This paper has empirical character and investigates locational determinants of the inward foreign direct investment （FDI） stock among 50 states of the United States. The analysis uses annual data for the period from...This paper has empirical character and investigates locational determinants of the inward foreign direct investment （FDI） stock among 50 states of the United States. The analysis uses annual data for the period from 1997 to 2007. The study identifies several state-specific determinants of FDI and investigates the changes in their importance during the study period. Our results show that among the major determinants, the real per capita income, real per capita expenditure on education, FDI related employment, plus real research and development expenditure are found to have a significant positive impact on inward FDI. There is also evidence that manufacturing density and unionization exert a small positive impact on inward FDI. In addition, per capita state taxes, the share of scientists and engineers in the workforce, real capital expenditure, and unemployment rate exert a negative impact on FDI.展开更多
This paper constructs a two-stage sequential game model to shed light on the spillover effect of inward FDI on the efficiency of domestic firms in host countries.Our model shows that,given an optimal joint-venture pol...This paper constructs a two-stage sequential game model to shed light on the spillover effect of inward FDI on the efficiency of domestic firms in host countries.Our model shows that,given an optimal joint-venture policy made by foreign firms,the impact of the spillover effect of inward FDI is contingent upon the productivity gap between the domestic firms and foreign ones.In particular,we demonstrate that the spillover effect of inward FDI varies negatively with the productivity gap between domestic lowproductivity firms and foreign firms but works in the opposite way for high-productivity firms.This suggests that once the productivity gap widens,the entry of foreign firms will increase the efficiency of high-productivity firms but reduce the efficiency of lowproductivity firms.In support of our theoretical model,we provide robust empirical results by using the dataset of annual survey of Chinese industrial enterprises.展开更多
This paper presents an empirical study of how U.S. antidumping （AD） actions against China affect China ＇s inward and outward foreign direct investment （FDI） based on the international division of labor model. Our...This paper presents an empirical study of how U.S. antidumping （AD） actions against China affect China ＇s inward and outward foreign direct investment （FDI） based on the international division of labor model. Our findings are as follows： （1） The U.S.-China trade deficit has been widened by both downstream firms in China established through vertical FDI and also inward enterprises established through horizontal FDI. The widening deficit in turn exacerbates vitriolic complaints in the U.S. about injury to its industries. This will lead to further U.S. AD actions discouraging FDI in China. （2） U.S. AD cases against China have negatively impacted China＇s metal manufacturing, chemical and, especially, textile industries in terms of exports and inward FDI. From 2004 to 2009, the share of total inward FDI going to China＇s manufacturing sector has dropped drastically by almost 20 percent. This supports predictions made using the international division of labor model. （3） With U.S. AD actions against Chinese products on the rise, Chinese firms chose not to circumvent such barriers through outward FDI in the U.S. but rather through outward FDI in tax havens. Such a pattern of outward FDI is not helpful for China to establish its own successful industrial development model.展开更多
In this paper we investigate the mechanisms underlying dynamic linkages between inward FDI and outward internationalization in the Chinese automotive industry. While several studies have examined the relationship betw...In this paper we investigate the mechanisms underlying dynamic linkages between inward FDI and outward internationalization in the Chinese automotive industry. While several studies have examined the relationship between inward and outward FDI using empirical data, this is among the first to employ a case study approach to investigate how international joint ventures （IJVs） established between foreign and Chinese automakers can shape their internationalization motivation, degree, and speed. We discuss some unique features of Chinese carmakers with and without IJVs to elucidate how firms without IJVs will be more driven to expand internationally while firms with IJVs face constraints in venturing abroad.展开更多
Brazil,Russia,India and China are all the developing emerging economic power and the proportion out of global FDI increase gradually.However,the four countries have the common points while each country has its own fea...Brazil,Russia,India and China are all the developing emerging economic power and the proportion out of global FDI increase gradually.However,the four countries have the common points while each country has its own feature in the pattern of inward FDI.This paper will give the detailed introduction about the condition of IFDI in BRICs and the determinants about inward FDI in BRICs.展开更多
文摘This paper has empirical character and investigates locational determinants of the inward foreign direct investment （FDI） stock among 50 states of the United States. The analysis uses annual data for the period from 1997 to 2007. The study identifies several state-specific determinants of FDI and investigates the changes in their importance during the study period. Our results show that among the major determinants, the real per capita income, real per capita expenditure on education, FDI related employment, plus real research and development expenditure are found to have a significant positive impact on inward FDI. There is also evidence that manufacturing density and unionization exert a small positive impact on inward FDI. In addition, per capita state taxes, the share of scientists and engineers in the workforce, real capital expenditure, and unemployment rate exert a negative impact on FDI.
文摘This paper constructs a two-stage sequential game model to shed light on the spillover effect of inward FDI on the efficiency of domestic firms in host countries.Our model shows that,given an optimal joint-venture policy made by foreign firms,the impact of the spillover effect of inward FDI is contingent upon the productivity gap between the domestic firms and foreign ones.In particular,we demonstrate that the spillover effect of inward FDI varies negatively with the productivity gap between domestic lowproductivity firms and foreign firms but works in the opposite way for high-productivity firms.This suggests that once the productivity gap widens,the entry of foreign firms will increase the efficiency of high-productivity firms but reduce the efficiency of lowproductivity firms.In support of our theoretical model,we provide robust empirical results by using the dataset of annual survey of Chinese industrial enterprises.
基金This paper is sponsored by the Chinese National Social Science Foundation Project （grant llBJY142）, Chinese MOE Project of Key Research Institute of Humanities and Social Sciences at Universities （grant 08JJD790138）, Shanghai Pujiang Program Project （grant 2011C）, Shu Guang Project of Shanghai Educational Development Foundation （grant llSGl0） and 985＇Third Period Project of Fudan University （grant 2011SHKXZD002）.
文摘This paper presents an empirical study of how U.S. antidumping （AD） actions against China affect China ＇s inward and outward foreign direct investment （FDI） based on the international division of labor model. Our findings are as follows： （1） The U.S.-China trade deficit has been widened by both downstream firms in China established through vertical FDI and also inward enterprises established through horizontal FDI. The widening deficit in turn exacerbates vitriolic complaints in the U.S. about injury to its industries. This will lead to further U.S. AD actions discouraging FDI in China. （2） U.S. AD cases against China have negatively impacted China＇s metal manufacturing, chemical and, especially, textile industries in terms of exports and inward FDI. From 2004 to 2009, the share of total inward FDI going to China＇s manufacturing sector has dropped drastically by almost 20 percent. This supports predictions made using the international division of labor model. （3） With U.S. AD actions against Chinese products on the rise, Chinese firms chose not to circumvent such barriers through outward FDI in the U.S. but rather through outward FDI in tax havens. Such a pattern of outward FDI is not helpful for China to establish its own successful industrial development model.
基金The authors acknowledge the financial support from National Science Foundation of China＇s key project ＂Foreign Direct Investment and Overseas M＆As Strategy of Chinese Firms＂ （No. 71132002）.
文摘In this paper we investigate the mechanisms underlying dynamic linkages between inward FDI and outward internationalization in the Chinese automotive industry. While several studies have examined the relationship between inward and outward FDI using empirical data, this is among the first to employ a case study approach to investigate how international joint ventures （IJVs） established between foreign and Chinese automakers can shape their internationalization motivation, degree, and speed. We discuss some unique features of Chinese carmakers with and without IJVs to elucidate how firms without IJVs will be more driven to expand internationally while firms with IJVs face constraints in venturing abroad.
文摘Brazil,Russia,India and China are all the developing emerging economic power and the proportion out of global FDI increase gradually.However,the four countries have the common points while each country has its own feature in the pattern of inward FDI.This paper will give the detailed introduction about the condition of IFDI in BRICs and the determinants about inward FDI in BRICs.
