美国经济学论文 [10]
论文作者:英语论文论文属性:硕士毕业论文 thesis登出时间:2014-08-29编辑:yangcheng点击率:20193
论文字数:5981论文编号:org201408252319303927语种:英语 English地区:日本价格:免费论文
关键词:进口代替时代外国直接投资经济学论文economics essay
摘要:在本文中,我们主要关注了外国直接投资,并且认为,,巴西和印度两国的外国直接投资政策的对比可以追溯到19世纪,那时的各自的殖民地或半殖民地经验的差异。通过我们对巴西和印度的外国直接投资的比较分析,说明了历史和制度认知的重要性,这有助于理解每个社会感知外国投资在他们的社会中所扮演的角色的方式。通过这样的行为,我们得到了一种关于这些国家对外国投资采取不同的态度和政策原因的理解。
rowth was financed by public investment in India and a combination of public and foreign investment in the case of Brazil. In a liberalized economy, however, public spending is constrained: an increase in fiscal deficits leads to inflation which, in turn, causes depreciation of the currency. Faced with the prospect of weakening currencies, foreign investors are less likely to invest. The case of Brazil and India has been no different as public investment declined during this period (Mohan 2008, Afonso, Araujo and Junior 2005).
In such a scenario, foreign investment becomes crucial to finance industrial growth. In reality, not only has the share of FDI in manufacturing declined (in addition to the growing proportion of M&As in total FDI), even the volume of inflows have been relatively small. For instance, in 1995 FDI inflows to Brazil and India were 1.2% and 0.6% of world FDI inflows compared to China’s 11%. By 2005 the shares were 1.5%, 7.3% and 0.8% for Brazil, China and India respectively. These trends, coupled with declining public investments are a big factor behind the lackluster performance of industries during the first decade of reforms [12] . It is no surprise therefore that increases in manufacturing growth rates after 2003 have coincided with increases in public investments in India. Even in Brazil aggressive government spending in crucial sectors like infrastructure have played an important role in stimulating industries. Public investment in infrastructure was the main thrust of the PAC (“growth acceleration program”) program in Brazil (OECD 2011, p. 27).
Industrial productivity in both economies has improved in the last two decades (Bonelli 2002, Ferreira and Rossi 2003, Unel 2003). MNC’s have played an important role in this regard. There are two channels through which, in theory, FDI could contribute towards industrial productivity. First, competitive pressures could force local firms to invest in R&D in order to compete with MNC’s. As a result, firms might take part in innovative activities. FDI could thus provide a stimulus to the economy to modernize many of its leading sectors, and thereby create static efficiency gains (Amman and Baer 2010, Kumar 2005). Second, MNC’s might play an important role in R&D in both countries. For example, TNC’s like Motorola, General Motors in Brazil and Novartis GlaxoSmithKline and Microsoft in India, have set up R&D facilities. In fact, in Brazil, of the total patents granted to residents by the USPTO, 42% were on account of foreign affiliates in 2001-2003. In the same period in India, 40% of patents granted by the USPTO were associated with foreign affiliates (UNCTAD 2005, p. 135).
Despite the increasing importance of foreign investments in the economy, the levels of R&D have been modest. R&D as a percentage of GDP amounted to 1.1% of GDP in Brazil and 0.8% in India, compared to 2.7% in the U.S. The impact of the modest amount of R&D in both country means that dependence on foreign technology by them will continue to be substantial. This can be measured by examining the patent applications of Brazil and India, compared to industrial countries. It will be noted in Table 4 that whereas in 2007 patent applications of China amounted to 153,060 and of the U.S. 241,347, the total amount for Brazil in that year was 4,023 and for India 6296.
CONCLUSION
Our comparative analy
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