外国直接投资、贸易、产品创新的理论和证据外文翻译

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1、中文 4026 字 本科毕业论文外文翻译 外文题目： FDI, Trade and Product Innovation: Theory and Evidence 出 处： Southerm Economic Journal 作 者： Hui-lin Lin and Lin Eric S FDI, Trade, and Product Innovation: Theory and Evidence This article investigates the relationship between foreign direct investment (FDI, including outwar

2、d FDI and inward FDI), imports and exports, and product innovation. Our theoretical model predicts that inward FDI, outward FDI, imports, and exports have positive influences on firm innovative activities, which would evaluate the effects of the relative magnitude of different sources on innovation.

3、 The empirical results based on the 2003 First Taiwan Technological Innovation Survey confirm three of the proposed hypotheses for the entire sample. However, when focusing on the manufacturing sector, outward FDI, inward FDI, imports, and exports all exhibit strongly positive effects on the determi

4、nation of conducting product innovation (i.e., the four hypotheses are verified). A consistent trend is that outward FDI has the largest effect on innovation, regardless of the measurement of product innovation and the division of the entire sample, which may imply that in Taiwan a positive effect o

5、f deindustrialization is to innovate more. 1. Introduction The current trend toward globalization has greatly increased the frequency of cross-border investments and international trade. For example, the amount of inward foreign direct investment (inward FDI) approved by the Investment Commission of

6、 the Ministry of Economic Affairs in Taiwan from 1991 to 2000 has had an average annual growth rate of 24.12%, which indicates that the local market actively uses the inward FDI. The amount of the approved outward FDI has shown an even higher average annual growth rate of 46.24% over the same period

7、 of time, which indicates that local firms arc actively investing in foreign markets. According to the Taiwan Statistical Data Book 2008, the average growth rates of exports and imports from 1991 to 2000 were 8.28% and 9.79%, respectively, representing the prevalence of international trade. The comp

8、etition generated by these cross-border investments and trade has been highly infiuential in shaping the innovative activities of firms (Jacquemin 1982； Cave 1985； Kumar and Siddharthan 1994； Bertschek 1995； Coe and Helpman 1995； Wagner 1995). Typically, there are two kinds of competition: One is ge

9、nerated by the entry of domestic firms into foreign markets and the other by the entry of foreign firms into domestic markets. The former takes the form of outward FDI and exports, while the latter takes the form of inward FDI and imports. Many studies have examined the effect of inward FDI and impo

10、rts on firm innovation, such as those of Zimmermann (1987), Veugelers and Houte (1990), Scherer and Huh (1992), Bertschek (1995), Co (2000), and Lofts and Loundes (2000). The authors of these studies find that inward FDI and imports can enhance competition and accelerate the process of innovation in

11、 the local manufacturing industry. However, only a few studies discuss the influences of outward FDI and exports on innovative activities. Lin and Yeh (2004) find that outward FDI and exports have a complementary positive impact on the research and development (R&D) of manufacturing firms, even thou

12、gh they do not derive a corresponding testable model. In a period of rapid globalization, it is important for both firms and the government to understand the relative impacts of inward FDI, outward FDI, imports, and exports on firms innovative activities. Different magnitudes of the effects provide

13、useful policy implications. To the best of our knowledge, there are no prior studies (either theoretical or based on empirical work) that simultaneously examine the infiuences of the four factors on a firms innovation and determine the most prominent factor(s) for innovation among the FDI and trade

14、activities. With regard to the empirical studies, it is even more difficult to find such studies for newly industrialized countries (such as Taiwan) because of the limitations on data availability.Furthermore, existing studies regarding the two types of competition for firms innovative activities mo

15、stly focus on the manufacturing firms, while very little is known regarding the behavior of the service industry. This study tries to fill these gaps in the literature. 2. Relationships between FDI, Imports and Exports, and Technological Innovation With economic liberalization, cross-border investme

16、nt and international trade prevail, and knowledge and technology move more rapidly across borders. This study examines how the above phenomena affect the product innovation activities of local firms. In general, foreign firms enter local markets through imports and inward FDI, while local firms ente

17、r foreign markets through exports and outward FDI, Since imports and inward FDI give rise to similar effects with regard to various aspects of firms innovative activities, and because exports and outward FDI have similar effects as well, we will discuss the relationship between inward FDI along with

18、 imports and innovation and the relationship between outward FDI along with exports and innovation, respectively, in the following sections. (1)Inward EDI, Imports, and Innovation From the perspective of industrial economics, imports have a disciplining effect on the home market because an increase

19、in imports can intensify the competition in the market, reduce the profit margins of native firms, and then encourage the firms to innovate in order to enhance their efficiency and secure their market share. This hypothesis has been theoretically (Jacquemin 1982； Caves 1985) and empirically (Pugel 1

20、978,1980； Turner 1980； Levinsohn 1991) supported by quite a few studies. The disciplining effect may also be generated by inward FDI, since inward FDI, like imports, can intensify the competition in the market. Bertschek (1995) argues that the effect of inward FDI is even greater than that of import

21、s. The reason for this is that FDI is so costly, time consuming, and irrevocable in terms of its sunk costs that decisions related to it must be prudently made. As a result, the impact of inward FDI on local firms is comparatively huge and persistent. Moreover, inward FDI not only increases efficiency but also brings about technological spillovers. Blind and