This paper applies the dynamic panel model to investigate whether China is crowding- out FDI from other Asian economies. In addition to an analysis of aggregate FDI like prior studies, an investigation is carried out for FDI from three major investors in the region: Japan, the United States and...

This paper investigates the link between patterns of trade and modes of foreign direct investment (FDI) by utilizing exports, imports, and inward FDI data for China over the period 1998 to 2007. We construct a modified gravity equation to find the main modes of inward FDI into China with...

Over the past century, the institution of capital and the process of its accumulation have been fundamentally transformed. By contrast, the theories that explain this institution and process have remained largely unchanged. The purpose of this paper is to address this mismatch. Using a broad...

This study deals with the outward FDI (OFDI) behaviours of the emerging multinationals from India and China. In the backdrop of changing public policies and economic performance of the home country, it traces the evolution of OFDI by these emerging multinationals over a long period, from early...

Over the past decades great changes have taken place in the economic environment worldwide regarding the foreign direct investment (F.D.I.). However, some of the developing countries have managed to gain more F.D.I. compared to other developing countries via skills acquisition, competition,...

In his Inquiry into the Nature and Causes of the Wealth of Nations Adam Smith (1776) considered the phenomenon of division of labor so enormously significant for the creation of a nation’s wealth that he devoted the first three chapters of his book to an investigation of this process. This is...

There is a belief that the Chinese economy competes with the Latin-American ones for investment flows. Here we analyze the determinants of the US FDI outflows to the most representative Latin-American economies. We develop such assessment with a double-procedure cointegration analysis based on...

Agency-based explanations of the great deprivation, contrasted with structure-based explanations, suffer not merely from the criticism of relying on irrational and irresponsible behavior of millions, including that of the most astute financial experts, but are also at a loss to explain why such...

Strategies for trade liberalization when the rates of time preference are heterogeneous across countries are examined in the framework of endogenous growth. The paper argues that the best strategy for a country with the relatively higher rate of time preference is the strategy of free trade with...

Adam Smith (1776) devoted the first three chapters to the division of labor in his Inquiry into the Nature and Causes of the Wealth of Nations. This process, carried far enough, eventually results in a divergence between the distributions of supplies and demands of such...