Does Foreign Aid Increase Foreign Direct Investment?

被引：110

作者：

Selaya, Pablo ^{[1
,2
]}

Sunesen, Eva Rytter ^{[3
]}

机构：

[1] Univ Copenhagen, DK-1168 Copenhagen, Denmark

[2] Copenhagen Business Sch, Copenhagen, Denmark

[3] Copenhagen Econ AS, Copenhagen, Denmark

来源：

WORLD DEVELOPMENT | 2012年 / 40卷 / 11期

关键词：

development aid; foreign direct investment (FDI); foreign capital for development; aid effectiveness; PANEL-DATA; GROWTH; MODELS;

D O I：

10.1016/j.worlddev.2012.06.001

中图分类号：

F0 [经济学]; F1 [世界各国经济概况、经济史、经济地理]; C [社会科学总论];

学科分类号：

0201 ; 020105 ; 03 ; 0303 ;

摘要：

We examine the idea that aid and foreign direct investment (FDI) are complementary sources of foreign capital. We argue that the relationship between aid and FDI is theoretically ambiguous: aid raises the marginal productivity of capital when used to finance complementary inputs (like public infrastructure and human capital investments), but aid may crowd out private investments when it comes in the shape of pure physical capital transfers. Empirically, we find that aid invested in complementary inputs draws in FDI, while aid invested in physical capital crowds it out. The paper shows that the composition of aid matters for its overall level of efficiency. (C) 2012 Elsevier Ltd. All rights reserved.

引用

页码：2155 / 2176

页数：22

共 34 条

[1] Theory, General Equilibrium, and Political Economy in Development Economics [J].