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China and India’s Development Strategies: Lessons for Developing CountriesAmelia U. Santos-Paulino and Guanghua Wan China and India have become global economic powers. Even at the market exchange rate, China overtook Japan...
Amelia U. Santos-Paulino and Guanghua Wan China and India have become global economic powers. Even at the market exchange rate, China overtook Japan...
Part of Book External Finance for Private Sector Development
As one of globalisation's most visible dimensions, foreign direct investment (FDI) is central to the prospects for developing countries in the world economy. Key issues include the direction of causation between FDI and growth, the potential role of...
There has been considerable media coverage of China’s trade and financial activities, on India’s emergence as a technology and innovation hub, and on the commerce and investment interactions between China, India, Brazil, and South Africa and other...
This report summarizes information from the 2012 round of the Vietnam Technology and Competitiveness Survey (TCS), collaboratively developed by the Central Institute for Economic Management (CIEM), the General Statistics Office (GSO), and the...
One feature of exporting firms in Cambodia is that they are not of domestic origin but are foreign firms that export from the moment they are established in Cambodia. In this paper we examine the extent to which the presence of foreign-owned export...
By Imed Drine Whilst having a global impact, the current financial and economic crisis is clearly affecting certain regions more severely than others...
This report summarizes information from the 2012 round of the Vietnam Technology and Competitiveness Survey (TCS), collaboratively developed by the Central Institute for Economic Management (CIEM), the General Statistics Office (GSO), and the...
African countries have sought to replicate the success of East Asia by implementing special economic zones. Despite decades of international experience, there remains no blueprint for successful special economic zone policies, and the majority of...
Vietnam has been among the most successful East Asian economies, especially in weathering the external shocks of recent globalization crises. Examination of economic performance and policy responses shows rising dependence on foreign finance around...
This report is based on a survey module incorporated into the 2009 Vietnam Enterprise Survey conducted by the General Statistics Office (GSO) of Vietnam in 2010.1. The survey module was specifically designed by the Development Economics Research...
The emergence of a select group of developing countries as destinations for private portfolio investment in the 1990s (and the subsequent peso crisis in Mexico in 1994) has rekindled the old issues about the responsibilities and capacities public...
It is increasingly appreciated that improved markets for investment in equities can help promote faster economic growth. Such improvement also allows the ordinary saver to share in that growth. The past decade has seen quite extraordinary expansion...
This paper explores the relationship between foreign direct investment (FDI) and the productivity of host country domestic firms. We rely on a specially designed survey of over 4000 manufacturing firms in Vietnam, and separate out productivity gains...
We analyse the Granger causal relationships between foreign direct investment (FDI) and GDP in a sample of 31 developing countries covering 31 years. Using estimators for heterogeneous panel data we find bi-directional causality between the FDI-to...
This paper investigates the simultaneous causal relationship between investments in information and communication technology (ICT) and flows of foreign direct investment (FDI), with reference to its implications on economic growth. For the empirical...
The paper examines the causal relationship between FDI and economic growth by using an innovative econometric methodology to study the direction of causality between the two variables. We apply our methodology, based on the Toda-Yamamoto test for...
Data from several investor surveys suggest that macroeconomic instability, investment restrictions, corruption and political instability have a negative impact on foreign direct investment (FDI) to Africa. However, the relationship between FDI and...
The abundance of private capital flows confronts many emerging-market authorities with a transfer problem. They must decide whether to accept or resist the net capital inflow, or how much to accept and how much to resist. This paper aims at assisting...
The management of international reserves remains one of the understudied aspects of the international monetary system. There are now a number of reasons why this should change. On the supply side of the market there is the advent of the euro...
The partial effect of nominal exchange rate volatility on exports from each EMU member to the rest of the EMU is estimated on annual data for 1967-97, using modern time-series methods. The long-run relations between exchange rate volatility and...
Six Southeast Asian countries (Cambodia, Lao People’s Democratic Republic, Malaysia, Myanmar, the Philippines, and Thailand) defied Gunnar Myrdal’s pessimistic prognosis in his 1968 volume, Asian Drama, regarding their prospects for development. In...
Foreign direct investment (FDI) has been praised as an important development tool, especially for countries at low levels of industrial development...
We analyse the business cycles in China and in selected OECD countries between 1992 and 2006. We show that, although negative correlation dominates for nearly all countries, we can also see large differences for various frequencies of cyclical...
At the start of the last decade, Mozambique’s prospects looked stellar. Following from the early 1990s, when peace finally arrived after a devastating...
The paper investigates the impact of exchange rates on US foreign direct investment (FDI) flows to a sample of 16 emerging market countries using annual panel data for the period 1990-2002. Three separate exchange rate effects are considered: the...
This article is part of UNU’s “17 Days, 17 Goals” series, featuring research and commentary in support of the United Nations Sustainable Development...
The celebration of the 30th Anniversary of UNU-WIDER presented the ideal opportunity to look back, take stock, and plan ahead. Where else can a group...
The aim of this paper is to analyse the effect of institutional reforms on the revival of African economies. We study the impact of positive changes in business environment indicators of the Doing Business project and the Economic Freedom Index of...
The purpose of this paper is to capture the impact of foreign capital inflows (which include foreign aid and foreign direct investment) on economic growth in Cameroon. Using the autoregressive distributive lag approach to cointegration and time...
We examine aid-induced Dutch Disease—after controlling for the effects of remittances and FDI flows—in the context of two North African countries, Morocco and Tunisia. We do so by performing a multivariate time series analysis of aggregated annual...
From the book The Millennium Development Goals: Raising the Resources to Tackle World Poverty by Fantu Cheru, Colin Bradford, Jr.
This paper examines what might be done to limit the boom-bust cycle in the flow of capital to emerging markets. Although the paper accepts that some types of capital flow (notably foreign direct investment) are much less problematic in this respect...
There has been a remarkable shift in the attitudes towards globalization. Specifically, the discussion among academics and policymakers has shifted from whether globalization should be encouraged to how countries can position themselves to benefit...
This book brings together papers written by representatives from UN agencies and academics who take a fresh look at the expanding role of transnational corporations and foreign direct investment in the world economy. These papers deal with such...
This paper provides empirical evidence on the relationship between exports, and in particular export diversity, and regional growth in a developing country context. Using export data for 19 sectors from 354 subnational (magisterial) districts of...
This paper attempts to analyse the economic implications of the rise of China, India, Brazil and South Africa, for developing countries situated in the wider context of the world economy. It examines the possible impact of their rapid growth on...
This article studies the currency risk management of multinational companies with investments in Latin American countries. The analysis is centred on episodes of currency or financial shocks, searching into the behaviour of the financial management...
This paper is an attempt to rectify some of the problems that characterize most earlier studies that seek to explain private capital flows to developing countries or, at least, to examine the subject from a different and complementary perspective. To...
Foreign direct investment (FDI) has increased dramatically in recent years. However, the distribution of FDI is highly unequal and very poor countries face major difficulties in attracting foreign investors. This paper investigates the determinants...
This report summarises information from the 2011 implementation of the Vietnam Technology and Competitiveness Survey, developed collaboratively between the Central Institute for Economic Management (CIEM), the General Statistics Office (GSO) and the...
This report summarises information from the 2011 implementation of the Vietnam Technology and Competitiveness Survey, developed collaboratively between the Central Institute for Economic Management (CIEM), the General Statistics Office (GSO) and the...
This report summarises information from the 2013 Vietnam Technology and Competitiveness Survey (TCS), developed, in collaboration, by the Central Institute for Economic Management (CIEM), the General Statistics Office (GSO) and the Development...
This report summarises information from the Vietnam Technology and Competitiveness Survey (TCS) that has been conducted every year since 2010, concluding with 2014. The TCS has been a collaborative effort of the Central Institute for Economic...
Vietnam has been among the most successful East Asian economies, especially in weathering the external shocks of recent globalization crises—the 1997-98 Asian financial crisis and the 2008-09 great recession, financial crisis and collapse of global...
This paper investigates the simultaneous causal relationship between investments in information and communication technology (ICT) and foreign direct investment (FDI), with reference to its implications on economic growth. For the empirical analysis...
This paper aims to provide theoretical and empirical insights into the puzzling simultaneous rise in foreign direct investment (FDI) inflows in Africa and capital flight from the continent over the past decades. It specifically explores two questions...
The paper revisits the policy debate on institutional reform approaches to property rights protection and empirically examines it in the context of FDI flows to the Middle East and Northern Africa region (MENA). Using panel data on 11 MENA countries...
The aim of this paper is to analyse the effect of institutional reforms on the revival of African economies. We study the impact of positive changes in business environment indicators of the Doing Business project and the Economic Freedom Index of...
This paper first shows that important economic arguments in favor of the Prebisch-Singer hypothesis of falling terms of trade of developing countries have implicitly relied on the role of multinational corporations and foreign direct investment. As...
Remittances, after foreign direct investment, are currently the most important source of external finance to developing countries. Remittances surpass foreign aid, and tend to be more stable than such volatile capital flows as portfolio investment...
International bank lending is a major component of capital flows between advanced and emerging economies. However, in recent years these flows have been going the wrong way, like water flowing uphill. Even four years after the Asian crisis, there is...
This paper has two aims. The first is to provide some explanation for the extraordinary collapse in cross-border bank lending to developing countries which has taken place since 1997. The second is to argue that it might be too simplistic to...
Part of Journal Special Issue Globalization-Poverty Channels and Case Studies from Sub-Saharan Africa
by Stephany Griffith-Jones The appalling attack on September 11th has moved the US administration towards seeking multilateral solutions in the fight...
This paper analyses prospects for foreign direct investment (FDI) in Africa. The problems with regard to attracting FDI in small economies are not that different than those in larger economies in the developing world. In particular, lack of...
China’s economic miracle over the past three decades has been featured with its open-door policy, especially the absorption of foreign capital. One downside effect of economic reform has been the ever rising interregional inequality. As FDI is highly...
In less than a decade after the end of the apartheid, South Africa has intensified its economic ties with its African neighbours to become one of the top-ten investors and trading partners of many African countries, displacing companies from the...
Three features of China’s trade patterns suggest that elements beyond factor abundance explain its export performance. The high penetration in world markets of labour-intensive products has been accompanied by: (i) a high share in exports of...
We use a modified gravity model to estimate the relationship between trade and foreign direct investment (FDI) in the Southern African Development Community (SADC). We find evidence of a significant causal relationship from SADC’s exports to inward...
The study examines the official bilateral donors’ current aid practice for private sector development (PSD). In particular, it reviews the donors’ major instruments and channels for aid delivery and the extent to which official flows have catalytic...
The paper examines the role of the multinational development banks in private sector financing with a particular focus on the International Finance Corporation (IFC). The aim of the paper is to bring to focus, in an analytical manner, the past...
Part of Journal Special Issue Developing Countries in the WTO Regime
Part of Journal Special Issue FDI, Employment, and Growth in China and India
Part of Journal Special Issue FDI, Employment, and Growth in China and India
Part of Journal Special Issue FDI, Employment, and Growth in China and India
Part of Journal Special Issue FDI, Employment, and Growth in China and India
Part of Book Southern Engines of Global Growth
Part of Book Southern Engines of Global Growth
Part of Book Southern Engines of Global Growth
Part of Book Southern Engines of Global Growth
Part of Journal Special Issue FDI to Developing Countries
This paper is part of a project based on a broad data collection of policies in selected countries, with a special focus on the attraction of foreign R&D investments. The purpose of the research is to contribute to effective policy-making, capable of...
This paper examines the implications of the liberalization of capital outflows in China, India, Brazil, and South Africa (CIBS) for other developing countries. It focuses on their prospects of attracting not only foreign direct investment (FDI), but...
This paper uses annual aggregate data for 36 low or middle income countries covering the period 1995-2001 to investigate the effect of FDI on private investment. It also explores if the relationship between FDI and private investment is influenced by...
China has been running a large trade surplus with the rest of the world, particularly with the USA and EU. This has caused considerable diplomatic tensions and tremendous pressure on the Chinese currency. Existing analytical studies, however, mostly...