The practice of foreign direct investment in developing countries and Implications for China
|School||The Central Party School|
|Keywords||Developing country Foreign direct investment ODI The post - crisis era|
Since the 1980s, driven by economic globalization, developing countries gradually integrate into the globalization process, while expanding to attract foreign capital, foreign direct investment (FDI Foreign Direct Investment). The scale of the stock of FDI in developing countries accounted for the proportion of the world's total increased by 7% in 1990 to 11% in 2000, and against the trend after the global financial crisis, 15%, and developing countries gradually become an important FDI source countries ①. As the world's largest developing country, China in recent years, rapid economic growth in the total economy has been ranked second in the world. Satisfied through the introduction of foreign capital to participate in the global division of labor, the passive acceptance of the developed countries and their multinationals global strategic layout in the current international situation, China is difficult to take a favorable position in the global division of labor. To expand the scale of foreign direct investment, the implementation of \However, as emerging countries in transition, the lack of Chinese overseas investment not only experience, but also to coordinate and promote the system is not formed, risk prevention lacks capacity, new challenges are emerging. Thus, the study of the practice of overseas investment in developing countries and its enlightenment to China's, has important theoretical and practical significance. This article generally divided into two parts, the first part to sort out the basis of domestic and foreign research analyzes the motives and effects of FDI in the developing world; through phased study of FDI in developing countries, come to developing countries the FDI evolution of the development path; Next, the Government of the Republic of Korea, Singapore, Brazil, Russia and other countries of FDI promoting policies and measures for international comparisons. The second part of the analysis of the current situation and existing problems of Chinese enterprises overseas direct investment, combined with the new situation of the financial crisis put forward policy recommendations to promote Chinese enterprises overseas direct investment. The conclusions of this paper are mainly the following aspects: First, developing countries usually out to seek overseas markets, factors of production (including labor, natural resources, energy, capital, and technology management), risk diversification, the country of origin effect, and ethnic ties etc. motivation foreign direct investment. Second, foreign direct investment in developing countries to promote their economic growth, optimizing the conditions of international trade, promoting their own technological progress has two sides, but the effects of the international balance of payments and employment. The evolution path of the development of foreign direct investment in developing countries to follow the Hecksher-Ohlin industry FDI → different the Smithian industry FDI → difference Smithian industries FDI → Schumpeterian industry FDI, import substitution re-export oriented strategy, adjustment and upgrading of industrial structure for technical management play a catalytic role in each evolution. Fourth, because of the similarity of the situation, South Korea, Singapore, Brazil, Russia and other developing countries to promote FDI policies and measures China has important implications. Internally, the advantages of foreign direct investment in China is mainly the stronger part of the enterprise, and abundant foreign exchange reserves, the renminbi in the appreciation of the range, as well as government encouragement; disadvantages of enterprise management level is not high, the government policy is imperfect. From the outside, after entering the era of the financial crisis in major developed countries FDI contraction of FDI reduce the cost countries have enacted economic stimulus plan, the global rise of trade protectionism are providing opportunities for foreign direct investment in China. However, the world economic situation is unknown, and the financial system is not yet stable also pose a threat to foreign direct investment to China.