文档介绍：Chapter 12 international resource movements and multinational corporations (国际资源流动与跨国公司)
Main points of this chapter:
motives for international capital flows
(国际资本流动的动机)
welfare effects of international capital flows
(国际资本流动的福利影响)
multinational corporations
(跨国公司)
motives for and welfare effects of international labor
migration (国际劳工迁徙的原因及其福利效应)
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Types of international capital flows
international capital flow
国际资本流动
pure currency assets flow
单纯货币资产流动
Foreign direct investments (FDI)
国外直接投资
international debit and credit
国际借贷
international portfolio investments
国际证券投资
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12. 3 motives for international capital flows
motives for international portfolio investments
earn higher returns
risk diversification
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motives for foreign direct investments
earn higher returns
risk diversification
horizontal integration
vertical integration
avoid tariffs and other restrictions
take advantage of government subsidies
share the profits of a foreign market
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horizontal integration
The production abroad of a differentiated product that is also produced at home.
在国外生产一种与国内产品同类的有差异的产品。
vertical integration
The expansion of a firm backward to supply its own raw materials and intermediate products and/or forward to provide its own sales or works.
公司为控制原料和中间品的供应而向后与其生产厂商合并,及(或)为控制销售网络而向前与销售商合并。
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国外直接投资(FDI)
国外公司在本国创立新企业
国外公司并购本国的企业
外国公司和本国企业共同建立合资企业
FDI指国外公司对本国进行实物资产投资,包括对本国企业的并购、在本国建立合资或独资企业,进行厂房和设备投资,购买房地产等。FDI不包括证券投资,FDI的主要形式是:
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E
M
资本BA从A国转移到B国,使两国利率均为BE,这使得世界的总产出增加EGM,其中A国得到EGR,B国得到ERM。B国的总产出增加ABEM,其中外国投资者获得ABER,余下ERM作为B国国内的净所得。
VMPKA
G
R
r
r
C
H
N
T
VMPKB
A国
B国
B
A
OA
OB
F
国际资本转移的产出和福利效应
effects on the investing and host countries 对资本输入国与输出国的作用
J
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affect the balance of payments of the investing
and host countries.
affect the revenue of both countries.
affect the investing nation’s technological lead
and host country’s control over its economy.
other effects on the investing and h