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Direct foreign investment and econom...

Tu, Jenn-Hwa.

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Direct foreign investment and economic growth: A case study of Taiwan.

Record Type:	Electronic resources : Monograph/item
Title/Author:	Direct foreign investment and economic growth: A case study of Taiwan./
Author:	Tu, Jenn-Hwa.
Published:	Ann Arbor : ProQuest Dissertations & Theses, : 1991,
Description:	165 p.
Notes:	Source: Dissertations Abstracts International, Volume: 52-11, Section: A.
Contained By:	Dissertations Abstracts International52-11A.
Subject:	Economics. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=9113745

Direct foreign investment and economic growth: A case study of Taiwan.
Tu, Jenn-Hwa.

Direct foreign investment and economic growth: A case study of Taiwan. - Ann Arbor : ProQuest Dissertations & Theses, 1991 - 165 p.

Source: Dissertations Abstracts International, Volume: 52-11, Section: A.

Thesis (Ph.D.)--The Johns Hopkins University, 1991.

This item must not be sold to any third party vendors.

This dissertation aims to study: first, the differences in production and export behavior between foreign and domestic firms in Taiwan; second, the macroeconomic effects, in particular investment, employment and wages, that direct foreign investment (DFI) have exerted on the Taiwanese economy. Foreign firms are found to be larger in scale, to have a higher capital share, to have a higher elasticity of substitution, to be more efficient, to be more sensitive to the relative factor prices, to be more efficient, and to have a lower income elasticity of export demand. Both foreign and domestic firms export more when engaging in more labor-intensive production method, which is consistent with the Heckscher-Ohlin theorem. Furthermore, a simultaneous macroeconomic model is developed. By means of the 3SLS regression method, DFI is found to have a strong complementary effect on domestic private investment. An extended sectoral model is also tested, which suggests that this complementary effect was larger for the non-manufacturing sector. The macroeconomic model is further extended to contain the labor market in order to estimate DFI's employment and wage rate effects. Capital-deepening and foreign capital withdrawals have been given due consideration. DFI is found to have contributed significantly to both employment and wage rates. Its effects on wage rate, relatively speaking, have not been any less significant than those on employment. Also, the indirect employment effects are more significant than the direct employment. The major contributions of this study are as follows. (1) It offers a simple and workable demand-side approach to study the employment and wage rate effects of DFI on the host economy, thus extends the existing research methods in this field. (2) It gives explicit considerations to the problems of capital-deepening and foreign capital withdrawals, when measuring DFI's employment effects. (3) It shows that ignoring DFI's wage rate effects results in underestimating DFI's contributions since these effects, relatively speaking, could be larger than its employment effects.Subjects--Topical Terms:

517137
Economics.
Subjects--Index Terms:

China

Direct foreign investment and economic growth: A case study of Taiwan.
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100 1 $a Tu, Jenn-Hwa. $3 3548136
245 1 0 $a Direct foreign investment and economic growth: A case study of Taiwan.
260 1 $a Ann Arbor : $b ProQuest Dissertations & Theses, $c 1991
300 $a 165 p.
500 $a Source: Dissertations Abstracts International, Volume: 52-11, Section: A.
500 $a Publisher info.: Dissertation/Thesis.
502 $a Thesis (Ph.D.)--The Johns Hopkins University, 1991.
506 $a This item must not be sold to any third party vendors.
506 $a This item must not be added to any third party search indexes.
520 $a This dissertation aims to study: first, the differences in production and export behavior between foreign and domestic firms in Taiwan; second, the macroeconomic effects, in particular investment, employment and wages, that direct foreign investment (DFI) have exerted on the Taiwanese economy. Foreign firms are found to be larger in scale, to have a higher capital share, to have a higher elasticity of substitution, to be more efficient, to be more sensitive to the relative factor prices, to be more efficient, and to have a lower income elasticity of export demand. Both foreign and domestic firms export more when engaging in more labor-intensive production method, which is consistent with the Heckscher-Ohlin theorem. Furthermore, a simultaneous macroeconomic model is developed. By means of the 3SLS regression method, DFI is found to have a strong complementary effect on domestic private investment. An extended sectoral model is also tested, which suggests that this complementary effect was larger for the non-manufacturing sector. The macroeconomic model is further extended to contain the labor market in order to estimate DFI's employment and wage rate effects. Capital-deepening and foreign capital withdrawals have been given due consideration. DFI is found to have contributed significantly to both employment and wage rates. Its effects on wage rate, relatively speaking, have not been any less significant than those on employment. Also, the indirect employment effects are more significant than the direct employment. The major contributions of this study are as follows. (1) It offers a simple and workable demand-side approach to study the employment and wage rate effects of DFI on the host economy, thus extends the existing research methods in this field. (2) It gives explicit considerations to the problems of capital-deepening and foreign capital withdrawals, when measuring DFI's employment effects. (3) It shows that ignoring DFI's wage rate effects results in underestimating DFI's contributions since these effects, relatively speaking, could be larger than its employment effects.
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650 4 $a Economics. $3 517137
650 4 $a Labor economics. $3 642730
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653 $a foreign investment
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773 0 $t Dissertations Abstracts International $g 52-11A.
790 $a 0098
791 $a Ph.D.
792 $a 1991
793 $a English
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=9113745