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FDI Spillovers, Financial Markets, and Economic Development
Laura AlfaroAreendam ChandaSebnem Kalemli-OzcanSelin Sayek
出版International Monetary Fund, 2003-09-01
主題Business & Economics / Exports & ImportsBusiness & Economics / Finance / GeneralBusiness & Economics / Industries / Financial Services
ISBN14518594819781451859485
URLhttp://books.google.com.hk/books?id=Ol8YEAAAQBAJ&hl=&source=gbs_api
EBookSAMPLE
註釋This paper examines the role financial markets play in the relationship between foreign direct investment (FDI) and economic development. We model an economy with a continuum of agents indexed by their level of ability. Agents can either work for the foreign company or undertake entrepreneurial activities, which are subject to a fixed cost. Better financial markets allow agents to take advantage of knowledge spillovers from FDI, magnifying the output effects of FDI. Empirically, we show that well-developed financial markets allow significant gains from FDI, while FDI alone plays an ambiguous role in contributing to development.