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论文作者:英语论文论文属性:作业 Assignment登出时间:2014-11-12编辑:yangcheng点击率:17906
论文字数:4813论文编号:org201411102351185803语种:英语 English地区:加拿大价格:免费论文
摘要:本文是一篇国际贸易的经典理论,本章的目的是回顾外国直接投资的现有机构知识,并通过战略研究吸引外国直接投资。它试图展示有助于理解和外国直接投资的根本动机的相关理论,假设和思想流派的总结。
Stage I New product for domestic market only
Stage II If product is successful, there is overseas demand so that exportation will be possible
Stage III Exports decline because overseas firms produce the goods due to innovation-imitation theory
Stage IV Because of comparative advantage, the second country export the product to the first country, that is, the latter will start importing the goods which only a few years back was exporting it.
Vernon (1966) explained that FDI will occur when the product enters its mature stage in the product life cycle hypothesis. Vernon (1979) re-examined his own theory and came to the conclusion that the cycle has shortened considerably whereby multinational companies are now more geographically diffused.
Market Imperfections Theories
The suggestion that FDI is a product of market imperfection was first discussed by Hymer (1976). He also confirms that investment abroad involves high costs and risks inherent to the drawbacks faced by multinationals because they are foreign. The model was later extended by Caves (1971) and Buckley and Casson (1976) into the internationalisation theory. Hymer shifted the theory of FDI out of the neoclassical international trade theories and into industrial organization (the study of market imperfections). He also argued that there are two factors motivating FDI, namely: (i) the attempt to reduce and/or remove international competition among firms; and (ii) the desire of Multinational Corporations (MNCs) to increase their returns from the utilization of their special advantages.
Foreign firms face disadvantages compared to domestic firms, mainly due to the extra costs of doing business in an alien territory and given the information on cost disadvantages, a foreign firm will engage in FDI activity only if it enjoys offsetting advantages such as superior/newer technology, better products or simply firm-level economies of scale.
Buckley and Casson (1976) talked about the internalization theory of foreign direct investment. An important pre-requisite for internalisation whether being executed vertically or horizontally, is the existence of an imperfect market. They stated that there are two ways in which a firm can ‘internalise’ namely by replacing a contractual relationship with unified ownership and secondly by internalising an advantage such as production本论文由英语论文网提供整理,提供论文代写,英语论文代写,代写论文,代写英语论文,代写留学生论文,代写英文论文,留学生论文代写相关核心关键词搜索。