Do domestic firms benefit from FDI?: evidence from Korean manufacturing industries
1
조회
0
다운로드
0
인용
0
참고문헌
키워드
초록
FDI is considered to be a meaningful component for the economic growth of a country. But, it has not been proven clear that the effect of FDI is really beneficial in a host country regardless of the state of the countries. This paper tries to provide an evidence of the effect of FDI in developing country. To do this, we relate industry level value-added to inward and outward FDI stocks in Korea in a production function framework. Especially we divide inward FDI into FDI on the Greenfield projects and FDI for M&A. The results show that the effect of inward FDI as a whole on productivity is not statistically significant, though we can presume that the direction is positive, whereas the effect of outward FDI is strongly negative, and is statistically significant. But the effects of inward FDI by the characteristics of FDI are not differentiated
Abstract
FDI is considered to be a meaningful component for the economic growth of a country. But, it has not been proven clear that the effect of FDI is really beneficial in a host country regardless of the state of the countries. This paper tries to provide an evidence of the effect of FDI in developing country. To do this, we relate industry level value-added to inward and outward FDI stocks in Korea in a production function framework. Especially we divide inward FDI into FDI on the Greenfield projects and FDI for M&A. The results show that the effect of inward FDI as a whole on productivity is not statistically significant, though we can presume that the direction is positive, whereas the effect of outward FDI is strongly negative, and is statistically significant. But the effects of inward FDI by the characteristics of FDI are not differentiated
참고문헌 (19)
- Ahn, S, "The Economic Impacts of Outbound FDI and Trade: The Case of Korea. (Unpublished Paper)", ~ (2005)
- Aitken, B. J, "Do Domestic Firms Benefit from Direct Foreign Investment Evidence from Venezuela", The American Economic Review, 89(3), pp.605~618 (1999)
- Balasubramanyam, V. N, "Foreign Direct Investment and Growth in EP and is Countries", The Economic Journal, 106(434), pp.92~105 (1996)
- Barrios, S, "Foreign direct investment, competition and industrial development in the host country", European Economic Review, 49, pp.1761~1784 (2005)
- Bitzer, J, "The Impact of FDI on Industry Performance" (2005), The University of Nottingham Research Paper Series
- The Economics of Foreign Direct Investment Incentives, "Blomstr, M", NBER, ~, pp.9489 (2003)
- Inappropriate Pooling of Wealthy and Poor Countries in Empirical FDI Studies, "Blonigen, B. A", NBER, ~, pp.10378 (2004)
- Chuang, Y, "Foreign Direct Investment, R&D and Spillover Efficiency: Evidence from Taiwan’'s Manufacturing Firms", The journal of Development Studies, 35(4), pp.117~137 (1999)
- Gg H, "Much Ado about Nothing? Do Domestic Firms Really Benefit from Foreign Direct Investment? (Unpublished Paper)", ~ (2005)
- Kohpaiboon, A, "Foreign Direct Investment and Technology Spillover: A Cross-Industry Analysis of Thai Manufacturing", World Development, 34(3), pp.541~556 (2005)
- Kugler, M, "Spillovers from Foreign Direct Investment: Within or Between Industries?", Journal of Development Economics, 80, pp.444~477 (2006)
- Foreign Direct Investment And Wages In Indonesian Manufacturing, "Lipsey, R. E", NBER, ~, pp.8299 (2001)
- Liu, X, "Productivity Spillovers from Foreign Direct Investment: Evidence from UK Industry Level Panel Data", Journal of International Business Studies, 31(3), pp.407~425 (2000)
- Liu, X, "Does Foreign Direct Investment Facilitate Technological Progress?", ~ (2003)
- "Evidence from Chinese industries", Research Policy, 32, pp.945~953
- Mah, J. S, "Economic restructuring in post-crisis Korea", The Journal of Socio-Economics, 35, pp.682~690 (2006)
- Ramirez, M. D, "Is Foreign Direct Investment Beneficial for Mexico? An Empirical Analysis, 1960-2001", World Development, 34(5), pp.802~817 (2006)
- Sadik, A. T, "Capital Flows, FDI, and Technology Spillovers: Evidence from Arab Countries", World development, 29(12), pp.2111~2125 (2001)
- Takii, S, "Productivity spillovers and characteristics of foreign multinational plants in Indonesian manufacturing 1990-1995", Journal of Development Economics, 76, pp.521~542 (2005)