| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5954 |
| DP5954 Entry of Foreign Banks and their Impact on Host Countries | |
| Monika Schnitzer; Maria Lehner | |
| 发表日期 | 2006-11-19 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | This paper reviews the theory of foreign direct investment (FDI), focusing on an apparent conflict between theory and recent trends in the globalized world. The bulk of FDI is horizontal rather than vertical, but horizontal FDI is discouraged when trade costs fall. This seems to conflict with the experience of the 1990s, when trade liberalisation and technological change led to dramatic reductions in trade costs yet FDI grew much faster than trade. Two possible resolutions to this paradox are explored. First, horizontal FDI in trading blocs is encouraged by intra-bloc trade liberalisation, because foreign firms establish plants in one country as export platforms to serve the bloc as a whole. Second, cross-border mergers, which are quantitatively more important than greenfield FDI, are encouraged rather than discouraged by falling trade costs. |
| 主题 | International Trade and Regional Economics |
| 关键词 | Cross-border mergers and acquisitions Export platform fdi Foreign direct investment International trade policy Trade liberalisation |
| URL | https://cepr.org/publications/dp5954 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/534784 |
| 推荐引用方式 GB/T 7714 | Monika Schnitzer,Maria Lehner. DP5954 Entry of Foreign Banks and their Impact on Host Countries. 2006. |
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