sticinvestmentonlywhenthehostcountryhasaminimumthresholdstockofhumancapital.Theresultsarerobusttoanumberofalternativespecifications,whichcontrolforthevariablesusuallyidentifiedasthemaindeterminantsofeconomicgrowthincross-countryregressions.ThissensitivityanalysisalongthelinesofLevineandRenelt()showsarobustrelationshipbetweeneconomicgrowth,FDIandhumancapital.WealsoinvestigatetheeffectofFDIondomestireadvancedtechnology,managementpractices,etc.usedbytheforeignfirms.Wang()incorporatesthisideaintoamodelmoreinlinewiththeneoclassicalgrowthframework,byassumingthattheincreasein‘knowledge’appliedtoproductionisdeterminedasafunctionofforeigndirectinvestment(FDI).ThepurposeofthispaperistoexamineempiricallytheroleofFDIintheprocessoftechnologydiffusionandeconomicgrowthindevelopingcountries.Wemotivatetheempiricalworkbyamodelofendogenousgrowth,inwhichtherateoftechnologicalprogressisthemaindeterminantofthelong-termgrowthrateofincome.Technologicalprogresstakesplacethroughaprocessof‘capitaldeepening’intheformoftheintroductionofnewvarietiesofcapitalgoods.MNCspossessmoreadvanced‘knowledge’,whichallowsthemtointroducenewcapitalgoodsatlowercost.However,theapplicationofthismoreadvancedtechnologiesalsorequiresthepresenceofasufficientlevelofhumancapitalinthehosteconomy.Thestockofhumancapitalinthehostcountry,therefore,limitstheabsorptivecapabilityofadevelopingcountry,asinNelsonandPhelps(),andBenhabibandSpiegel().Hence,themodelhighlightstherolesofboththeintroductionofmoreadvancedtechnologyandtherequirementofabsorptivecapabilityinthehostcountryasdeterminantsofeconomicgrowth,andsuggeststheempiricalinvestigationofthecomplementaritybetweenFDIandhumancapitalintheprocessofproductivitygrowth.WetesttheeffectofFDIoneconomicgrowthinaframeworkofcross-countryregressionsutilizingdataonFDIflowsfromindustrialcountriestodevelopingcountriesoverthelasttwodecades.OurresultssuggestthatFDIisinfactanimportantvehicleforthetransferoftechnology,contributingtogrowthinlargermeasurethandomesticinvestment.Moreover,wefindthatthereisastrongcomplementaryeffectbetweenFDIandhumancapital,thatis,thecontributionofFDItoeconomicgrowthisenhancedbyitsinteractionwiththelevelofhumancapitalinthehostcountry.However,ourempiricalresultsimplythatFDIismoreproductivethandomesticinvestmentonlywhenthehostcountryhasaminimumthresholdstockofhumancapital.Theresultsarerobusttoanumberofalternativespecifications,whichcontrolforthevariablesusuallyidentifiedasthemaindeterminantsofeconomicgrowthincross-countryregressions.ThissensitivityanalysisalongthelinesofLevineandRenelt()showsarobustrelationshipbetweeneconomicgrowth,FDIandhumancapital.WealsoinvestigatetheeffectofFDIondomesti济贡献总增长是通过促进技术进步,而不是资本积累。二、数据有几个外商直接投资数据来源,国际货币基金组织出版物提供两个净外国直接投资和总(分别是国际金融统计和国际收支平衡统计)数据。净FDI是指流入量出去流出量,而毛FDI只是指流入量,那就是外商直接投资进入该国。经合组织出版物(地方金融流动分布在发展中国家)外国直接投资总额相符经合组织成员国起源到发展中经济体。这些替代品之间选择取决于所对应数据集与我们正努力去发掘外国直接投资效果关系更加密切。首先,它似乎更合适使用总数据,因为我们感兴趣是东道国外国直接投资影响,通过转移知识和溢出效应等,此外,我们也不会期望外国直接投资流出涉及类似负增长效应在来源国(知识流失)。其次,在我们框架里,外商直接投资流向是为了消除发达国家到发展中国家技术差距。外商直接投资在国与国之间发生,在很大程度上科技发展水平相似国家对其他要素反应大致相同,包括跨国公司战略和市场占有率,或者允许公司规避贸易抵制,以及其他给予国内生产者一些优惠。这种类型外商直接投资流动不要求高于平均生产率。由于这个原因,我们仅仅关注于从发达国家来外商直接投资。另外,我们不包括发展中国家间外商直接投资流动,因为可能有其他因素导致技术差距。因此,经济合作与发展组织针对外商直接投资措施,虽然有部分重复,但是很明显是最合适我们目。这些数据很适合从年开始每年基础上。国民经济核算数据,如收入增长率,初始收入和政府消费都是从萨姆斯和赫斯顿(.)提供直到年数据。这允许我们考虑一个为期年实证调查。增长率测量方法是每十年国内生产总值平均年增长率:—和—.政府消费测量是基于真实政府消费者真实GDP平均份额来。由于人力资源存量可变性我们使用初始水平下平均年份由本和李()总结。根据本和李()总结,这个措施是教育程度一个最显著相关增长。其他数据解释变量,如:国内投资增长,外汇平行市场升水和政局不稳定措施。同时金融发展也是根据本和李()。三、总结有一个很好先例表明FDI比国内投资更富有成效。格雷厄姆和克鲁曼()认为,国内公司对于国内市场更了解,更加能够进入。如果一个外国公司决定进入这个市场,它必须补偿国内公司所享有优势。当一个外国公司决定投资另一个国家时,它将比它国内竞争者享有更低成本和更高生产效率。就对于特殊发展中国家来说,高效率外商直接投资很可能使先进管理技能和更现代化技术互相结合。是先进技术转移到发展中国家主要途径。不同类型经济变形,无论如何,都有可能危害到外商直接投资作为先进技术转移一种方法作用。举个例子来说,由于贸易保护政策,外商直接投资对于那些出口商来说可能是增加进入国内市场机会唯一方法。同样,政府可能会提供一系列激励政策来刺激外国投资者增加外商直接投资流入,以外汇储备增加以及发展一些从战略上考虑产业政策部门作为目标。这些政策可能导致外商直接投资流通不能高效率而仅仅能获利。这些因素使外商直接投资表现实证评价成为一个吸引人问题。我们通过分析外商直接投资如何从发达国家进入发展中国家来研究这些问题。这篇文章最大发现是外商直接投资对经济增长影响取决于在主体经济中可利用人力资本水平。外商直接投资跟教育程度水平之间有强烈积极互动关系。特别是,同样作用在国内投资是不显著,可能在外商直接投资跟国内投资之间有一种不同自然技术反映。我们也发现了聚集效应一些相关依据,也就是国内投资跟外商直接投资是互补。这个结果,无论如何,跟我们其他发现相比没那么完善。但是在解释外商直接投资对经济增长规模效应时,有一些地方必须注意。我们计算了外商直接投资国际资源流通数据,并且作为保持国际收支平衡记录。然而,只是计算由跨国公司投入资源部分,因为一些投资很可能是由在国内债务或股票所提供。因此,我们对外商直接投资计算低估了由跨国公司和比例估计过高外商直接投资利用系数所组成固定资本总值。在一定程度上,外商直接投资数据会随着不同国家和时间推移而产生偏差,但本质上结果不会受到影响。总来说,本文结论为进一步研究提供了一些方向。研究结果表明来自于高效率外商直接投资比简单高效率资本积累更加有益。这个结果表明在容易接受国家检测外商直接投资增长率全要素生产力增长更加有效。此外,人力资源和外商直接投资给出强有力有效相互作用,将会引起研究外商直接投资对人力资源水平影响兴趣。正如我们在上面所说,外商直接投资是一个接收新技术媒介,说明外商直接投资也有可能影响人力资源积累,要求训练拥有新技术劳动力。readvancedtechnology,managementpactices,etc.usedbytheforeignfirms.Wang()incorporatesthisideaintoamodelmoreinlinewiththeneoclassicalgrowthframework,byassumingthattheincreasein‘knowledge’appliedtoproductionisdeterminedasafunctionofforeigndirectinvestment(FDI).ThepurposeofthispaperistoexamineempiricallytheroleofFDIintheprocessoftechnologydiffusionandeconomicgrowthindevelopingcountries.Wemotivatethee本科毕业论文外文翻译外文题目:Howdoesforeigndirectinvestmentaffecteconomicgrowth出处:JournalofInternationalEconomics()-作者:E.Borensztein,J.DeGregorio,J-W.LeeHowdoesforeigndirectinvestmentaffecteconomicgrowth?AbstractWetesttheeffectofforeigndirectinvestment(FDI)oneconomicgrowthinacross-countryregressionframework,utilizingdataonFDIflowsfromindustrialcountriestodevelopingcountriesoverthelasttwodecades.OurresultssuggestthatFDIisanimportantvehicleforthetransferoftechnology,contributingrelativelymoretogrowththandomesticinvestment.However,thehigherproductivityofFDIholdsonlywhenthehostcountryhasaminimumthresholdstockofhumancapital.Thus,FDIcontributestoeconomicgrowthonlywhenasufficientabsorptivecapabilityoftheadvancedtechnologiesisavailableinthehosteconomy.一、IntroductionTechnologydiffusionplaysacentralroleintheprocessofeconomicdevelopment.Incontrasttothetraditionalgrowthframework,wheretechnologicalchangewasleftasanunexplainedresidual,therecentgrowthliteraturehashighlightedthedependenceofgrowthratesonthestateofdomestictechnologyrelativetothatoftherestoftheworld.Thus,growthratesindevelopingcountriesare,inpart,explainedbya‘catch-up’processintheleveloftechnology.Inatypicalmodeloftechnologydiffusion,therateofeconomicgrowthofabackwardcountrydependsontheextentofadoptionandimplementationofnewtechnologiesthatarealreadyinuseinleadingcountries.Technologydiffusioncantakeplacethroughavarietyofchannelsthatinvolvethetransmissionofideasandnewtechnologies.Importsofhigh-technologyproducts,adoptionofforeigntechnologyandacquisitionofhumancapitalthroughvariousmeansarecertainlyimportantconduitsfortheinternationaldiffusionoftechnology.Besidesthesechannels,foreigndirectinvestmentbymultinationalcorporations(MNCs)isconsideredtobeamajorchannelfortheaccesstoadvancedtechnologiesbydevelopingcountries.MNCsareamongthemosttechnologicallyadvancedfirms,accountingforasubstantialpartoftheworld’sresearchanddevelopment(RandD)investment.Somerecentworkoneconomicgrowthhashighlightedtheroleofforeigndirectinvestmentinthetechnologicalprogressofdevelopingcountries.Findlay()postulatesthatforeigndirectinvestmentincreasestherateoftechnicalprogressinthehostcountrythrougha‘contagion’effectfromthemoreadvancedtechnology,managementpractices,etc.usedbytheforeignfirms.Wang()incorporatesthisideaintoamodelmoreinlinewiththeneoclassicalgrowthframework,byassumingthattheincreasein‘knowledge’appliedtoproductionisdeterminedasafunctionofforeigndirectinvestment(FDI).ThepurposeofthispaperistoexamineempiricallytheroleofFDIintheprocessoftechnologydiffusionandeconomicgrowthindevelopingcountries.Wemotivatetheempiricalworkbyamodelofendogenousgrowth,inwhichtherateoftechnologicalprogressisthemaindeterminantofthelong-termgrowthrateofincome.Technologicalprogresstakesplacethroughaprocessof‘capitaldeepening’intheformoftheintroductionofnewvarietiesofcapitalgoods.MNCspossessmoreadvanced‘knowledge’,whichallowsthemtointroducenewcapitalgoodsatlowercost.However,theapplicationofthismoreadvancedtechnologiesalsorequiresthepresenceofasufficientlevelofhumancapitalinthehosteconomy.Thestockofhumancapitalinthehostcountry,therefore,limitstheabsorptivecapabilityofadevelopingcountry,asinNelsonandPhelps(),andBenhabibandSpiegel().Hence,themodelhighlightstherolesofboththeintroductionofmoreadvancedtechnologyandtherequirementofabsorptivecapabilityinthehostcountryasdeterminantsofeconomicgrowth,andsuggeststheempiricalinvestigationofthecomplementaritybetweenFDIandhumancapitalintheprocessofproductivitygrowth.WetesttheeffectofFDIoneconomicgrowthinaframeworkofcross-countryregressionsutilizingdataonFDIflowsfromindustrialcountriestodevelopingcountriesoverthelasttwodecades.OurresultssuggestthatFDIisinfactanimportantvehicleforthetransferoftechnology,contributingtogrowthinlargermeasurethandomesticinves 本科毕业论文外文翻译外文题目:Howdoesforeigndirectinvestmentaffecteconomicgrowth出处:JournalofInternationalEconomics45(1998)115-135作者:E.Borensztein,J.DeGregorio,J-W.LeeHowdoesforeigndirectinvestmentaffecteconomicgrowth?AbstractWetesttheeffectofforeigndirectinvestment(FDI)oneconomicgrowthinacross-countryregressionframework,utilizingdataonFDIflowsfromindustrialcountrie