外文翻译--中国的FDI国内投资与经济增长：一个时间序列分析.doc

中文3080字 本科毕业论文外文翻译 外文题目： Foreign Direct Investment, Domestic Investment and Economic Growth in China: A Time Series Analysis　　　 出 处： The World Economy, 2008.10,1467-9701. 作 者： Sumei Tang, E. A. Selvanathan and S. Selvanathan. 外文原稿 Foreign Direct Investment, Domestic Investment and Economic Growth in China: A Time Series Analysis Sumei Tang, E. A. Selvanathan and S. Selvanathan Introduction Despite a large amount of literature on the subject, the role of FDI in economic growth remains highly controversial. The proponents of FDI argue that it helps promote economic growth through technology diffusion and human capital development. This is particularly the case when MNEs in a host economy have vertical inter-firm linkages with domestic firms or have sub-national or sub-regional clusters of inter-related activities. Through formal and informal links and social contacts among employees, MNEs diffuse technology and management know-how to indigenous firms. Consequently, economic rents are created accruing to old technologies and traditional management styles. Also, FDI helps overcome capital shortage in host countries and complements domestic investment when FDI flows to high-risk areas or new industries where domestic investment is limited. When FDI occurs in resource industries, domestic investment in related industries may be stimulated. Moreover, FDI may result in an increased demand for exports from the host country, helping attract investment in the export industries. Empirical studies supporting these arguments include Sun (1998) and Shan (2002). Using the conventional regression model and panel data, Sun (1998) finds a high and significantly positive correlation between FDI and domestic investment in China. Shan (2002) uses a VAR model to examine the inter-relationships between FDI,industrial output growth and other variables in China. He concludes that FDI has a significantly beneficial impact on the Chinese econom