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Labor skills and foreign investment in a dynamic economy : estimating the knowledge-capital model for Singapore

  • Chellaraj, Gnanaraj
  • Maskus, Keith E.
  • Mattoo, Aaditya

Singapore is an interesting example of how the pattern of foreign investment changes with economic development. The authors analyze inbound and outbound investment between Singapore and a sample of industrialized and developing countries over the period 1984-2003. They find that Singapore’s two-way investment with industrialized nations has shifted into skill-seeking activities over the period, while Singapore’s investments in developing countries have increased sharply and become concentrated in labor-seeking activities. Singapore’s increasing skill abundance relative to all countries in the sample accounted for 41 percent of average inbound stocks during the period, that is, US$18 billion annually; the corresponding figure for outbound stocks was 40 percent, that is, US$5.51 billion annually.

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Paper provided by The World Bank in its series Policy Research Working Paper Series with number 4950.

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Date of creation: 01 Jun 2009
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Handle: RePEc:wbk:wbrwps:4950
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  1. Bruce A. Blonigen & Miao Wang, 2004. "Inappropriate Pooling of Wealthy and Poor Countries in Empirical FDI Studies," NBER Working Papers 10378, National Bureau of Economic Research, Inc.
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  10. Gao, Ting, 2003. "Ethnic Chinese networks and international investment: evidence from inward FDI in China," Journal of Asian Economics, Elsevier, vol. 14(4), pages 611-629, August.
  11. Theodore H. Moran & Edward M. Graham & Magnus Blomstrom, 2005. "Does Foreign Direct Investment Promote Development?," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 3810.
  12. Jang-Sup Shin, 2005. "The Role Of The State In The Increasingly Globalized Economy: Implications For Singapore," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 50(01), pages 103-116.
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  14. Anwar, Sajid, 2008. "Foreign investment, human capital and manufacturing sector growth in Singapore," Journal of Policy Modeling, Elsevier, vol. 30(3), pages 447-453.
  15. Andreas Waldkirch, 2010. "The structure of multinational activity: evidence from Germany," Applied Economics, Taylor & Francis Journals, vol. 42(24), pages 3119-3133.
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