美国经济学论文 [9]
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:20192
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。
s to India. It should be noted, however, that one quarter of all FDI inflows into Brazil during 1996-2000 were related to privatizations, which were concentrated in that period.
In terms of sectoral composition there have been major structural shifts for both India and Brazil. During the early 20th century, FDI was mainly in the extractive and natural resource sectors and in public utilities. In the ISI period, both India and Brazil were able to direct foreign investment into manufacturing, especially into technology intensive sectors. The neo-liberal era has seen a re-emergence of FDI flows in services and public utilities [8] . The share of FDI stock in the manufacturing sector has declined steeply. It must be noted that within manufacturing sector, technology intensive sectors like pharmaceuticals, automobiles and electronics have received a big share of FDI, in both countries.
FDI Performance: Productivity and Industrial Growth
The relationship between productivity, growth and FDI is an ambiguous one. While there are numerous instances of countries that have successfully used FDI to develop their industrial base (United States and Australia during the late 19th century), the history of Korea, which minimized reliance on foreign investments, should convince us that FDI is a necessary but not a sufficient condition for successful industrialization (Mardon 1990).
In the ISI period industrial growth of Brazil outpaced that of India. Even in terms of GDP, Brazil grew at a much faster pace (see Table 3 a) and b)). The extent to which differences in the FDI policies explain the divergence in economic performance in the two countries is difficult to quantify. In certain sectors, however, FDI seems to have played a major role.
The case of the automobile sector is one such example where FDI did have an important role [9] . The Indian government, unlike that of Brazil, severely restricted FDI and kept strict control over technology transfer. As a result, the Indian automobile manufacturers ended up producing low end cars, whose principal customer was the government itself. By 1980, Brazilian car production was 20 times that of India’s (Arbix et. al. 1998). The Brazilian strategy had another added advantage. Specifically, competition from MNCs and transfer of technology helped develop an efficient automobile component producing sector. In India, these spillover effects were limited because of restrictions imposed on foreign investments, resulting in less efficient component manufacturers (Arbix et. al. 1998). Even in the electronics goods industry, Brazilian pragmatism benefitted industrial growth [10] .
After the economic reforms of the 1990’s, GDP growth rates in Brazil and India have been increasing steadily (especially after 2003).The service sector has been the biggest contributor to GDP. Until 2003, industrial growth was disappointing. In Brazil manufacturing value added grew at an average of 1.5% during 1990-2003 and 3% from 2003-2010. In India manufacturing value added grew at 5.7 % in the 1990-2003 (which was slower than the 1981-1990 growth rates) [11] and at 9% during 2003-2010. Tables 3 a) and b) show the trends.
What explains the slow growth of the industrial sector in 1990-2003? To a large extent, industrial performance can be explained by the changes in the institutional structure of these economies. Historically, industrial g
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