Economic Growth,Foreign Direct Investment and Transition Paths in Post-Communist Countries
The conventional perspective, mainly consisting of theories of modernization and neoclassical economics, argues that Foreign Direct Investment(FDI) is the driving factor for development.In contrast, dependency and world-systems theorists hold a pessimistic position, proposing that the penetration of foreign capital retards growth in the long run.Skeptical about the MNC-centred assumption shared by both theoretical paradigms, I argue thata better way to comprehend the developmental consequences of foreign capital is to recognize the importance of state-MNCs interaction in determining the growth effects of FDI and to understand the institutional environments in which MNCs are situated.By exploiting the riot that FDI was virtually non existent prior to the collapse of Communism and comparing the transitional economies that are comparable in many respects but have varying levels of FDI inflow and economic performance and enter divergent paths to capitalism with different resultant economic systems characterized by varying state characteristics, including the nature of state and state strength, I reveal that FDI is not unequivocally associated with either good or bad economic outcomes.The empirical results show that much of the growth effects of foreign capital-both direct and indirect —will depend on the regime type within which it operates.
PAN Zi
Shanghai University of Finance and Economics
国际会议
The 1st Chinese Conference on Comparative Political Economy (第一届比较政治经济学国际学术会议)
北京
英文
293-335
2013-09-08（万方平台首次上网日期，不代表论文的发表时间）