臺灣博碩士論文加值系統

本研究主要探討利用移民與旅遊等兩個管道之跨國社會互動對海外直接投資決策的影響。我們認為海外直接投資內流會隨者人民大量的跨國性移動而增加。主要是因為：1)投資人可以透過該社交所建立之社會網路取得有關投資目的國有用的資訊；2)投資人喜歡對具有較大熟悉度的國家進行投資。利用來自世界銀行的移民與旅遊的資料，我們的實證結果證明移民和旅遊的網路與東亞與東南亞國家之海外直接投資內流具有顯著關係，無論在權益或負債投資上皆有相同效果

The thesis investigates the effect of social interaction across countries through two channels - migration and tourism - on decisions in foreign direct investment (FDI). We argue that FDI inflows increase with greater movements of people across countries, because 1) investors may acquire more valuable information regarding destination countries through such social networks and 2) investors prefer to make investments in countries with greater familiarity. Employing migration and tourism dataset from World Bank, our empirical results provide evidence that migration and tourism networks are significantly related to inward FDI flows, either equity or debt, to countries in East and Southeast Asia.

CHAPTER 1 INTRODUCTION 1
1.1. Research background 1
1.2 Research motivation and objectives 3
1.3 Research structure 4
CHAPTER 2 LITERATURE REVIEW 6
2.1. Definition and relevance of Foreign Direct Investment 6
2.2. Migration and tourism flow 9
2.3. Foreign Direct Investment linkages 11
2.3.1. FDI and culture 12
2.3.2. FDI and information 13
2.3.3. FDI and international migration 14
2.3.4. FDI and international tourism 16
CHAPTER 3 METHODOLOGY 19
3.1. Gravity model 19
3.1.1. Basic gravity equation 21
3.1.2. Augmented gravity equation 22
3.2. Variable definitions and data sources 23
3.2.1. FDI 24
3.2.2. GDP 24
3.2.3. GDP growth 24
3.2.4. International migrant stock 25
3.2.5. International tourist arrivals 25
3.2.6. Familiarity variables 25
CHAPTER 4 EMPIRICAL RESULTS OF ESTIMATION 29
4.1. FDI debt inflow 29
4.1.1. GDP 29
4.1.2. GDP growth 29
4.1.3. International migrant stock 31
4.1.4. International tourist arrivals 31
4.1.5. Familiarity variables 31
4.2. FDI equity inflow 32
4.2.1. GDP 32
4.2.2. GDP growth 34
4.2.3. International migrant stock 34
4.2.4. International tourist arrivals 34
4.2.5. Familiarity variables 34
CHAPTER 5 CONCLUSION 36
5.1. Summary of research 36
5.2. Future research directions 37
REFERENCES 39
APPENDIX 44