Behavioral and empirical perspectives on FDI: International capital allocation across Asia
We investigate Asia's recent experience in international capital allocation through flows of foreign direct investment. A calibrated general equilibrium model with a new capital flow modelling component is applied to highlight underlying relationships between a Heckscher-Ohlin (labor and capital) endowment perspective and such considerations as human capital, productivity, endogenous growth, and institutional behavior. Our results support the argument that all these factors played a role in Asia's recent growth, to different degrees in different countries, with complex relationships to investment incentives. In addition, new directions for further research in the FDI-growth linkages policy area are identified.
Year of publication: |
2008
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Authors: | Brooks, Douglas H. ; Roland-Holst, David ; Zhai, Fan |
Published in: |
Journal of Asian Economics. - Elsevier, ISSN 1049-0078. - Vol. 19.2008, 1, p. 40-52
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Publisher: |
Elsevier |
Saved in:
Online Resource
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