Abstract
Criss-Crossing Globalization: Uphill Flows of Skill-Intensive Goods and Foreign Direct Investment
Highlights
The phenomenon of uphill flows of capital has been subject to great scrutiny in recent years (Bernanke 2006, Caballero et al 2008, and Prasad et al 2007, among others)
Flows of foreign direct investment (FDI) to Organization for Economic Cooperation and Development (OECD) countries from developing countries like Brazil, India, Malaysia, and South Africa as a share of their GDP are as large as flows from countries like Japan, Korea, and the United States
It calculates the share of non-OECD countries in FDI exports to OECD countries, and as such is a measure of uphill flows at the global level
Summary
The phenomenon of uphill flows of capital (from poorer to richer countries) has been subject to great scrutiny in recent years (Bernanke 2006, Caballero et al 2008, and Prasad et al 2007, among others). Flows of FDI to OECD countries from developing countries like Brazil, India, Malaysia, and South Africa as a share of their GDP are as large as flows from countries like Japan, Korea, and the United States Taken together, these figures provide evidence of the “precociousness” of some developing countries in exporting skills in a manner associated with countries at much higher levels of development. Foreign Direct Investment In figure 3A, we plot the share of non-OECD countries in world FDI exports for the period 2003–07 for which data are available. It calculates the share of non-OECD countries in FDI exports to OECD countries, and as such is a measure of uphill flows at the global level. This share has been steadily rising from about 9 percent in 2003 to close to 15 percent in 2007, suggesting that uphill FDI flows have been rising
Sign-in/Register to view highlights & summary Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
