Download or read book Regional Integration Foreign Direct Investment and Income Convergence written by Nadine A. Morris and published by . This book was released on 2008 with total page 180 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Regional Integration Agreements written by Anthony J. Venables and published by . This book was released on 2016 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: Developing countries may be better served by north-south than by south-south free trade agreements. Free trade agreements between low-income countries tend to lead to divergence in member country incomes, while agreements between high-income countries tend to lead to convergence.Venables examines how benefits - and costs - of a free trade area are divided among member countries.Outcomes depend on the member countries' comparative advantage, relative to one another and to the rest of the world.Venables finds that free trade agreements between low-income countries tend to lead to divergence in member country incomes, while agreements between high-income countries tend to lead to convergence.Changes induced by comparative advantage may be amplified by the effects of agglomeration.The results suggest that developing countries may be better served by north-south than by south-south free trade agreements, because north-south agreements increase their prospects for convergence with high-income members of the free trade area.In north-south free trade agreements, additional forces are likely to operate. The agreement may be used, for example, as a commitment mechanism to lock in economic reforms (as happened in Mexico with the North American Free Trade Agreement and in Eastern European countries with the European Union). A free trade agreement may also - through its effect on trade and through foreign direct investment - promote technology transfer to lower-income members.This paper - a product of Trade, Development Research Group - is part of a larger effort in the group to study the effects of regional integration. The author may be contacted at [email protected].
Download or read book Regional Integration and Foreign Direct Investment written by Centre for Economic Policy Research (Great Britain) and published by World Bank Publications. This book was released on 1997 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Regional Integration Agreements written by Anthony Venables and published by . This book was released on 1999 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Developing countries may be better served by "north-south" than by "south-south" free trade agreements. Free trade agreements between low-income countries tend to lead to divergence in member country incomes, while agreements between high-income countries tend to lead to convergence"--Cover.
Download or read book Multinational Enterprises Foreign Direct Investment and Growth in Africa written by Bernard Michael Gilroy and published by Springer Science & Business Media. This book was released on 2004-10-20 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: How can Africa, the world’s most lagging region, benefit from globalisation and achieve sustained economic growth? Africa needs greater investment by Multinational Enterprises (MNEs) to improve competitiveness and generate more growth through positive spill-over effects. Despite the fact that Africa’s returns on investment averaged 29% since 1990, Africa has gained merely 1% of global Foreign Direct Investment (FDI) flows. The challenge for African countries is how to be a more desirable destination for FDI. The study integrates three currents of economic research, namely from the literature on (endogenous) economic growth, convergence and regional integration, the explanations for Africa’s poor growth and the growing understanding of the role of MNEs in a global economy. The empirical side of the book is based on an econometric study of the determinants of FDI in Africa as well as a detailed firm-level survey conducted in 2000.
Download or read book The Impact of Foreign Direct Investment on Regional Economic Growth and Income Convergence written by Di Zhu and published by . This book was released on 2021 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book European Integration and Income Convergence written by Carmela Martín and published by . This book was released on 2001 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: The prospect of enlarging the European Union (EU) to Central and Eastern European countries with income levels far below those of present members, questions how, and when the candidates' aspiration to converge towards EU standards of living, could possibly by fulfilled. To address these questions, this paper seeks to assess of the convergence experience of the four less developed EU members, i.e., Spain, Portugal, Ireland, and Greece, after joining the EU, and, to explore what lessons can be learned from that experience. The discussion suggests that, while theoretically possible, there is little empirical reason to fear that European integration would cause economies to diverge. Rather than being spontaneous, however, real convergence would seem to depend crucially, on the capacity of countries to tap international technological spillovers, particularly through foreign direct investment. Macroeconomic stability, effective competition on goods, and factor markets, and, a good human capital endowment are essential to harness benefits. Nonetheless, lingering worries about the possibility that integration would lead to real divergence between countries, or regions of Europe, has led to the creation of large transfers under the EU's Regional Policy. Pending more conclusive evidence of their effectiveness, the candidate countries would seem wise to put greater store by those domestic policies, than by EU grants to fuel their convergence.
Download or read book Globalisation Migration and Development written by OECD and published by OECD Publishing. This book was released on 2000-02-02 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: This conference proceedings highlights the contrasts which characterise the demographic and economic situations in Central and Eastern Europe, in the Mediterranean Basin, in North America and in Asia.
Download or read book International Finance and Income Convergence written by Abdul Abiad and published by International Monetary Fund. This book was released on 2007-03 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent studies conclude that the ongoing global financial integration may have had little or no value in advancing economic growth, especially in poor countries. Capital is often found to flow "uphill" from poor to rich countries. And, when it does flow into the less developed economies, it is negatively correlated with growth, calling into question the desirability of foreign capital. In this paper we report that Europe-including the new member states of the European Union-provides a counterexample to these global anomalies. With increasing financial integration, capital in Europe has traveled "downhill" from rich to poor countries, and has done so with gathering strength. These inflows have been associated with significant acceleration of income convergence.
Download or read book Regionalisation Growth and Economic Integration written by George M. Korres and published by Springer Science & Business Media. This book was released on 2007-08-19 with total page 314 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book analyses the process of regionalisation and plots its future development. Regionalisation is a common feature of the changing territorial organisation of European states today. Regionalisation alone, however, cannot produce any of the benefits attributed to it without looking into the conditions in which it occurs. Bringing together theory and empirical applications, coverage examines a host of these conditions.
Download or read book Economic Convergence in Greater China written by Chun Kwok Lei and published by Routledge. This book was released on 2008-12-08 with total page 407 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although China's economy has grown very rapidly in recent decades, there are still very large differences between the economy of mainland China and the economies of Hong Kong, Macau and Taiwan. For example, per capita income in Hong Kong is many, many times higher than per capita income in mainland China. This book considers the degree to which economic convergence between mainland China, Hong Kong, Macau and Taiwan has occurred, and the prospects for increased convergence in the future. It considers economic integration between China and its two Special Administrative Regions (SARS), emphasising the large volume of capital flows and exports, especially from Hong Kong into China, and showing that the economies are highly integrated, despites their differences. It examines income convergence, and changes in productivity, using the same measures for both China and the two SARS, unlike most existing studies. It explores how economic reforms have been crucial to increasing convergence so far, and will continue to be in the future, and concludes by discussing the implications for policy of encouraging increased convergence.
Download or read book Foreign Direct Investment and Economic Development written by and published by OECD Publishing. This book was released on 1998-01-01 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines the link between FDI and development in six dynamic non-Member economies: Argentina, Brazil, Chile, Indonesia, Malaysia and the Philippines. These countries have all adopted different policies towards FDI in the past, but to a great extent they are all converging on a more open approach. This greater openness, and the overall economic reforms of which FDI liberalisation is but one part, will provide a more fertile environment in which to reap the potential benefits from FDI. FDI can play a key role in improving the capacity of the host country to respond to the opportunities offered by global economic integration, a goal increasingly recognised as one of the key aims of any development strategy. In an environment made more competitive by a decade of economic reforms, many restrictions to FDI in these host countries are at best ineffective and at worst counter-productive.
Download or read book Regional Integration and Foreign Direct Investment written by Magnus Blomstrom and published by . This book was released on 2016 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: How regional investment agreements affect the flows of foreign direct investment depends on location, the competitiveness of local firms, the motives for investment, and how the agreement affects the policy environment.Blomstrouml;m and Kokko discuss how regional investment agreements may affect the inward and outward flows of foreign direct investments in the integrating region. After describing the multidimensional character of the issue, they provide a conceptual framework for analysis as well as three case studies focused on different kinds of regional integration:North-North integration (Canada joining the CUSFTA).North-South integration (Mexico`s accession to the NAFTA).South-South integration (MERCOSUR).They conclude that the response to an integration agreement will, in each case, depend on the environmental change brought about by the regional investment agreements, the locational advantage of the country or region, the competitiveness of local firms in the integrating region, and the motives for foreign direct investment in and by the country or region in question.The creation of the Canada-U.S. Free Trade Agreement (CUSFTA), for example, had relatively little influence on direct investment patterns in Canada, since much of the trade between Canada and the United States had been liberalized long before the CUSFTA was established. By contrast, the Mexican accession to the NAFTA brought about significant policy changes, which help to explain foreign multinationals' increasing interest in the country. Similarly, the establishment of the MERCOSUR Common Market is likely to significantly affect the region's policy environment, which suggests that it may have a notable (although varying) impact on foreign direct investment in the four member countries.This paper - a product of the International Trade Division, International Economics Department - is part of a larger effort in the department to study regionalism and development.
Download or read book Regional Integration and Foreign Direct Investment A Conceptual Framework and Three Cases written by Magnus Blomström and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: April 1997 How regional investment agreements affect the flows of foreign direct investment depends on location, the competitiveness of local firms, the motives for investment, and how the agreement affects the policy environment. Blomström and Kokko discuss how regional investment agreements may affect the inward and outward flows of foreign direct investments in the integrating region. After describing the multidimensional character of the issue, they provide a conceptual framework for analysis as well as three case studies focused on different kinds of regional integration: * North-North integration (Canada joining the CUSFTA). * North-South integration (Mexico's accession to the NAFTA). * South-South integration (MERCOSUR). They conclude that the response to an integration agreement will, in each case, depend on the environmental change brought about by the regional investment agreements, the locational advantage of the country or region, the competitiveness of local firms in the integrating region, and the motives for foreign direct investment in and by the country or region in question. The creation of the Canada-U.S. Free Trade Agreement (CUSFTA), for example, had relatively little influence on direct investment patterns in Canada, since much of the trade between Canada and the United States had been liberalized long before the CUSFTA was established. By contrast, the Mexican accession to the NAFTA brought about significant policy changes, which help to explain foreign multinationals' increasing interest in the country. Similarly, the establishment of the MERCOSUR Common Market is likely to significantly affect the region's policy environment, which suggests that it may have a notable (although varying) impact on foreign direct investment in the four member countries. This paper - a product of the International Trade Division, International Economics Department - is part of a larger effort in the department to study regionalism and development.
Download or read book Economic Integration and FDI written by Paul Brenton and published by . This book was released on 1998 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Wealth through Integration written by Elias T. Ayuk and published by Springer. This book was released on 2013-10-22 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: Could regional integration be a first step toward joining the global market? In a context where liberalizing trade has not produced the expected gains in developing countries and growth in global trade has not led to the expected economic growth, an alternative solution has emerged. This new paradigm suggests that trade liberalization should be accompanied by public investment. However, by its very nature, trade liberalization leads to a reduction in revenues from duties and taxes, which means that the available resources for public investments will also be reduced. There are now solid arguments for encouraging the less-developed countries to first emphasize regional integration before trying to access the global market. This book explores the issues linked to regional integration in West Africa and presents empirical data about the experiences in = West African Economic and Monetary Union (WAEMU) countries to converge their economies. It also examines how these efforts, which make a major contribution to regional integration, influence poverty reduction in the economic and monetary community. It will be of interest to researchers working in this area. Elias T. Ayuk is Director of the United Nations University Institute for Natural Resources in Africa in Accra, Ghana, and was formerly a senior program specialist at the International Development Research Centre. Samuel T. Kaboré is a researcher/lecturer at the Faculty of Economics and Management at the University of Ouagadougou II, Burkina Faso. Canada’s International Development Research Centre (IDRC) supports research in developing countries to promote growth and development. IDRC also encourages sharing this knowledge with policymakers, other researchers, and communities around the world. The result is innovative, lasting local solutions that aim to bring choice and change to those who need it most. Elias T. Ayuk is Director of the United Nations University Institute for Natural Resources in Africa in Accra, Ghana, and was formerly a senior program specialist at the International Development Research Centre. Samuel T. Kaboré is a researcher/lecturer at the Faculty of Economics and Management at the University of Ouagadougou II, Burkina Faso. Canada’s International Development Research Centre (IDRC) supports research in developing countries to promote growth and development. IDRC also encourages sharing this knowledge with policymakers, other researchers, and communities around the world. The result is innovative, lasting local solutions that aim to bring choice and change to those who need it most.
Download or read book Globalization and Economic Convergence written by Robert Rowthorn and published by . This book was released on 1998 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper offers a critical survey of a strong globalization thesis that predicts a direct link from more open trade and investment regimes to faster economic growth in developing countries and income convergence across the global economy. Its examination of recent experience suggests that while in a more open and integrated world economy both the quantity and the quality of investment are influenced by external factors the forces driving capital accumulation retain strong domestic roots and remain open to the influence of various types of policy initiative.
