Is China's FDI coming at the expense of other countries?

被引:55
作者
Eichengreen, Barry [1 ]
Tong, Hui [1 ]
机构
[1] Univ Calif Berkeley, Berkeley, CA 94720 USA
关键词
foreign direct investment; China;
D O I
10.1016/j.jjie.2006.07.001
中图分类号
F [经济];
学科分类号
02 ;
摘要
We analyze how China's emergence as a destination for foreign direct investment is affecting the ability of other countries to attract FDI, using an approach that accounts for the endogeneity of China's FDI. Results suggest that China's rapid growth and attractions as a destination for FDI also encourages FDI flows to other Asian countries, as if producers in these economies belong to a common supply chain. There is also evidence of FDI diversion from OECD recipients. We interpret this in terms of FDI motivated by the desire to produce close to the market where the final sale takes place. Firms more inclined to invest in China for this reason are correspondingly less inclined to invest in the OECD. A detailed analysis of Japanese foreign direct investment outflows disaggregated by sector further supports these conclusions.
引用
收藏
页码:153 / 172
页数:20
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