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Does the worldwide shift of FDI from manufacturing to services accelerate economic growth---a GMM estimation study.

机译:GMM估计研究表明,全球FDI从制造业向服务业的转移是否会加速经济增长。

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摘要

This study is a GMM-estimation of the sectoral FDI effects on growth in host countries. After controlling for the traditional determinants of growth, I examine the manufacturing and service FDI effects on their own sector growth and their spillovers to the other sectors and the overall economy. I break down service sector FDI and inspect separately the growth effects of financial and non-financial service FDI on manufacturing, services, and the aggregate economy. I classify the data by regions, income distribution and relative sector shares (manufacturing-based and services-based economies) and conduct the sectoral analysis in each category. The most important findings are:;Aggregate growth is increased by manufacturing FDI in "Latin America and the Caribbean" (LAC), by financial FDI in "South and East Asia and Pacific" (SEAP), and by both in "Europe and Central Asia" (ECA). While manufacturing FDI is growth-enhancing at all income levels, the effect of financial FDI on growth increases and the effect of non-financial service FDI decreases with the income level. The growth effect of manufacturing FDI decreases with the share of manufacturing in the economies. Financial FDI boosts and non-financial FDI hurts growth in both manufacturing-based and services-based economies.;Manufacturing growth is increased by manufacturing FDI in all regions except for SEAP, where it increases due to financial FDI. The lower the income level, the more likely it is that manufacturing growth increases due to all three---manufacturing, financial and non-financial service FDI. In manufacturing-based economies, manufacturing FDI does not play part in the growth of manufacturing sector. In contrast, in services-based economies both manufacturing FDI and financial FDI boost growth in the manufacturing sector.;Services growth is increased by financial FDI in SEAP, and by manufacturing FDI and non-financial service FDI in LAC. The higher the income level, the higher is the impact of financial FDI and the lower is the effect of both manufacturing and non-financial service FDI. The higher the services share in the economy, the smaller is the spillover from manufacturing FDI and the higher is the effect of financial FDI on service growth.
机译:这项研究是对部门外国直接投资对东道国增长的影响的GMM估计。在控制了传统的增长决定因素之后,我研究了制造业和服务业外国直接投资对其自身部门的增长以及对其他部门和整体经济的溢出效应。我将分解服务部门的外国直接投资,并分别检查金融和非金融服务外国直接投资对制造业,服务业和总体经济的增长影响。我按地区,收入分配和相关部门的份额(制造业和服务业经济)对数据进行分类,并在每个类别中进行部门分析。最重要的发现是:在“拉丁美洲和加勒比”(LAC)中制造业FDI,在“南亚和东亚及太平洋”(SEAP)中金融FDI以及在“欧洲和中部地区”两者的总增长都在增加亚洲”(ECA)。尽管制造业FDI在所有收入水平上都在增长,但金融FDI对增长的影响增加了,而非金融服务FDI的影响随着收入水平的增加而减小。制造业外国直接投资的增长效应随着制造业在经济体中所占的份额而降低。在制造业和服务业经济体中,金融外国直接投资的增长和非金融外国直接投资的增长均受到损害。;除SEAP以外,所有地区的制造业外国直接投资均通过制造业外国直接投资来促进制造业的增长。收入水平越低,制造业,金融和非金融服务业三大外国直接投资的增长就越有可能增加。在以制造业为基础的经济体中,制造业外国直接投资不参与制造业的增长。相比之下,在以服务业为基础的经济体中,制造业FDI和金融FDI都促进了制造业的增长。SEAP中的金融FDI,LAC中的制造业FDI和非金融服务FDI促进了服务业的增长。收入水平越高,金融外国直接投资的影响就越大,而制造业和非金融服务外国直接投资的影响就越小。服务在经济中所占的份额越高,制造业FDI的溢出量就越小,金融FDI对服务增长的影响也就越大。

著录项

  • 作者

    Doytch, Nadejda K.;

  • 作者单位

    City University of New York.;

  • 授予单位 City University of New York.;
  • 学科 Economics General.
  • 学位 Ph.D.
  • 年度 2007
  • 页码 146 p.
  • 总页数 146
  • 原文格式 PDF
  • 正文语种 eng
  • 中图分类 经济学;
  • 关键词

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