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on Transition Economics |
| By: | B. MERLEVEDE; K. SCHOORS |
| Abstract: | In a partial adjustment framework the observed FDI stock is the result of two driving forces. First, the stock converges towards its equilibrium level, even without policy changes. Second, the equilibrium level itself is driven by changes in its determinants. By means of a dynamic panel data analysis we examine the determinants of investment by ‘old’ EU-members in ten countries of Central and Eastern Europe. We find a rapid adjustment towards equilibrium. Traditional variables, such as market potential, trade integration, and relative unit labour costs, are fairly stable as determinants of equilibrium FDI stocks in transition economies. Institutional development in all its forms is a robust determinant of the optimal level of FDI. The relationship between FDI and the privatization process is complex. Non-direct privatization schemes negatively affect the speed of adjustment towards the equilibrium, whereas current direct privatization strategies positively affect the equilibrium level of FDI. Privatization history increases equilibrium FDI, independently of the method applied. |
| Keywords: | foreign direct investment, privatisation, partial adjustment |
| JEL: | F20 F23 P33 |
| Date: | 2005–06 |
| URL: | http://d.repec.org/n?u=RePEc:rug:rugwps:05/309&r=tra |
| By: | Kiyoshi Urakami (Urakami Asia Management Research) |
| Abstract: | Asian business has undergone substantial changes with the emergence of China. This paper aims at describing general trends in China business strategies being sought and followed by the Japanese multinationals in the electronics industry based on the authorfs practical business experiences with Hitachi, Ltd. in the region. One of the objectives of the paper is to document the authorfs experiential viewpoints and approaches. |
| Keywords: | Regional headquarters, Greater China region, Market place, Full ownership business |
| JEL: | F1 F2 |
| Date: | 2005–06–12 |
| URL: | http://d.repec.org/n?u=RePEc:wpa:wuwpit:0506004&r=tra |
| By: | Junyi Shen (Osaka School of International Public Policy, Osaka University); Yoshizo Hashimoto (Osaka School of International Public Policy, Osaka University) |
| Abstract: | The Environmental Kuznets Curve (EKC) hypothesis proposes that there is an inverse-U-shape relationship between environmental degradation and per capita income. This evidence has been manifested to be existed in most air pollutants and several water pollutants by estimating on cross-country data. Different from most earlier empirical studies, this paper uses the cross-province panel data of seven pollutants from China to investigate whether the EKC hypothesis may even exist on a country level. The estimated results find out that the EKC hypothesis exists in five of these pollutants, while the other two show a N-shape relationship between pollutant emission and per capita income. Moreover, this paper suggests some problems of this regression as being remained for future study. |
| Keywords: | Environmental Kuznets Curve (EKC), pollution emission, economic growth, GDP per capita |
| Date: | 2004–05 |
| URL: | http://d.repec.org/n?u=RePEc:osk:wpaper:0409&r=tra |