臺灣博碩士論文加值系統

本文研究橫向和縱向直接投資（HFDI和VFDI）對包括出口，進口，淨出口在內的本國國際貿易的影響。 從2009年到2014年，利用包括12個不同國家的製造業和服務業在內的20個國家的國家級數據，發現兩類外商直接投資與本國國際貿易互補關係。 結果發現，HFDI和VFDI與本國貿易活動存在正向和統計顯著的相關性。 在這種情況下，VFDI估計比HFDI對貿易的影響更大。 我們也得出結論，HFDI不是出口的替代品，其他本國可以選擇橫向的FDI來增加它們的平衡貿易。

This paper researches the effect of Horizontal and Vertical Direct Investment (HFDI and VFDI) on home country international trade including exports, imports, net exports. Using Country-level data including 12 different United States’ manufacturing and service sectors whose affiliates are located in 20 different countries from 2009 to 2014, we find a complementary relationship between two types of Foreign Direct Investment (FDI) and home country international trade. In the result, a positive and statistically significant correlation of HFDI and VFDI with home trade activity is found. In this case, VFDI has estimated a greater impact on trade than HFDI. We also have a conclusion that HFDI is not an alternative of export, other home countries can prefer using horizontal oriented FDI to enhance their balance trade.

CONTENTS

Preface II
Paper I: The Relationship between Horizontal Foreign Direct Investment, Vertical Foreign Direct Investment and Home Country’s International Trade: Country-level Data Analysis 1
1. Introduction 2
2. Literatures review 3
2.1. Background 3
2.2. Theorizing on types of FDI and trade 5
2.3. VFDI and HFDI Decision 6
3. Methodology 6
3.1. Data description 6
3.2. The model 9
4. Results and Implications 12
4.1. Unit root test results 12
4.2. Cointegrating regression test results 12
4.3. Implications 19
5. Conclusions and Suggestions 21
References 23
Paper II: The Relationship between Horizontal Foreign Direct Investment, Vertical Foreign Direct Investment and Home Country’s International Trade: Industry-level Data Analysis 26
1. Introduction 27
2. Literatures review 28
2.1. The firm’s decision regarding FDI 28
2.2. Relationship between FDI and trade in industry-level 29
3. Methodology 30
3.1. Data description 30
3.2. The model 33
4. Results and Implications 35
4.1. Unit root test results 34
4.2. FMOLS test results 35
4.3. Implications 39
5. Conclusions and Suggestions 41
References 42
Paper III: Impact of Foreign Direct Investment and Trade on Country’s Economic Growth 45
1. Introduction 46
2. Literature review 47
2.1. HFDI and VFDI Decision 47
2.2. FDI, Trade and Economic growth 48
3. Methodology 50
3.1. Data description 50
3.2. The model 53
4. Results and Implications 56
4.1. Unit root test results 56
4.2. Choice of Lag Length 57
4.3. Granger causality test results 57
4.4. FMOLS test results 58
4.5. Implications 63
5. Conclusions and Suggestions 64
References 66

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