Foreign Capital And Economic Growth PDF Download
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Author | : Mr.Eduardo Borensztein |
Publisher | : International Monetary Fund |
Total Pages | : 26 |
Release | : 1994-09-01 |
Genre | : Business & Economics |
ISBN | : 1451853270 |
Download How Does Foreign Direct Investment Affect Economic Growth Book in PDF, ePub and Kindle
We test the effect of foreign direct investment (FDI) on economic growth in a cross-country regression framework, utilizing data on FDI flows from industrial countries to 69 developing countries over the last two decades. Our results suggest that FDI is an important vehicle for the transfer of technology, contributing relatively more to growth than domestic investment. However, the higher productivity of FDI holds only when the host country has a minimum threshold stock of human capital. In addition, FDI has the effect of increasing total investment in the economy more than one for one, which suggests the predominance of complementarity effects with domestic firms.
Author | : Stefano Manzocchi |
Publisher | : Springer |
Total Pages | : 213 |
Release | : 2016-01-06 |
Genre | : Business & Economics |
ISBN | : 1349276200 |
Download Foreign Capital In Developing Economies Book in PDF, ePub and Kindle
The object of this volume is to evaluate the pattern and the function of foreign capital in developing countries in a long-run perspective. The main conceptual instruments employed are the theory of economic growth, and the techniques associated with recent advances in growth econometrics. This empirical work points out that there is no mechanical trade-off between the short-term dangers and the long-run gains from capital market integration, but the growth benefits of foreign capital in transforming economies are conditional on an effective destination of the resources. Over-borrowing and excessive consumption are the main pitfalls in the short- as in the long-run. Nevertheless, foreign capital can be conducive to faster growth and possibly higher welfare.
Author | : Ronald I. McKinnon |
Publisher | : Brookings Institution Press |
Total Pages | : 204 |
Release | : 2010-12-01 |
Genre | : Business & Economics |
ISBN | : 9780815718499 |
Download Money and Capital in Economic Development Book in PDF, ePub and Kindle
This books presents a theory of economic development very different from the "stages of growth" hypothesis or strategies emphasizing foreign aid, trade, or regional association. Leaving these aside, the author breaks new ground by focusing on the use of domestic capital markets to stimulate economic performance. He suggests a "bootstrap" approach in which successful development would depend largely on policy choices made by national authorities in the developing countries themselves. Central to his theory is the freeing of domestic financial markets to allow interest rates to reflect the true scarcity of capital in a developing economy. His analysis leads to a critique of prevailing monetary theory and to a new view of the relation between money and physical capital—a view with policy implications for governments striving to overcome the vicious circle of inflation and stagnation. Examining the performance of South Korea, Taiwan, Brazil, and other countries, the author suggests that their success or failure has depended primarily on steps taken in the monetary sector. He concludes that monetary reform should take precedence over other development measures, such as tariff and tax reform or the encouragement of foreign capital investment. In addition to challenging much of the conventional wisdom of development, the author's revision of accepted monetary theory may be relevant for mature economies that face monetary problems.
Author | : Eswar S. Prasad |
Publisher | : |
Total Pages | : 76 |
Release | : 2007 |
Genre | : Capital movements |
ISBN | : |
Download Foreign Capital and Economic Growth Book in PDF, ePub and Kindle
We document the recent phenomenon of "uphill" flows of capital from nonindustrial to industrial countries and analyze whether this pattern of capital flows has hurt growth in nonindustrial economies that export capital. Surprisingly, we find that there is a positive correlation between current account balances and growth among nonindustrial countries, implying that a reduced reliance on foreign capital is associated with higher growth. This result is weaker when we use panel data rather than cross-sectional averages over long periods of time, but in no case do we find any evidence that an increase in foreign capital inflows directly boosts growth. What explains these results, which are contrary to the predictions of conventional theoretical models? We provide some evidence that even successful developing countries have limited absorptive capacity for foreign resources, either because their financial markets are underdeveloped, or because their economies are prone to overvaluation caused by rapid capital inflows.
Author | : Takatoshi Ito |
Publisher | : University of Chicago Press |
Total Pages | : 396 |
Release | : 2007-12-01 |
Genre | : Business & Economics |
ISBN | : 0226387046 |
Download The Role of Foreign Direct Investment in East Asian Economic Development Book in PDF, ePub and Kindle
The international flow of long-term private capital has increased dramatically in the 1990s. In fact, many policymakers now consider private foreign capital to be an essential resource for the acceleration of economic growth. This volume focuses attention on the microeconomic determinants and effects of foreign direct investment (FDI) in the East Asian region, allowing researchers to explore the overall structure of FDI, to offer case studies of individual countries, and to consider their insights, both general and particular, within the context of current economic theory.
Author | : K. L. Gupta |
Publisher | : Springer Science & Business Media |
Total Pages | : 183 |
Release | : 2012-12-06 |
Genre | : Business & Economics |
ISBN | : 9400978855 |
Download Foreign Capital, Savings and Growth Book in PDF, ePub and Kindle
The growing disparity between the developed and the developing countries has once again rekindled the debate about the relative merits of foreign investment as means whereby the developed countries can help the devel oping countries in both achieving a reasonable rate of growth and also from preventing the widening gap between the North and the South from widening even further. This renewed interest in the debate was most sharply highlighted at the recently concluded North-South economic summit conference at Cancun, Mexico. There, the United States took the position that massive increases in foreign aid were neither practical nor the best means of ensuring continuing and satisfactory growth in the developing countries. Rather the solution was to be found in depending on a free market economy and on inflows of private foreign investment. Behind these views, of course lie the more fundamental questions: for example, what should be the role of multinational corporations in the developing countries since they constitute the main source of foreign private investment? Should there be greater cooperation between the public sectors of the North and the South? What is the best means of bridging the economic gap between the North and the South: through direct transfers of wealth from the North to the South or through raising South's growth rates via the transfer of technology and the inflow of investment by multinationals? These questions are of fundamental importance and have wide ranging implications, not only for the economic
Author | : Eswar S. Prasad |
Publisher | : |
Total Pages | : 64 |
Release | : 2010 |
Genre | : |
ISBN | : |
Download Foreign Capital and Economic Growth Book in PDF, ePub and Kindle
We document the recent phenomenon of quot;uphillquot; flows of capital from nonindustrial to industrial countries and analyze whether this pattern of capital flows has hurt growth in nonindustrial economies that export capital. Surprisingly, we find that there is a positive correlation between current account balances and growth among nonindustrial countries, implying that a reduced reliance on foreign capital is associated with higher growth. This result is weaker when we use panel data rather than cross-sectional averages over long periods of time, but in no case do we find any evidence that an increase in foreign capital inflows directly boosts growth. What explains these results, which are contrary to the predictions of conventional theoretical models? We provide some evidence that even successful developing countries have limited absorptive capacity for foreign resources, either because their financial markets are underdeveloped, or because their economies are prone to overvaluation caused by rapid capital inflows.
Author | : E. Graham |
Publisher | : Springer |
Total Pages | : 248 |
Release | : 2005-04-28 |
Genre | : Political Science |
ISBN | : 0230522955 |
Download Multinationals and Foreign Investment in Economic Development Book in PDF, ePub and Kindle
During the past twenty or so years, foreign direct investment (FDI) flows have increased at rates approaching the astounding, especially so during the 1990s. While much of the increase was due to unprecedented cross-border mergers and acquisitions among high-income countries, the amount of FDI flowing to developing nations also grew substantially. This volume examines the economics of this FDI to developing countries. Some chapters are theoretical in nature, others empirical, and still others are largely policy-oriented. Topics covered include whether FDI makes an autonomous contribution to growth in these nations and whether or not 'spillovers' are generated by this investments. Also covered are effects of policy intervention by governments on FDI flows and whether non-economic factors (e.g. cultural factors) might figure as determinants of location of FDI.
Author | : Xiaoming Zhang |
Publisher | : World Bank Publications |
Total Pages | : 44 |
Release | : 1995 |
Genre | : Crecimiento economico |
ISBN | : |
Download Foreign Technology Imports and Economic Growth in Developing Countries Book in PDF, ePub and Kindle
Author | : Kanwal Kumar |
Publisher | : |
Total Pages | : 398 |
Release | : 1966 |
Genre | : India |
ISBN | : |
Download Inflows of Foreign Capital and Economic Growth of Developing Countries Book in PDF, ePub and Kindle