NBER Working Paper Series
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Опубликовано на портале: 22-12-2003
Robert E. Lipsey
NBER Working Paper Series.
1999.
No. 7292.
Since 1977, and in some cases starting before that, most East Asian countries’
export patterns in manufacturing have been transformed from industry distributions
typical of developing countries to distributions more like those of advanced countries.
The process of change in most cases started with inward FDI to produce for export
in the new industries, particularly by U.S. firms in electronics and computer-related
machinery. The U.S. firms were followed, in electronics, by Japanese multinationals.
Over time, in most cases, the U.S.-owned affiliates turned more to sales in host-country
market and their share in host country exports declined, although the host countries’
specializations in the new industries continued. U.S. and Japanese firms played somewhat
different roles. U.S. firms’ investments were always distributed more along
the lines of U.S. export comparative advantage, far from the previous patterns of
the host countries. The industry distribution of Japanese investments initially followed
more the lines of the host countries’ comparative advantage and Japanese affiliates
were less export-oriented than U.S. affiliates. However, Japanese affiliates have
become more like U.S. affiliates in both export orientation and industry composition.
Their early concentration in textiles and apparel faded and they are more heavily
concentrated than U.S. affiliates and more export-oriented in both electrical machinery
and transport equipment.
Опубликовано на портале: 22-12-2003
Linda Goldberg, Michael W. Klein
NBER Working Paper Series.
1999.
w7196.
Foreign Direct Investment (FDI) has been growing rapidly, at a pace far exceeding
the growth in international trade. Thus, a full understanding of the relationship
between trade in goods and FDI is important for obtaining a complete picture of the
extent and sources of international linkages. Autors investigate whether FDI serves as
a complement to trade or a substitute for trade based on the effects identified by
the Rybczynski theorem whereby an increase in a factor of production used intensively
in one sector affects production both in that sector and in other sectors. Using
detailed data on bilateral capital and trade flows between the United States and
individual Latin American countries, autors examine the linkages between FDI into particular
sectors of Latin American economies and the net exports of those and other manufacturing
sectors. Autors find that FDI from the United States can lead to significant, and varied,
shifts in the composition of activity in many Latin American countries and across
many manufacturing industries.
Опубликовано на портале: 23-12-2003
James R. Markusen, Keith E. Maskus
NBER Working Paper Series.
1999.
w7163.
An important component of Robert Lipsey's work has been his research on multinational
firms, and his careful documentation of their behavior in terms of production and
intra-firm trade. In this paper, authors extend recent theory referred to as the knowledge-capital
model, which simultaneously generates motives for both horizontal and vertical multinational
production. Autors use this model to derive predictions about foreign affiliates'
pattern
of production for local markets versus production for exports as functions of country
characteristics such as market sizes, size differences, and relative endowment differences.
These predictions are then taken to data on affiliate production and trade. Results
confirm several hypotheses. The ratio of production for export sales to production
for local sale by affiliates of foreign multinationals depends negatively on market
size, investment and trade costs in the host country, and positively on the relative
skilled-labor abundance of the parent country (skilled-labor scarcity of the host
country).
Tax Competition and Trade Protection [статья]
Опубликовано на портале: 23-12-2003
Eckhard Janeba, John D. Wilson
NBER Working Paper Series.
1999.
w7402.
This paper reconsiders the question of whether tax competition for mobile capital
leads to tax rates on capital that are too low or too high from the combined viewpoint
of the competing regions (or countries in an economic union). In contrast to standard
models of tax competition, both commodity trade and capital mobility is allowed to
occur between the competing regions and the rest of the world. A key result of the
analysis is that whether the capital taxes are too low or high depends on the degree
of external trade protection. When the country's central government is free to set
the tariff, tax competition leads to inefficiently low tax rates. But in the absence
of a tariff, tax rates can be too high. In particular, regions may choose to subsidize
capital in equilibrium as a means of inducing favorable terms-of-trade effects, but
the subsidy (i.e., a negative tax) will then be too low because an increase in a
single region's subsidy benefits other regions by reducing their relative quantities
of subsidized capital. These results are discussed in the context of the European
Union's Single Market, where non-EU firms have responded to the 'Fortress of Europe'
by increasing foreign direct investment.
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