper Yilmaz
Publisher:
ISBN:
Category :
Languages : en
Pages : 226
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Author: Alper Yilmaz
Publisher:
ISBN:
Category :
Languages : en
Pages : 226
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Author: Margarita M. Kalamova
Publisher: Peter Lang Gmbh, Internationaler Verlag Der Wissenschaften
ISBN: 9783631621394
Category : Business & Economics
Languages : en
Pages : 131
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Book Description
The essays of this book are contributions to the empirical Literature in International Trade and Public Economics. They deal with the relationship between the structure and quality of the public sector and the process of economic integration. Two of the essays add to the empirical determinants of trade and foreign direct investment (FDI) and to the numerous applications of the theory of government decentralization. Decentralization tends to discourage inward FDI and domestic trade and to increase imports and exports. A third essay focuses on the effect of governments' intangible assets - such as consumer perceptions about countries and products from these countries - on FDI. A country's nation brand is shown to have a significant and large positive effect on investment flows.
Author: Norikatsu Hiraide
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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This dissertation consists of three essays. The first essay investigates the importance of preferential trade agreement (PTA) formation in attracting inflows of foreign direct investment (FDI). In particular, we examine the heterogeneous effects of different types of PTAs (FTAs or CUs) on the extensive and intensive margins of FDI and on how the interdependence among various PTAs may affect a country's ability to attract FDI inflows. We find that the larger the preferential markets to which a country has access, the larger the FDI inflows the country receives. Furthermore, we find that the type of PTA matters in determining FDI inflows. In this case, we find that the formation of CUs tends to promote FDI inflows more than the formation of FTAs. Our findings also indicate that the formation of PTAs significantly affects FDI through the intensive margin rather than through the extensive margin. Importantly, notice that these effects are driven by the preferential markets to which a country has access and that have not established a PTA with the FDI-originating (home) country, confirming that PTA interdependence matters in determining FDI inflows. The second essay examines the effects of U.S. exposure to international trade in goods and services on U.S. local labor markets. The paper finds that the average increase in U.S. exposure to FDI inflows increases the share of manufacturing employment, while the average increase in U.S. exposure to FDI outflows reduces the share of manufacturing employment in the U.S. local labor markets. Overall, the average increase in U.S. exposure to international trade in goods and services is associated with a 0.049 percentage point increase in the share of manufacturing employment from 1991 to 2007. We quantify the employment impact and find that the implied employment changes due to U.S. exposure to international trade in goods and services are about 1.36 million over the period 1991-2007. The paper also investigates the employment and wage effects of U.S. exposure to international trade in goods and services and finds the positive net employment and wage effects from 1991 to 2007. The third essay investigates the effects of the formation of PTAs on different FDI strategies, including vertical, horizontal, and export-platform FDI. In addition, we examine heterogeneous effects of different types of PTAs (FTAs or CUs) on the intensive and extensive margins of each type of FDI and on how the interdependence among various PTAs may affect a host country's ability to attract each type of FDI. We find that a host country enlarging preferential markets through the formation of PTAs with other economic partners promotes the U.S. multinationals' horizontal and export-platform FDIs. On the other hand, a host country forming a PTA with the U.S. receives more vertical FDI. Also, we find that the formation of CUs tends to promote horizontal and export-platform FDI more than the formation of FTAs. Moreover, our results show that U.S. multinationals increase each type of FDI through the intensive margin of FDI.
Author: Bedassa Tadesse Ayele
Publisher:
ISBN:
Category : Foreign exchange rates
Languages : en
Pages : 0
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Foreign direct investment (FDI) and international trade play key roles in enhancing global technology transfer, fostering economic growth, and the increasing integration of the global economy. A country's market maturity level and export platform status are particularly important in determining the amount of FDI andtrade that a country receives. This dissertation focuses on the host market characteristics, the FDI-trade interaction, and how exchange rate risk affects a nation's bilateral trade volume. The first essay examines whether FDI is a complement or a substitute to the bilateral trade (export sales) and the extent to which FDI-trade relationship is affected by the host's market characteristics. In addition to examining the same problem at a disaggregated industry level, the second essay examines theallocation of industry-specific manufacturing FDI across different host countries. Both essays, respectively, use country- and industry-specific Japanese bilateral trade and outward FDI (establishment counts and values) into geographically and economically diverse host nations. Results from the aggregate country-level analysis show that Japanese FDI and export sales during 1989-1999 were complementary. However, the results are sensitive to host's maturity level and export platform status. Results from industry-level analysis show that the relationship between Japanese manufacturing FDI and trade is industry specific. For example, while Japanese outward FDI complements industry specific export sales in food, beverage and tobacco industries, in wood products, furniture, and basic metal manufacturing industries, it substitutes export sales. The third essay investigates the effects of real exchange rate volatility due to shocks in both the fundamental and the microstructure component of the exchange rate on the volume of imports. Empirical results based on monthly bilateral trade data between the U.S., Canada, Germany and Hong Kong indicate that volatility in exchange rate due to shocks in the microstructure aspect of the exchange market has a trade depressing impact. The effect of volatility inthe fundamental exchange rate on the volume of trade, on the other hand, is mixed, suggesting the possibility that importers of different commodity groups treat the effect of exchange risk in the fundamental component on their trading activities differently.
Author: Jinzhuo Zhao
Publisher:
ISBN:
Category :
Languages : en
Pages : 236
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Author: Jakob Schwab
Publisher: Springer
ISBN: 3658228113
Category : Business & Economics
Languages : en
Pages : 150
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Book Description
Jakob Schwab analyzes central mechanisms in the systematic economic interaction between rich and poor countries. He focuses on the drivers and effects of investment in developing countries and shows that predictions of standard economic analysis may turn around when accounting for peculiarities of North-South globalization. The author shows how endowments with educational skill levels may lead to complementarity between trade and capital inflows, how inflows of direct investment capital may hinder income growth in poor countries, and how the distributional effects of the presence of multinational enterprises are perceived differently in countries of different development structures.
Author: Han Ping Davin Chor
Publisher:
ISBN: 9780549023234
Category :
Languages : en
Pages : 165
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Chapter 3 explores the effects of financial development in the FDI host country on multinational sales activity. Using data on US multinational activity abroad, we find that stronger host country financial development tends to lower the share of affiliate sales that remain in the local market, while increasing the share of sales to third-country destinations. We provide a three-country model with heterogeneous firms to rationalize these observations: Host countries with better financial development foster entry by domestic firms, resulting in a more competitive local market. This leads multinationals to orient their operations away from horizontal sales to the local market, towards export-platform sales to third-country markets instead.
Author: Marzia Raybaudi Massilia
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Author: Yi Sun
Publisher: Open Dissertation Press
ISBN: 9781361385333
Category :
Languages : en
Pages :
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Book Description
This dissertation, "Two Essays in International Trade and Foreign Direct Investment" by Yi, Sun, 孙熠, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. Abstract: This dissertation consists of two studies. The first study is about the effect of institutions on the realization of foreign direct investment (FDI), and the second study examines the role of Hong Kong as the export intermediaries for China's export. In the first study, we empirically examine the determinants for the breach of ex ante contracted FDI using a unique firm-level data set of foreign invested enterprises in China. We find that both the institutional quality of China's various regions as well as that of FDI sourcing countries have significant impacts on the fulfillment rate of ex ante contracted FDI. In the second study, we use China's Custom data to analyze the factors affecting the share of China's indirect exports routing through Hong Kong, and explore the reasons that account for the declining role of Hong Kong in China's export. We find evidence that Hong Kong plays a greater role when regions are geographically closer to Hong Kong yet poorer in institutional quality, or when destination countries are further away and have more complicated importing documents. It has an advantage in helping China export differentiated products rather than homogenous goods, whereas has no advantage in helping export China's new products. We find that the reallocation of China's export across regions, products and firm types contributes to the decrease of Hong Kong's role as China's export intermediary. We also find that firms with higher productivity or higher increase in productivity would be more likely to export directly rather than export through Hong Kong. DOI: 10.5353/th_b5312318 Subjects: International trade - China Investments, Foreign - China
Author: Chih-Min Pan
Publisher:
ISBN:
Category :
Languages : en
Pages : 166
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