被投資國之身分對 OECD 國家之外人直接投資區位選擇的影響－針對區域經濟整合、新興國家以及經濟成長之研究

Abstract

In this paper, we investigate how host countries’ characteristics, including RIA (regional integration agreements) and EMCs (emerging markets countries), affect location choices of OECD’s FDI. In the meantime, we examine whether FDI is helpful to economic growth in host countries. In most empirical studies in this field, researchers use data from developed countries, like OECD, little focus is on Asian countries. For this reason, it remains unknown whether the results of those papers could be applied to the FDI-RIA relationship of Asian countries. In order to fill this gap, the first essay of this paper uses data from Asian countries, including ASEAN members and others, to see whether joining ASEAN would affect source countries’ willingness to invest in Asian host countries. Empirical findings indicate that among our sample countries, joining ASEAN helps attract more FDI. This result is consistent with the findings of most studies in this field. The second essay of this paper uses data from OECD and Asian countries, including EMCs and others, to see whether being EMCs would affect source countries’ willingness to invest in host countries. Empirical findings indicate that being EMCs helps attract more FDI. This result responds to the World Bank (2003) report which indicates that FDI flows to EMCs increased rapidly. The third essay of this paper use data from Asian countries to see whether FDI could contribute to economic growth in Asian host counrtries. The empirical findings indicate that there is no significant relationship between host countries’ FDI and real GDP growth.