Download Exports, Foreign Direct Investment and Economic Development by Xiaolan Fu PDF

By Xiaolan Fu

This quantity, in response to a chain research utilizing updated econometric strategy, systematically investigates the function that exports and overseas direct funding (FDI) have performed in China's improvement strategy, and questions the bought knowledge that exports and FDI are regularly an unalloyed blessing. It makes a speciality of the transmission mechanisms wherein exports and FDI impression development and monetary improvement and investigates the effect of exports and FDIs on employment, improvement financing and productiveness progress, among different matters, in China.

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Extra resources for Exports, Foreign Direct Investment and Economic Development in China

Sample text

For most developing countries, exports are a vital and often the sole source of foreign exchange. Exports provide a source of finance for imports and enable the country to import advanced production equipment and scarce resources. Fluctuations in export earnings may destabilize the growth process. Empirical evidence from time series and country modelling clearly suggests that fluctuations in commodity export prices or earnings would have important effects on both the export and nonexport sectors of the economy.

Here exports are looked upon as a dynamic force that raises the skill and dexterity of the labour force, and permits economies of scale (Mill, 1848; Myint, 1958; Kindleberger, 1962; Bhagwati, 1978; Krueger, 1978). Second, trade could be a conduit for the international transmission of know-how (Grossman and Helpman, 1991; Edwards, 1992). Marketing contacts with other nations may provide ideas for product differentiation, for instance. Third, the pressures of strong international competition may force firms to cut costs and eliminate managerial and organizational inefficiencies (Clerides, Laul and Tybout, 1998; Egan and Mody, 1992; Grossman and Helpman, 1991; Baldwin and Caves, 1997).

They conclude that the evidence points to a J-curve-type response and this finding is robust to changes in specification, sample size and data period. Fourth, the widely used cross-country aggregate data sets may have little information regarding the relationship between trade policy and growth (Edwards, 1993). In a review of the theoretical and empirical studies on trade policy and development linkages, Srinivasan and Bhagwati (1999) argue that the cross-country regression methodology should be rejected ‘for reasons of [its] weak theoretical foundation, poor quality of [its] data base and [its] inappropriate econometric methodologies’.

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