Asia Rising: Emerging East Asian Economies as Foreign Investors
AbstractThis paper documents and analyzes the rise of emerging East Asian economies as major international investors. Foreign direct investment (FDI) from these economies is rising faster than their economic growth, trade, and inward FDI, and the region is by far the most important investor from the developing world. We develop an analytical interpretation of the behaviour and competitive strategies of major developing East Asian outward investors. We conclude that the drivers of this outward FDI are generally consistent with the international investment literature. But in addition particular factors are at work, including the desire for natural resource security, and exceptionally high domestic savings rates. The major challenge for the rest of the world is to accommodate these FDI flows, as part of the global reorientation of economic activity towards East Asia.
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Bibliographic InfoPaper provided by The Australian National University, Arndt-Corden Department of Economics in its series Departmental Working Papers with number 2011-07.
Length: 39 pages
Date of creation: 2011
Date of revision:
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East Asia; outward foreign investment; emerging economies;
Find related papers by JEL classification:
- F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
- F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
- O33 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
- O53 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-06-11 (All new papers)
- NEP-INT-2011-06-11 (International Trade)
- NEP-SEA-2011-06-11 (South East Asia)
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