Boon or bane? Reassessing the productivity of foreign direct investment

被引:78
作者
de Soysa, I
Oneal, JR
机构
[1] Int Peace Res Inst, N-0260 Oslo, Norway
[2] Univ Alabama, Tuscaloosa, AL 35487 USA
关键词
D O I
10.2307/2657375
中图分类号
C91 [社会学];
学科分类号
030301 ; 1204 ;
摘要
We assess the effects of foreign and domestic capital on economic growth using the latest data and better models of economic growth than those previously used. We explicitly consider the role of human capital in the process of economic development. We find no evidence that foreign direct investment harms the economic prospects of developing countries. The flow of foreign capital from 1980 to 1991 spurred growth in gross domestic prc,duct per capita, while the level of foreign stock, or "foreign penetration," had 120 discernible effect. Indeed, new foreign investment was more productive dollar for dollar than was capital from domestic sources. Previous suggestions that foreign investment flows are less beneficial than domestic ones were based on a misinterpretation. Moreover, foreign direct investment stimulates investment from domestic sources. Consequently, developing countries have no reason to eschew foreign capital, as dependency theorists urge.
引用
收藏
页码:766 / 782
页数:17
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