China's outward foreign direct investments and impact on the world economy:
Gespeichert in:
| Beteiligte Personen: | , |
|---|---|
| Format: | Buch |
| Sprache: | Englisch |
| Veröffentlicht: |
Basingstoke [u.a.]
Palgrave Macmillan
2014
|
| Schriftenreihe: | The Nottingham China Policy Institute series
|
| Schlagwörter: | |
| Links: | http://www.netread.com/jcusers2/bk1388/091/9781137321091/image/lgcover.9781137321091.jpg http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=027770236&sequence=000004&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| Umfang: | XVIII, 268 S. graph. Darst. |
| ISBN: | 9781137321091 |
Internformat
MARC
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| 650 | 4 | |a Investments, Foreign |z China | |
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Datensatz im Suchindex
| _version_ | 1819321779021152256 |
|---|---|
| adam_text | Contents
List of Figures
ix
List of Tables
xi
Preface
xiii
About the A uthors
xvii
List of Abbreviations
xviii
1
Introduction
1
1
Background
1
2
Motivations and objectives
5
2.1
Locationai determinants of China s OFDI
6
2.2
Dynamic adjustment of China s OFDI and its
relation with China s IFDI
7
2.3
Does China displace the
OECD
countries OFDI
in third-party host countries?
8
3
Contributions and book structure
9
2
Literature on China s OFDI
11
1
Introduction
11
2
FDI theories and empirical examinations
12
2.1
General theories and empirical examinations
12
2.2
Outward foreign direct investment and
development
15
3
Gravity model in FDI studies
16
4
Studies on China s OFDI
18
4.1
A brief history and background of China s OFDI
18
4.2
Descriptive studies on China s OFDI
20
4.3
Empirical studies on China s OFDI
21
5
Conclusion
24
3
China s OFDI and Resource-seeking Strategy:
A Case Study on Chinalco and
Rio-Tinto
25
1
Background
25
2
Consolidation of the world mining industry
and China s OFDI
27
vi
Contents
3
The thorny path of China s national champions to
become global giants
33
4
Theories of OFDI in the Chinese context
37
5
Financial crisis as a catalyst for China s OFDI
45
6
Conclusion
54
4
OFDI and Technology-seeking Strategy: A Case Study
of Geely s Acquisition of Volvo
57
1
Introduction
5 7
2
China s automotive industry development
58
2.1
The closed doors period
(1949-69) 58
2.2
The import substitution period
(19705-63^ 1990s) 59
2.3
The opening up and fast expansion period
(1990s-present)
60
2.4
The emergence of ICAMs
61
2.5
The booming market
61
2.6
Current challenges
62
3
The third road : overseas M&As
63
3.1
Geely-Volvo acquisition
65
3.2
Li Shufu and Geely
66
3.3
Global perspectives of Geely s overseas
purchase
67
3.4
Geely s motivations for acquiring Volvo
68
3.5
Marriage of Geely and Volvo: post-acquisition
challenges
70
4
Inorganic approach to globalisation
73
4.1
Reasons for overseas
M
&As
73
4.2
Outward technology-seeking path: how to be
sustainable?
75
4.3
Urgent needs for technological innovation
76
4.4
Thirst for talent
76
4.5
Safety and reputation
76
4.6
New energy vehicles
77
5
Conclusion
78
5
Location, Resources and Technology of China s OFDI
79
1
Introduction
79
2
Previous research
83
2.1
Studies on the effects of natural resources on OFDI
84
2.2
Studies on the effects of technology on OFDI
88
3
Methodology
90
3.1
Benchmark specifications
90
Contents
vii
3.2
Resources-seeking: the role of governance and
mineral prices
96
3.3
Dual effects of technology on China s OFDI
98
4
Data and summary statistics
99
4.1
Data
99
4.2
Statistics summary
102
5
Resources and discussion
106
5.1
Baseline results
106
5.2
The joint effect of resources and governance
110
5.3
The joint effect of oil/metal abundance and
oil/metal price
112
5.4
The dual effects of technology on China s OFDI
114
6
Robustness check
116
6.1
Heekman
selection model
116
6.2
Tobit censored at an alternative value
120
6.3
Estimations excluding SARs
120
6.4
China s pre-crisis OFDI
121
6.5
Estimations excluding outliers
121
7
Conclusion
121
Dynamic Relationship between China s IFDI and OFDI
124
1
Introduction
124
2
Previous research
127
2.1
Dynamic adjustment of IFDI
127
2.2
Agglomeration effect on FDI
128
2.3
China s IFDI and its relation with OFDI
129
3
Methodology
129
3.1
Partial stock adjustment mode]
129
3.2
The gravity model and augmented gravity
specification
131
3.3
Dynamic panel estimations: GMM
133
4
Data and statistics summary
136
4.1
Data
136
4.2
Statistics summary
138
5
Results and discussion
139
5.1
Baseline results
139
5.2
Do host country s characteristics matter?
146
6
Robustness check
160
6.1
Estimations using different instrument matrices
160
6.2
Estimations excluding SARs
160
6.3
Estimations excluding outliers
161
7
Conclusion
161
viii Contents
7
Does China s OFDI Displace OECD s OFDI?
163
1
Introduction
163
2
Literature review
166
3
Methodology
167
3.1
Gravity model and augmented gravity
specification
167
3.2
Benchmark estimation methods
169
3.3
IV estimation
171
4
Data and statistics summary
175
4.1
Data
175
4.2
Statistics summary
176
5
Results and discussion
176
5.1
Baseline results
176
5.2
Effect of host country characteristics
180
5.3
Effect of home country characteristics
188
5.4
Effect of host-home country pair characteristics
191
5.5
Summary of displacement based on the
TSLS estimation
194
5.6
Alternative IV estimations
196
6
Conclusion
199
8
Policy Implications and Conclusions
201
1
Summary of findings
201
2
Limitations and future research
204
3
Policy implications
205
Appendices
208
Notes
240
Bibliography
248
Index
263
|
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| series2 | The Nottingham China Policy Institute series |
| spellingShingle | Yao, Shujie 1959- Wang, Pan China's outward foreign direct investments and impact on the world economy BUSINESS & ECONOMICS / Development / Economic Development bisacsh BUSINESS & ECONOMICS / Economics / Comparative bisacsh BUSINESS & ECONOMICS / International / Economics bisacsh Wirtschaft Investments, Foreign China Investments, Chinese BUSINESS & ECONOMICS / Development / Economic Development BUSINESS & ECONOMICS / Economics / Comparative BUSINESS & ECONOMICS / International / Economics Außenwirtschaftspolitik (DE-588)4003857-9 gnd Weltwirtschaftsgeografie (DE-588)4189615-4 gnd Auslandsinvestition (DE-588)4003772-1 gnd |
| subject_GND | (DE-588)4003857-9 (DE-588)4189615-4 (DE-588)4003772-1 (DE-588)4009937-4 |
| title | China's outward foreign direct investments and impact on the world economy |
| title_auth | China's outward foreign direct investments and impact on the world economy |
| title_exact_search | China's outward foreign direct investments and impact on the world economy |
| title_full | China's outward foreign direct investments and impact on the world economy Shujie Yao and Pan Wang |
| title_fullStr | China's outward foreign direct investments and impact on the world economy Shujie Yao and Pan Wang |
| title_full_unstemmed | China's outward foreign direct investments and impact on the world economy Shujie Yao and Pan Wang |
| title_short | China's outward foreign direct investments and impact on the world economy |
| title_sort | china s outward foreign direct investments and impact on the world economy |
| topic | BUSINESS & ECONOMICS / Development / Economic Development bisacsh BUSINESS & ECONOMICS / Economics / Comparative bisacsh BUSINESS & ECONOMICS / International / Economics bisacsh Wirtschaft Investments, Foreign China Investments, Chinese BUSINESS & ECONOMICS / Development / Economic Development BUSINESS & ECONOMICS / Economics / Comparative BUSINESS & ECONOMICS / International / Economics Außenwirtschaftspolitik (DE-588)4003857-9 gnd Weltwirtschaftsgeografie (DE-588)4189615-4 gnd Auslandsinvestition (DE-588)4003772-1 gnd |
| topic_facet | BUSINESS & ECONOMICS / Development / Economic Development BUSINESS & ECONOMICS / Economics / Comparative BUSINESS & ECONOMICS / International / Economics Wirtschaft Investments, Foreign China Investments, Chinese Außenwirtschaftspolitik Weltwirtschaftsgeografie Auslandsinvestition China |
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