Substitution between foreign capital in china, india, the rest of the world, and latin america: much ado about nothing? PDF Download
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Author: Marcelo Olarreaga
Publisher: World Bank Publications
ISBN: 0070920095
Category :
Languages : en
Pages : 32
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Book Description
This paper explores the impact of the emergence of China and India on foreign capital stocks in other economies. Using bilateral data from 1990-2003 and drawing from the knowledge-capital model of the multinational enterprises to control for fundamental determinants of foreign capital stocks across countries, the evidence suggests that the impact of foreign capital in China and India on other countries' foreign capital stocks has been positive. This finding is robust to the use of ordinary least squares, Poisson, and negative binomial estimators; to the inclusion of time and country-pair fixed effects; to the inclusion of natural-resource endowments; and to the use of the sum of foreign capital stocks in Hong Kong (China) and mainland China instead of using only the latter's foreign capital stocks. There is surprisingly weak evidence of substitution in manufacturing foreign capital stocks away from Central America and Mexico in favor of China, and from the Southern Cone countries to India, but these findings are not robust to the use of alternative estimation techniques.
Author: Marcelo Olarreaga
Publisher: World Bank Publications
ISBN: 0070920095
Category :
Languages : en
Pages : 32
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Book Description
This paper explores the impact of the emergence of China and India on foreign capital stocks in other economies. Using bilateral data from 1990-2003 and drawing from the knowledge-capital model of the multinational enterprises to control for fundamental determinants of foreign capital stocks across countries, the evidence suggests that the impact of foreign capital in China and India on other countries' foreign capital stocks has been positive. This finding is robust to the use of ordinary least squares, Poisson, and negative binomial estimators; to the inclusion of time and country-pair fixed effects; to the inclusion of natural-resource endowments; and to the use of the sum of foreign capital stocks in Hong Kong (China) and mainland China instead of using only the latter's foreign capital stocks. There is surprisingly weak evidence of substitution in manufacturing foreign capital stocks away from Central America and Mexico in favor of China, and from the Southern Cone countries to India, but these findings are not robust to the use of alternative estimation techniques.
Author: Daniel Lederman
Publisher: World Bank Publications
ISBN: 0821373099
Category : Political Science
Languages : en
Pages : 362
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Book Description
The economic successes of China and India are viewed with admiration but also with concern because of the effects that the growth of these Asian economies may have on the Latin American and Caribbean (LAC) region. The evidence in 'China's and India's Challenge to Latin America' indicates that certain manufacturing and service industries in some countries have been negatively affected by Chinese and Indian competition in third markets and that LAC imports from China and India have been associated with modest unemployment and adjustment costs in manufacturing industries. The book also provides substantial evidence of positive aggregate effects for LAC economies associated with China's and India's greater presence in world exports, financial flows, and innovation. Chinese and Indian growth is creating new production possibilities for LAC economies, particularly in sectors that rely on natural resources and scientific knowledge.
Author: John Weiss
Publisher: Routledge
ISBN: 113669885X
Category : Business & Economics
Languages : en
Pages : 447
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Book Description
The Routledge Handbook of Industry and Development is a global overview of industrialisation. Each chapter will provide readers with contemporary insights into this this essential aspect of economic development. Industrialisation has been at the forefront of discussion on economic development since the earliest days of development economics. But over the last fifty years, the manufacturing sectors of different countries and regions have grown at strikingly different rates. In 1960 developing countries took a very small share of global manufacturing production. Today the position had changed radically with fast growth of manufacturing in many parts of what was originally the developing world, particularly in China and the rest of East Asia. On the other hand, countries in Africa and parts of Latin America have been largely left behind by this process of industrialisation. This volume aims to illuminate this uneven development and takes stock of the current issues that hinder and support industrialisation in low and middle income economies. This Handbook is a collection of chapters on different aspects of industrialisation experience in a range of countries. Key themes include, the role of manufacturing in growth, the nature of structural change at different stages of development, the role of manufacturing in employment creation, alternative options for trade and industrial policy, the key role of technology and technical change, and the impact of globalisation and the spread of global value chains and foreign direct investment on prospects for industrialisation. Several chapters discuss individual country experiences with examples from India, Mexico, South Africa and Tanzania, as well as an overview of African industrialisation. This authoritative Handbook will be a key reference source for those studying or wishing to understand contemporary economic development. Offering inspiration and direction for future research, this landmark volume will be of crucial importance to all development economics scholars and researchers.
Author: Niccolo Locatelli
Publisher: Universal-Publishers
ISBN: 1599423901
Category :
Languages : en
Pages : 158
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Book Description
Relations with Latin America have never been and will probably never be a priority for the People's Republic of China (PRC), as they will be a dependent variable of domestic economic needs and other more important foreign policy goals among all, the ties with the United States. During the first forty years of existence, geopolitical and economic considerations (Latin America was considered to be Washington's backyard and the economies of the region were not complementary with that of China) were keeping the PRC away from the area; nevertheless, things have changed ever since the end of the Cold War, and more so since the new millenium. The PRC finds in Latin America a market of 500 million people and an almost infinite source of commodities: it currently gets from here around 17% of its overall agricultural products imports, and 11% of its fuel and mining ones. It is a big buyer of three of the four Latin American commodities (soy, copper and oil) and it's increasing its purchases of the fourth, coffee. The region is also a valuable partner in the struggle for a new world order, more democratic and more concerned with the stakes of the developing countries; it is a 33-wide voting block whose consensus is useful whenever the human rights policy of the PRC comes under the scrutiny of the United Nations or any of its agencies. Finally, Latin America is a pawn in the battle for the sovereignty over Taiwan, since 12 of the 23 countries that recognize the Republic of China (ROC) are in the area, mainly in Central America and the Caribbean, plus Paraguay alone in South America. For Latin America, the PRC is a huge 1.3 billion people market and a potential source of much-needed Foreign Direct Investment, which in actuality turns out to be smaller than expected and mostly concentrated in the fiscal heavens of the Caribbean. Politically, besides the partnership in the struggle for a new world order, the mere existence of a China-option is itself a source of leverage when Latin American countries have to deal with the United States, who now have to face a competitor on trade and politic issues in what used to be their backyard. Apparently, deepening ties with Latin America is a winning solution for the PRC. The same is not completely true for Latin America, whose relationship with Beijing can be beneficial, but with some caveats. As far as bilateral trade is concerned, the problem is that of export concentration: in 2006, 62.5% of the region's exports to China were in the commodity sector - it was just 35% in 1995. This leaves Latin America, especially South America, exposed to the price volatility of its resources, which is historically more elevated than that of the manufactured goods and breeds macroeconomic uncertainty in a region that has always struggled with that issue. Furthermore, export concentration in the commodity sector, as far as the terms of trade are favorable as in the years before the ongoing global crisis, might hinder the upgrading of the industrial structure of those countries who find in it an easy and quick source of revenues. A positive effect on the welfare of the people and the fight against poverty and inequality is not automatically related to the blossoming of exports of natural resources, but depends on economic policy choices. A more recent, less studied aspect of Sino-Latin American trade is the increasing penetration of Chinese manufactured goods in the domestic markets of the region: while initially outplacing foreign competitors, the flow is becoming a source of concern for businesses in the textile sector of countries like Argentina, Brazil, and Mexico, who find it hard to compete with the minimum cost of labor that makes Chinese goods so cheap. That explains why the region has tariffs on imports from the Middle Kingdom that are 10% above world average (20% in the case of South America). Competition with Chinese manufactures in the third markets is also Central America's main problem in its re
Author: International Transport Forum
Publisher: OECD Publishing
ISBN: 9282101789
Category :
Languages : en
Pages : 470
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Book Description
Opportunities for individuals and businesses to benefit from globalisation are increased by efficient, cost-effective transport networks. A competitive, responsive, well-organised transport sector facilitates trade and creating the conditions for this poses policy challenges that must be tackled.
Author: Dr. V.V.L.N. Sastry
Publisher: Idea Publishing
ISBN:
Category : Business & Economics
Languages : en
Pages : 212
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Book Description
India is the second most populous country in the world. India’s economy is characterized by marginalization and exclusion due to social inequalities. Low rates of female participation in the labor force has also hampered the growth of the Indian economy. The majority of businesses in India are small-scale enterprises (SSEs). It does not have adequate skilled workers given that its system of offering vocational training is not tailor-made to address the specific needs of the informal or casual labor force which makes up for at least 90% of the total workers in India. State governments play a major role in the allocation of resources as they account for approximately 57% of total expenditure in India. Most Indian firms depend on politicians and public officials for resources supplied by the government to facilitate various aspects of their operations. Agriculture, manufacturing, and services are the main economic sectors in India. Therefore, they would provide a good indication of the economic health of the country. India has one of the largest service sectors in the world and is the export hub of software services. Its market share in the total global outsourcing market is approximately 55%. India’s middle class is expected to grow economically to account for 17% of the global consumption, which would be second largest in the world. Increase in the young working population is also expected to contribute towards the future growth of the manufacturing sector in India. India is the 7th largest country in the world in terms of national nominal GDPs. But, the GDP does not commensurate with the population it boasts of as the per capita income is very low and lesser than per capita income of Argentina, Malaysia,Mexico, and Nigeria. It is also the third largest economy in the world in terms of national purchasing power parity (PPP). However, India is striving to achieve economic development to match the economies of developed nations. India has a long way to go to match these economies. This book deals with the finer aspects of India’s GDP and introspects the reasons for its low GDP.
Author: World Bank
Publisher: World Bank Publications
ISBN: 0821367285
Category : Business
Languages : en
Pages : 216
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Book Description
Over the next 25 years developing countries will move to center stage in the global economy. Global Economic Prospects 2007 analyzes the opportunities - and stresses - this will create. While rich and poor countries alike stand to benefit, the integration process will make more acute stresses already apparent today - in income inequality, in labor markets, and in the environment. Over the next 25 years, rapid technological progress, burgeoning trade in goods and services, and integration of financial markets create the opportunity for faster long-term growth. However, some regions, notably Africa, are at risk of being left behind. The coming globalization will also see intensified stresses on the "global commons." Addressing global warming, preserving marine fisheries, and containing infectious diseases will require effective multilateral collaboration to ensure that economic growth and poverty reduction proceed without causing irreparable harm to future generations."
Author:
Publisher: World Bank Publications
ISBN: 0821377779
Category : Africa, North
Languages : en
Pages : 220
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Book Description
China and India's spectacular economic rise over the last two decades has accelerated their trade and investment flows with the Middle East and North Africa (MENA), particularly with the oil-producing countries. And while these flows are still small, China and India's presence in the region is on the rise. This report focuses on the following questions: what have been evolution and the impact of MENA's trade and investment relations with China and India? what actions can be taken to maximize the benefits from these relations and to enhance MENA's international integration? The main findings indicate that the region as a whole has benefited from the rise of China and India in terms of better terms of trade, significant increases in oil and gas exports, and cheaper imports. However, producers of industrial goods have been negatively-and in a few cases severely-affected by competition with the two Asian countries in both third and domestic markets. While China and India are investing more in MENA, they are contributing very little to job creation or to the transfer and diffusion of technology. Faster growth in the two Asian countries-and the associated higher demand for energy-will increase revenues from oil and the difficult choices associated with their management. For the labor-abundant, non oil-producing countries, competition with China and India will increase. But the lack of competitive manufacturing industries and services, the insufficient attention given in the past to building technological capabilities and promoting openness and entrepreneurship are constraining their ability to respond to competition. They need to accelerate productivity to tackle unemployment, especially among youth. This may require the broader institutional changes seen in China and India-suggesting the importance of a pragmatic reform agenda that can accelerate productivity, trade, and investment in the region.
Author: John McGreal
Publisher: Troubador Publishing Ltd
ISBN: 1785892215
Category : Psychology
Languages : en
Pages : 192
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Book Description
It’s Silence, Soundly, It’s Nothing, Seriously and It’s Absence, Presently, continue The ‘It’ Series published by Matador since The Book of It (2010). They constitute another stage in an artistic journey exploring the visual and audial dialectic of mark, word and image that began over 25 years ago. In their aesthetic form the books are a decentred trilogy united together in a new concept of The Bibliograph. All three present this new aesthetic object, which transcends the narrow limits of the academic bibliography. The alphabetical works also share a tripartite structure and identical length. The Bibliograph itself is characterised by its strategic place within each book as a whole as well as by the complex variations in meaning of the dominant motifs – nothing/ness, absence and silence – which recur throughout the alphabetical entries that constitute the elements of each text. It’s Nothing, Seriously, for example, addresses the amusing paradox that so much continues to be written today about – nothing! The aleatory character of the entries in the texts encourage the modern reader to reflect on each theme and to read them in a new way. The reader is invited as well to examine their various inter-textual relations across given conventional boundaries in the arts and sciences at several levels of physical, psychical & social reproduction.
Author: International Monetary Fund. Research Dept.
Publisher: International Monetary Fund
ISBN: 1589067193
Category : Business & Economics
Languages : en
Pages : 302
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Book Description
The global expansion is losing speed in the face of a major financial crisis. The slowdown has been greatest in the advanced economies, particularly in the United States, where the housing market correction continues to exacerbate financial stress. The emerging and developing economies have so far been less affected by fi nancial market developments and have continued to grow at a rapid pace, led by China and India, although activity is beginning to slow in some countries. At the same time, headline infl ation has increased around the world, boosted by the continuing buoyancy of food and energy prices. Policymakers around the world are facing a diverse and fast-moving set of challenges, and although each country's circumstances differ, in an increasingly multipolar world it will be essential to meet these challenges broadly, taking full account of cross-border interactions. The World Economic Outlook (WEO) presents the IMF staff's analysis and projections of economic developments at the global level, in major country groups (classified by region, stage of development, etc.), and in many individual countries. It focuses on major economic policy issues as well as on the analysis of economic developments and prospects. It is usually prepared twice a year, as documentation for meetings of the International Monetary and Financial Committee, and forms the main instrument of the IMF's global surveillance activities.
