Foreign Direct Investment and State Export Performance

Since the early 1980s, there has been widespread debate over the impacts of rising levels of inward foreign direct investment (FDI) on the U.S. economy. A frequently noted, but little studied, issue within the debate is the impact of FDI on U.S. foreign trade, and particularly, on the foreign trade of U.S. regions. This study assesses the effects of FDI on the manufacturing export performance of U.S. states during the period from 1980 to 1991. Results indicate that increased levels of FDI are positively related to future improvements in state manufacturing export performance.     

Foreign Direct Investment and Regional Export Performance in China

This paper investigates the impact of foreign direct investment (FDI) on the export performance of China at the provincial level. First, it presents a theoretical discussion of the impact of FDI on foreign trade, and then an empirical study of the impact of FDI on the export performance of regions in Chin. It has been found that the impact of FDI on exports differs across three macro-regions in China. The effect is stronger in the coastal region than in the inland regions. Although FDI shows a positive and significant impact on exports from the central region, its impact on the western region is found to be insignificant.     

TNC Strategies and Variations in Intra-firm Trade: The Case of Foreign Manufacturing Affiliates in Sweden

The aim of this paper is to contribute to the understanding of the forms and determinants of intra-firm trade, i.e. international trade between different units under common TNC ownership, this being a major indication of 'deep economic integration' between developed countries in the 1990s. Theoretically, intra-firm trade can be explained by the existence of economies of common governance and are often found to be associated with R&D-intensive industries and economies of scale. In empirical studies, intra-firm trade is often found to consist of intermediate inputs goods, resulting in vertically integrated production chains. The study is based on detailed firm-level data from around 300 foreign majority-owned affiliates (MOFAs) in manufacturing, in Sweden in 1993. The results show that intra-firm sales by MOFAs in Sweden are as high as those found in studies of manufacturing affiliates of US TNCs. Almost all of MOFAs' intra-firm exports are finished products, while intra-firm imports consist of material inputs and finished products for resale. This suggests that these MOFAs are only marginal involved in vertically integrated production chains, especially in terms of exports. The results of a regression analysis complement earlier studies by showing that the level and composition of intra-firm trade is significantly affected by the international strategy applied by TNCs when operating foreign manufacturing affiliates. Intra-firm exports of finished products and material inputs are positively associated with efficiency-seeking FDI, e.g. affiliates engaged in rationalised production. Market-seeking FDI is associated with intra-firm imports of complementary finished products for resale. By contrast, resource-seeking and strategic asset-seeking FDI was negatively associated with intra-firm trade.     

Region‐specific determinants of the foreign direct investment in China

This study revisits region‐specific determinants of foreign direct investment (FDI) in Eastern, Central, and Western China using econometric and spatial analyses. It uses a data set covering 31 Chinese provinces and autonomous regions spanning the period 2005–15, together with panel data regression. Our statistical results show that in Eastern China, FDI is significantly associated with bilateral trade, orientation towards the service industry, industrialisation level, and availability of strategic assets in the region. In Central China, FDI is mainly pulled by availability of the domestic market and strategic assets in the region. In Western China, FDI inflows are mainly determined by natural resource endowment, industrialisation level, and regional innovation and production effectiveness in information and communication technology industries. Our analysis also reveals the impact of FDI in China's regional development and its capacity to hollow out the three Chinese macro‐regions. Our findings for China lead us to suggest that those governments seeking to attract FDI should not solely rely on it to facilitate local economic development and should make use of local circumstances in combination with FDI to boost their economies.     

Resource nationalism or resource liberalism? Explaining Australia's approach to Chinese investment in its minerals sector

Since 2005, a burgeoning wave of Chinese investments has set off a new ‘minerals boom’ in the Australian iron ore and coal mining sectors. While normally a welcome development, the state-owned and strategic nature of the investors has raised concerns in Australia about how these should be regulated. As a result, in February 2008 the Australian government declared an intention to more closely screen foreign direct investment (FDI) from state-owned sources, which both supporters and detractors alike have claimed is evidence of ‘resource nationalism’ in Australia's approach towards its trade and investment relationships with China. This article challenges this understanding through an examination of the characteristics of Chinese mining FDI, the dilemmas these present to the Australian government, and the relatively restrained nature of its response. Through this, Australia's FDI policy is explained as a defensive move against the potential for strategic behaviour by Chinese investors resulting from their state ownership, rather than any national program to subject minerals trade and investment to political control. On this basis, the article argues that Australian government policy instead evidences a ‘resource liberalism’ approach, which intends to ensure that the governance of Australia's minerals trade and investment with China remain market-based processes.     

Foreign Trade in China's Electronics Industry

Three Taiwan-based economists examine the effects of GDP, per capita GDP, geographic distance, FDI outflows and inflows, openness to trade, bilateral investment treaties, and other factors on the volume of bilateral trade between China and 40 of its trading partners in the up-, mid- and downstream segments of the country's electronics industry. Pooled cross-section and time-series data are employed in an empirical estimation for the period 1995-2005, which indicate that the Chinese electronics sector's import/export volumes have grown substantially alongside China's economy. The authors address a specific set of issues questioning whether FDI inflows have created a trade effect in the electronics industry, whether they have lead to a measure of import substitution in China's electronics industry, and whether the net impact of opening the market has been positive or negative on the sector's foreign trade. Journal of Economic Literature, Classification Numbers: F14, F21, L63, O53, P33. 6 tables, 23 references.     

中国外商投资区位选择的时空格局与影响因素

以中国274个地市为样本,引入空间分析和计量模型等方法,分析外资分布特点及影响因素,结果表明：①中国目前尚不存在大规模外资"逃离"现象,外资利用总量在波动中上升,结构趋于优化。②空间上由集聚集中趋向分散均衡,呈"北进西移"态势,东部高度集中,中西部发展较快。外资高值集聚区逐渐向北推进,低值区向西南收缩;③劳动力成本、市场规模、专业化经济、FDI累积、市场化水平和开放度均对外资有正向作用。其中,传统因素对外资的吸引作用正逐渐下降,FDI累积的作用上升明显,集聚对外资分布作用显著。从不同区域看,集聚经济和FDI累积效应等新经济地理因素在东部外资区位选择中受到更多的关注,而劳动力成本、基础设施、开放水平等传统因素在中西部吸引外资中作用更大。④中国应遵循因地制宜、因时制宜的原则制定差异化的外资政策。     

Trading Spaces: Imagining and Positioning the 'New' South Africa within the Regional and Global Economies

The end of apartheid has precipitated rapid rethinking of South Africa's position in relation to the rest of Africa and the global arena. Whereas a substantial literature already exists on the country's evolving post-apartheid foreign policy, this article offers one of the first critical analyses of its emerging external economic relations. Although clearly the economic giant of the Southern African Development Community, South Africa does not perform as well on all economic and social indicators as many people, especially South Africans, believe. South African businesses' perception of, and experiences in, the rest of Africa are assessed in relation to emerging patterns of trade and investment there. Selected advertisements and associated imagery deployed by firms in support of their strategies are analysed in the context of domestic transformation and the opening of new horizons abroad. South African foreign direct invest-ment (FDI) is increasingly diversified, both sectorally and geographically, although large firms dominate the profile. South African-based transnational corporations are also becoming increasingly influential global players. FDI and development aid inflows to South Africa, and in relation to the rest of Africa, are analysed and their implications explored. Far Eastern investment rose fast as part of a growing global inflow until 1997/8; more recent figures are disappointing. This reflects political and security concerns, as well as vulnerability to rapid flow reversal in the increasingly important portfolio investment market.     

Foreign direct investment and renewal of industries: framing the reciprocity between materiality and discourse

ABSTRACT

Informed by the evolutionary literature on economic geography, this paper develops a conceptual framework for analysing the complexity between foreign direct investment (FDI) and renewal of industries. Present contributions tend to explain the impact of FDI on regional industry evolution as a static, output-oriented phenomenon, that is, informed by an instrumental rationale in which the dynamism of FDI and regional industry development is linked to polarization of stagnation/decline vs. growth/development. Opposing this, we argue for an epistemological shift in approach to the reciprocity between FDI and renewal of industries as dynamism between material outcomes and discursive processes. To accomplish this, we build on key concepts and understandings from evolutionary economic geography; review the regional effects of FDI literature and build a framework sensitive to contextual dimensions of FDI. We focus on multinational companies’ practices and material outcomes in terms of regional spillovers and the discursive processes in terms of FDI narratives. This framework is exemplified by data from the salmon farming industry and the subsea industry in Hordaland and the oil and gas industry and the mining industry in Finnmark.     

Caviar matter(s): The material politics of the European caviar grey market

The last quarter of a century saw the international political community make concerted efforts to regulate global caviar trade and prevent illegal harvesting of critically endangered sturgeon. Ironically, the regulations have enabled the emergence of novel forms of illicit trade which intertwine legal and illegal streams of caviar on the international marketplace. This paper foregrounds these licit-illicit interfaces and argues that the international caviar trade constitutes a ‘grey market’ characterized by a host of laundering practices that entangle legal and illegal caviar flows. Drawing on geographical scholarship on political animals and fleshy geopolitics, the paper theorises how the fleshy material properties of caviar, namely its chemical-isotope profile and composite form, directly shape the European caviar grey market. By highlighting how the materiality of caviar creates grey interfaces between legal and illegal caviar economies, the paper unsettles dominant dichotomized representations of illegal caviar trade which tend to foster overwhelmingly securitized policy-enforcement approaches in Europe. In pointing to the hidden ‘fleshy geopolitics’ surrounding EU enforcement strategies, the paper calls for a reshaping of policy and enforcement which better attends to the grey dimensions of the caviar market and provides increased protection for wild sturgeon populations and marginalised communities located at the Eastern borders of Europe.     

FDI and Local Economic Development: The Case of Taiwanese Investment in Kunshan

The extent to which foreign direct investment (FDI) can foster the long-term economic development of lagging regions remains a highly debated issue in the literature, even in the current era of intense territorial competition for mobile investment and resources. The emergence of new industrial spaces in China that have flourished through FDI offers a good opportunity to revisit the topic. Kunshan in Suzhou, China has evolved from an impoverished area into a world-class information technology (IT) centre within 25 years. FDI, mainly from Taiwan, has enabled Kunshan to gradually upgrade its economy, following a development path that has been largely based on the transplant of entire production chains from Taiwan. Local innovative strategies for attracting and increasing the embeddedness of Taiwanese FDI are also an important element of Kunshan's success. This paper discusses the positive aspects, as well as the potential costs and negative facets, of FDI in Kunshan, with the view to draw some policy lessons regarding the impact of FDI on the economic development of lagging regions.     

The role of foreign direct investment in an old industrial region: The case of the Basque country and Japanese FDI

Foreign direct investment (FDI) has been used as a tool to improve the competitiveness of countries or regions affected by a structural crisis focused in the industrial sector. Spain, in general, has implemented this strategy successfully. However, the inflows of FDI in Spain have been concentrated in the most dynamic regions: Madrid and Catalonia especially. The Basque Country, typified as a declining old industrial region, has not benefited from this inflow owing to its low attraction for foreign investors. Furthermore, the sectors in which FDI is located are mature ones. The result is that FDI in Spain is increasing the gap between the growing and the declining regions. This fact is clearly detected when the case of Japanese FDI is analysed: Japanese FDI in the Basque Country is scarce and marginal when compared with that directed to the regions of Madrid and Catalonia.     

外国直接投资的空间经济特征研究

本文采用相关分析的方法,从宏观经济的角度分析了一定的经济区域吸收和输出FDI的数量与该地区经济发展水平和经济的外向性的关系,同时还对中国大陆吸收外商直接投资的地域联系做了相关分析,提出了FDI空间经济的三个特征,即整体性、外向性、近域性。     

国际直接投资国外研究动态

加入WTO后中国吸引FDI实践中出现了诸如数量大,质量差,地区分布不均,与我国产业结构调整方向不一致等突出问题。国际学者对于发展中国家吸引外资从FDI宏观决定因素、FDI进入东道国市场的模式选择、FDI区位分布等方面有着深入研究。这些研究结果可以作为我们理解我国吸引外资问题的有益借鉴:(1)东道国自身的经济运行状况、政治制度、金融制度、文化、宗教等因素组成的投资软环境已成为制约FDI流入的重要因素,应加强投资软环境的建设,为国内外企业提供有稳定良好预期的投融资环境,提高我国利用外资的质量。(2)FDI区位分布是一个动态过程,也是一个双向多边的互动过程,应正确看待来自其他国家和周边地区的影响,把政策着眼点放在如何提高FDI质量、结构的调整,而不仅仅局限于数量的增加。(3)某一个跨国公司或者同一行业内或不同行业之间的初始投资经验和业绩会对后来进入者具有示范效应。需要适应、引导和规范这种变化的功能。     

辽宁省城市中心性研究与城市发展

以辽宁省地级及以上城市为研究对象,在建立评价指标体系基础上,基于区位商法和主成分分析法,对城市中心性进行了测度和研究。通过对过程数据和结果数据的进一步分析,发现辽宁省当前城市发展在区域经济空间结构、社会经济体制、第三产业、经济外向度等方面存在的问题,并提出了相关的政策建议。     

Market Potential,Productivity and Foreign Direct Investment: Some Evidence from Three Case Studies

This paper aims at analysing the importance of local determinants to foreign direct investment (FDI) in three European regional case studies. The originality of the approach lies in the use of disaggregated data by sector and by region. The results are three-fold. First, regional demand and productivity are fundamental FDI determinants, confirming most studies with national data. Second, regional FDI inflows are more dependent on regional than national determinants. Finally, the effect of market potential measured with absolute gross domestic product (GDP) on regional FDI diminishes linearly with distance and does not when measured with GDP per capita.     

厦门特区利用外商直接投资探析

本文分四个阶段回顾了厦门利用外商直接投资推动特区经济发展的历程 ,从投资主体、投资方式、投资领域和投资规模的角度 ,分析了厦门利用外商直接投资的特点并细致考察了厦门利用外商直接投资发展迅猛的动因 ,阐述了利用外商直接投资对特区经济发展起到的推动作用 ,作者针对厦门特区再利用外商直接投资中仍存在的若干亟待解决的问题 ,提出了积极的建议     

中国社会服务业外商直接投资的空间格局研究

利用省际数据探讨我国社会服务业FDI的空间集聚特征及格局影响机制,以期从新视角分析各地的对外开放程度。研究发现:①我国社会服务业FDI呈地带性分布特征;②社会服务业FDI的空间布局并不完全追随地区的经济发达程度;③我国社会服务业FDI存在不显著的空间正相关,其空间集聚程度低于生产性服务业FDI;④近年来空间正相关省份数量明显增多,东中部沿海及长三角的极化作用加强。⑤经济发展较快的区域逐渐显示出吸引外资进入社会服务业的优势;⑥政策及实施细则、经济发展水平和行业属性,是空间格局的重要影响机制。     

FOREIGN DIRECT INVESTMENT AND URBAN CONCENTRATIONS: UNBUNDLING SPATIAL LAGS*

ABSTRACT Foreign direct investment (FDI) is seen as a way to import technology and catch up with economic leaders. It is therefore important to understand why some countries attract more investments by multinationals than others. We expand the set of common determinants of FDI with urban agglomerations and ask the question whether the accessibility of market potential and the number of potential investment locations, in the shape of urban concentrations, matters, since the importance of urban agglomeration economies for FDI has not been investigated before. We show that countries with several medium‐sized cities attract more foreign investment, especially if they are close to main agglomerations, but too much concentration (primacy) reduces the inflow of FDI. Moreover, we unbundle spatially lagged FDI by including spatial lags of the determinants of FDI. It is important to disentangle such third‐country effects in order to understand how FDI flows depend on the complex ways in which multinationals fragment sales and production across countries. Using a panel of U.S. affiliates’ sales in foreign countries between 1984 and 1998, we find evidence that cities are important drivers of FDI. Furthermore, third‐country effects suggest that horizontal and complex forms of FDI coexist.     

上海对外直接投资的产业与区位选择

本文从三个层面分析了上海对外直接投资的动力机制,指出了上海企业对外投资的必然性。通过对涉足对外投资产业的研究,发现上海对外投资的产业大多已经在国内发育成熟,对外投资产业遵循由低向高逐步演替的规律。企业对投资区位的选择大多是由近及远,集中于东南亚等地。