摘要:本文是跨国企业业务与外商直接投资的相关留学生论文,外商直接投资不仅带来了资金,还引进和转让了先进的技术,可以加快东道国的技术进步。外国直接投资还可以增加东道国的竞争,并帮助其实现一个更高效的资源配置。
explain why the impact of FDI on domestic productivity is very different from country to country, from region to region, and from industry to industry. Moreover, there is a limitation of quantitative studies of the effects of FDI on the productivity at the industry level, especially in Egypt. Thus, the chapter fills in this gap.
Table 4.3 Coefficient of Spillover Variable in different regions
Region
Coefficient of Spillover Variable
Significantly (+ve)
Significantly (-ve)
Insignificant/ Mixed
Author
No
Author
No
Author
No
Developed countries
Caves (1974), Globerman (1979), Flores et al. (2000), Liu et al. (2000), Hubert and Pain (2001), Haskel et al. (2002),Wang and Gu (2006), Driffield and James (2007)
8
Girma et al. (2001)
1
Developing countries
Blomstrom and Persson (1983), Blomstrom (1986), Blomstrom and Wolff (1994), Kokko (1994,1996), Kokko, Tansini and Zejan (1996), Liu (2002), Le (2005)
8
Haddad and Harrison (1993), Aitken, Hanson and Harrison (1997), Kathuria (2000)
3
Scoors and Tol (2001), Sadik and Bolbol (2001), Javorick (2004)
3
Transition countries
Djankov and Hoekman (1998), Konings (2001)
2
Kinoshita (2000)
1
All Region
15
5
5
4.4. Data and Econometric Approach
4.4.1 Model Specification
The econometric approach followed in this paper uses annual observations on a cross-section of 9 sub sectors of the Egyptian manufacturing sector over the period 1975 to 2005. To investigate whether inward FDI generates productivity spillovers for domestic industries, we utilize a Cobb-Douglas production function specified as:
(1)
Where
In (1), subscripts i, and t, denote industry, and time. α, β, γ, and δ are parameters to be estimated. Output of industries is denoted Y, their inputs denoted Input, foreign presence in the industry FDI, Z are other control regressors, and εit is the usual equation error term, and it is assumed that there may be individual and time effects, where are the random errors, assumed to be iid (0, ).
We identify three potentially important determinants of productivity within the Egyptian manufacturing sector. The choice of these explanatory variables was dictated by sub sectoral characteristics which may influence the variation and growth of productivity over the period of study, and the availability of data. The justification for the factors is as follows:
Foreign Direct Investment is viewed as being a key channel for the transfer of advanced technology and superior organizational forms from industrialised to developing countries. Furthermore, FDI is believed to generate positive externalities in the form of knowledge spillovers to the domestic economy through, for instance, linkages with local suppliers and clients (backward and forward linkages), learning from nearby foreign firms and employee training programmes. However, negative externalities are also possible as barriers to accessing technology and com
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