Download e-book for iPad: Foreign Investment, Development, and Globalization: Can by E. Paus

By E. Paus

ISBN-10: 1403969833

ISBN-13: 9781403969835

ISBN-10: 1403978816

ISBN-13: 9781403978813

This ebook engages the query, hotly debated between theorists and policymakers alike, of the way a constructing country's pursuit of international direct funding (FDI) impacts its improvement customers in a globalized global. Can small latecomers to financial improvement use high-tech FDI to speedily extend indigenous functions, hence shortcutting phases of the industrialization procedure? What stipulations, financial and non-economic, has to be met for this technique to be successful? utilizing the instances of eire and Costa Rica, the writer indicates how the dynamics of the FDI-development nexus have replaced through the years, rendering frustrating Costa Rica's try out, and people of different latecomers, to copy the Celtic Tiger's luck tale.

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Extra info for Foreign Investment, Development, and Globalization: Can Costa Rica Become Ireland?

Sample text

Low tax rates play a particularly important role in industries with high profit margins like the pharmaceutical industry. 1. Our discussion has brought to the fore a number of important insights. First of all, it has become clear that path dependency is critical. The requisite infrastructure and technical skills of the labor force needed to attract high-tech FDI are the outcome of past development policies. 1 High-Tech FDI in SLCs: Critical Contingencies. 22 FOREIGN INVESTMENT, DEVELOPMENT, AND GLOBALIZATION means that governments in the past must have invested in raising educational outcomes and building roads and telecommunications.

Nonetheless, several scholars have attempted to approximate the phenomenon empirically. Classifying goods by enduse category Feenstra (1998) estimated that trade in parts and components accounts for around 30 percent of trade in manufacturing. 16 In China, that share rose from 25 percent in 1988 to 41 percent in 1994 (Naughton 1996 cited in Hummels, Ishii, and Yi 2001, 87). As TNCs internalize parts of the value chain across national borders, trade among TNC affiliates constitutes a significant part of global trade.

However, along with HIGH-TECH FDI-LED GROWTH IN SMALL LATECOMERS 25 the rise in exports comes a rise in imports, as the requisite inputs for high-tech products may be too technologically sophisticated to be available domestically, or if they are available, the domestic supply base may be too limited. And profit repatriation is another possible drain on foreign exchange. The net impact of these four flows on the balance of payments is not obvious a priori and needs to be analyzed in a country-specific context.

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Foreign Investment, Development, and Globalization: Can Costa Rica Become Ireland? by E. Paus

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