外国直接投资是否对国内投资存在挤入或挤入效应？外文翻译.docVIP

本科毕业论文外文翻译原文 外文题目： Does Foreign Direct InvestmentCrowd in or Crowd out Domestic Investment? 出 处：Eastern European Economics, vol. 40, no. 2,March–April 2002, pp. 38–56. 作 者： JAN MI?UN AND VLADIMíR TOM?íK 原 文： Does Foreign Direct InvestmentCrowd in or Crowd out Domestic Investment? Abstract In this article, we attempt to estimate whether foreign direct investment in the Czech Republic, Hungary, and Poland crowds in or crowds out domestic investment. We used a model of total investment that introduced, from the point of view of the recipient country, foreign direct investment as an exogenous variable.We found that for the time period 1990—2000 there was evidence of a crowding-out effect in Poland. For the time period 1990—2000 in Hungary and for the time period 1993—2000 in the Czech Republic, we found a crowding-in effect. Foreign direct investment (FDI) is said to be one of the main factors in successful economic transformation and a rapid pace of economic growth in some Central and East European countries. Countries that have attracted larger amounts of foreign direct investment have come through the transformation process faster and usually with lower social costs. Foreign direct investment brings a variety of assets for the host country. Technology probably is among the most prized assets. Others are brand names, specialized skills, and the ability to organize and integrate production across countries, to establish a marketing network and to have privileged access to the market for proprietary assets. All these aspects together mean that multinationalscan contribute significantly to economic and social development in a host country. Foreign direct investment can take the form of greenfield investment, mergers and acquisitions (MAs), or a joint venture. Green fieldforeign direct investment is a new investment made bysetting up a new foreign affiliate. Inv