国际经济与贸易课件.ppt

McGraw-Hill/Irwin 2004 The McGraw-Hill Companies,Inc.,All Rights Reserved.CHAPTER 14Multinationals and Migration:International Factor Movements McGraw-Hill/Irwin 2004 The McGraw-Hill Companies,Inc.,All Rights Reserved.Foreign Direct Investment(FDI)Flow definition:Flowoffundingprovidedbyinvestors(usuallyfirms)toestablishoracquireforeigncompaniesortoexpandorfinanceexistingforeigncompaniesthattheinvestorsown.Keyissufficientownershiptocontrolorinfluencethemanagementoftheforeigncompany.Stock definition:Totalvalueofexistingfunding(equityanddebt)offoreigncompaniesthathasbeenprovidedbyinvestorsthatowntheseforeigncompanies.2McGraw-Hill/Irwin 2004 The McGraw-Hill Companies,Inc.,All Rights Reserved.Multinational Enterprise(MNE)Afirmthatownsandcontrolsoperationsinmorethanonecountry.TheparentfirmoftheMNEislocatedinthehomecountry.ThehomecountryisthesourcecountryforoutwardFDI.TheMNEhasoneormoreaffiliateslocatedinoneormorehostcountries.ThehostcountryisthedestinationcountryforinwardFDI.3McGraw-Hill/Irwin 2004 The McGraw-Hill Companies,Inc.,All Rights Reserved.Figure14.1StocksofForeignDirectInvestments4McGraw-Hill/Irwin 2004 The McGraw-Hill Companies,Inc.,All Rights Reserved.Why Do MNEs Exist?Inherentdisadvantagesofoperatingaforeignaffiliatecompetingagainstlocalfirms.Firm-specificadvantagesoftheMNE,especiallyintangibleassets.Internalizationadvantagesinusingtheseassets.5McGraw-Hill/Irwin 2004 The McGraw-Hill Companies,Inc.,All Rights Reserved.Why Do MNEs Exist?Locationfactorsbasedonresourcecostsandavailability,customerdemand,governmentpolicies,andotherconsiderations.OligopolisticrivalrythatusesFDIinthefirmsstrategiesforcompeting.6McGraw-Hill/Irwin 2004 The McGraw-Hill Companies,Inc.,All Rights Reserved.Figure14.4LaborMarketEffectsofMigration7