外商直接投资和东盟国家的工业化【外文原文】.pdf

Foreign Direct Investment
and Industrialization in ASEAN Countries
By
Ulrich Hiemenz
Contents: I. Introduction. - II. The Pattern of FDI by Home Country. - III. FDI
and Industrial Development. - IV. The Trade Orientation of FDI. - V. Conclusions.
I. Introduction
lthough foreign investment (FDI) was not a very ponent
of total gross domestic capital formation in any of the ASEAN countries
A except Singapore [Hill, Johns, 1985, pp. 360-361], there is little dissent
among professional economists that - in one way or another - FDI has
indeed promoted industrial development in ASEAN as well as other Asian
countries. The discussion rather focuses on the extent of benefits derived
from FDI and on the question whether FDI from one home country, in
particular Japan, has been better attuned to the development needs of host
countries than FDI from other home countries [., Kojima, 1978; 1985;
Sekiguchi, Krause, 1980; Lee, 1983; 1984]. Both issues are addressed in the
subsequent analysis of German, Japanese, and . investment in ASEAN
countries. The study supplements work recently done by Ariff, Hill [1985],
Hill, Johns [1985], and Hill [1985].
The subsequent section provides a brief overview of the sectoral distribu-
tion of FDI across ASEAN countries and across manufacturing industries. In
Section III, the pattern of FDI from different home countries pared to a
number of industry characteristics in the host countries. Although large gaps
in data availability severely restrict the implementation of rigorous statistical
tools, an attempt is made to assess the relative importance of several
explanatory variables such as factor absorption, effective protection, and
export orientation for investment behaviour of transnational corporations
(TNCs) from different countries. This behaviour determines in turn the
foreign firms' contribution to the direction and speed of industrialization and
to the expansion and div