Malaysia’s outward FDI: The effects of market size and government policy

105上學期10404617期中報告影片 

更新Malaysia’s outward FDI: The effects of market size and government policy

Soo Khoon Goh, , Koi Nyen Wong
Available online 23 December 2010
Abstract
This paper extends the empirical literature of Malaysia’s outward FDI (OFDI) by considering the impact of foreign market size and home international reserves using multivariate cointegration and error-correction modeling techniques. The empirical results reveal that there is a positive long-run relationship between Malaysia’s OFDI and its key determinants, viz. foreign market size, real effective exchange rate, international reserves and trade openness. The main findings suggest that apart from the market-seeking incentive and the adoption of outward-oriented policies, the Malaysian government could also encourage OFDI by implementing liberal policy on capital outflows. On the basis of these findings, we draw some policy implications for the country’s economic development and the internationalization of Malaysian firms in the era of globalization.
© 2010 Society for Policy Modeling. Published by Elsevier Inc. All rights reserved.
JEL classification: F210
Keywords: Outward

Malaysia’s outward FDI: The effects of market size and government policy

105上學期10404617 期末報告影片

 

台灣對外直接投資的流出:市場規模與政府政策的影響

學生:楊明芳

學號:10404617

授課教授:楊奕農

中原大學

摘要

台灣經濟屬於淺碟型經濟，且受限於缺乏自然資源，透過對外投資發展以求維持高度經濟發展，所以本文的主要目的即是探討台灣對外直接投資流出的決定因素。本研究使用2003年第三季至2015年第四季的時間數列資料共計50筆，以最小平方估計式(ordinary least squares estimator，簡稱OLS)，估計台灣的對外直接投資流出外國市場規模、台灣國際收支餘額、貿易開放程度、台幣兌換美元匯率變動等四要素因子對台灣直接投資流出決定因素，結果顯示在的模型中，當外國市場規模越大、台灣國際收支餘額成長以及台幣貶值時都有利於增加台灣對外直接投資資金的流出。

關鍵字：外國人直接投資流出、台灣、市場規模、國際收支餘額、貿易開放、匯率

Keywords: Outward FDI, Taiwan, Foreign Market size, Balance of payments, Trade openness, Exchange rate

JEL分類代碼F21

105上學期10404617期中報告影片 

更新Malaysia’s outward FDI: The effects of market size and government policy

Soo Khoon Goh, , Koi Nyen Wong
Available online 23 December 2010
Abstract
This paper extends the empirical literature of Malaysia’s outward FDI (OFDI) by considering the impact of foreign market size and home international reserves using multivariate cointegration and error-correction modeling techniques. The empirical results reveal that there is a positive long-run relationship between Malaysia’s OFDI and its key determinants, viz. foreign market size, real effective exchange rate, international reserves and trade openness. The main findings suggest that apart from the market-seeking incentive and the adoption of outward-oriented policies, the Malaysian government could also encourage OFDI by implementing liberal policy on capital outflows. On the basis of these findings, we draw some policy implications for the country’s economic development and the internationalization of Malaysian firms in the era of globalization.
© 2010 Society for Policy Modeling. Published by Elsevier Inc. All rights reserved.
JEL classification: F210
Keywords: Outward

RE國金期中 Understanding Chinese consumption goods imports.

Understanding Chinese consumption goods imports.

作者:

Thorbecke, Willem1 willem-thorbecke@rieti.go.jp

資料來源:

Journal of Policy Modeling. Jan2016, Vol. 38 Issue 1, p96-102. 7p.

文件類型:

Article

主題術語:

*CONSUMPTION (Economics)
*RESEARCH
*IMPORTS
*MARKETING
*PER capita
*GROSS domestic product
CHINA
LEAST squares

作者提供的關鍵字:

China
Exchange rate elasticities
F32
F41

摘要:

China's consumption imports per capita in 2012 equaled $36, much less than comparable countries’ imports. This paper investigates the determinants of consumption imports. Evidence from panel dynamic ordinary least squares estimation and imports from 20 leading trading partners over the 1992–2012 period indicates that GDP growth and renminbi appreciation would cause large increases in China'sconsumption imports. Thus if policymakers continue fostering growth and development and continue allowing the renminbi to appreciate, they would enable Chinese consumers to purchase more medicine, food, and other goods from the rest of the world. [ABSTRACT FROM AUTHOR]

 

Copyright of Journal of Policy Modeling is the property of Elsevier Science Publishing Company, Inc. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

作者所屬機構:

1Research Institute of Economy, Trade and Industry, Japan

ISSN:

0161-8938

DOI:

10.1016/j.jpolmod.2015.12.002

入藏號碼:

112850085

YOUTUBE期中:https://youtu.be/FZ8VrLwxtWw

A STUDY OF THE RELATION BETWEEN INFLATION AND EXCHANGE RATES IN THE FIJIISLANDS: A COINTEGRATION AND VECTOR ERROR CORRECTION APPROACH.

台灣通貨膨脹與匯率關係之研究：共整合與向量誤差修正之研究

摘要

     本研究以台灣為例，主旨在探討匯率、國際供給價格、需求衝擊和選舉對台灣通貨膨脹的影響為何，其研究發現，貿易條件為影響匯率的長期關係，且為正向，這與以往學者的研究結果相同；長期穩定關係下，匯率對國內物價指數的影響是負向關係，國際供給衝擊對本國通貨膨漲的影響是雙向的。本研究採用數據從1981年至2014年的季資料。多變量共整合在進行單根檢定之後，使用向量誤差修正模型來估計台灣消費者物價指數在受到其它解釋變數之間的長期關係與短期動態調整，並選用虛擬變數作為VEC模型的外生變數。我們研究的政策含義，通貨膨脹在面對國際供給、價格衝擊、匯率及選舉期間，作為一種貨幣政策工具的靈活性調整，以及其關係的相互影響。

關鍵字：匯率、通貨膨脹、小型開放經濟、需求和供給衝擊、貨幣貶值、共整合檢定、向量誤差修正模型。

A STUDY OF THE RELATION BETWEEN INFLATION AND EXCHANGE RATES IN THE FIJIISLANDS: A COINTEGRATION AND VECTOR ERROR CORRECTION APPROACH.

作者:

Paul, Muthucattu Thomas1 paul_t@usp.ac.fj
Yih Pin Tang1
Bhatt, Markand1

資料來源:

Journal of Developing Areas. Fall2014, Vol. 48 Issue 4, p1-20. 21p.

文件類型:

Article

主題術語:

*Foreign exchange rates
*Inflation (Finance)
*Supply & demand
*Vector error-correction models
*Monetary policy
Fiji -- Economic conditions

作者提供的關鍵字:

cointegration
demand and supply shocks
devaluation
Exchange rates flexibility
inflation
small open economy
VEC model

摘要:

The main purpose of this study is to examine the effects of the exchange rates, international prices, and the demand shocks on inflation in Fiji. How the domestic inflation in a pegged exchange rate system is aligned with international price shocks is an important monetarist idea, and this is tested in this study. This study employs annual data from 1975 to 2010. The multivariate cointegration tests are done after the unit root tests, and further, the Vector Error Correction (VEC) model shows that the changes in Fiji's CPI are Granger caused by the long-term trends in all other variables, and the CPI in Australia, and devaluation-year dummies are used as exogenous variables in the VEC model, and the changes in exchange rate and changes in demand shocks are the independent variables but made endogenous in the VEC model. The impulse response function also shows that due to the exchange rate depreciation, inflation has increased for many years in Fiji. The policy implication of our study is that as a monetary policy instrument, the flexibility of the exchange rate policy is indispensable for Fiji to appropriately absorb the international supply and price shocks. [ABSTRACT FROM AUTHOR]

 

Copyright of Journal of Developing Areas is the property of Tennessee State University, College of Business and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

作者所屬機構:

1University of the South Pacific, Fiji

ISSN:

0022-037X

DOI:

10.1353/jda.2014.0061

入藏號碼:

97122685

資料庫:

Business Source Complete

The Impact of Capital Flows on the Real Exchange Rate: the Case of Romania

作者:

Angela, Roman1 aboariu@uaic.ro
Silvia, Ghita-Mitrescu2 mitrescu.silvia@gmail.com
Diana, Sadoveanu1 diana.sadoveanu@gmail.com

資料來源:

Ovidius University Annals, Series Economic Sciences. 2014, Vol. 14 Issue 1, p188-193. 6p.

文件類型:

Article

主題術語:

*RESEARCH
*Foreign exchange rates
*Balassa-Samuelson effect
Capital movements
Romania -- Economic conditions
Euro -- Economic aspects

作者提供的關鍵字:

Capital flows
Harrod-Balassa-Samuelson effect
Johansen cointegration
real exchange rate

摘要:

This paper examines the influence of the capital flows on the real exchange rate of the Romanian leu against euro. Many studies which are analysing the fundamental determinants of the exchange rate of the leu, show that the appreciation of the currency, before the financial crises from the last years, was due to the real convergence of the Romanian economy. In our study we have showed that the capital account contributed to the appreciation of the leu, rather than the influence of the Harrod-Balassa-Samuelson effect. We found a long-run relationship among the real exchange rate, foreign direct investments and workers remittances from abroad. [ABSTRACT FROM AUTHOR]

 

Copyright of Ovidius University Annals, Series Economic Sciences is the property of Ovidius University of Constantza, Faculty of Economic Sciences and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

作者所屬機構:

1„Alexandru Ioan Cuza" University of Iasi, Romania Faculty of Economics and Business Administration
2„Ovidius" University from Constanta

ISSN:

2393-3127

入藏號碼:

109415096

資料庫:

Business Source Ultimate

ECONOMETRIC ANALYSIS OF EXTERNAL DEBT, EXCHANGE RATE AND ECONOMIC GROWTH IN NIGERIA.

作者:

Ayunku, Peter Ego1
Etale, Lydnon M.1

資料來源:

Researchers World: Journal of Arts, Science & Commerce. Apr2016, Vol. 7 Issue 2, p83-89. 7p.

文件類型:

Article

主題術語:

*EXTERNAL debts
*FOREIGN exchange rates
*RESEARCH
*ECONOMIC development
*ECONOMETRICS
NIGERIA
ECONOMIC conditions

作者提供的關鍵字:

Debt Management Office
Debt portfolio
Economic growth
Exchange rate
External borrowings
External debt
Gross domestic product

摘要:

This study examined the effect of external debt and exchange rate on economic growth in Nigeria. The study employed Unit Root test, Descriptive statistics, Johansen-Juselius Cointegration test and Vector Error Correction model using E-Views computer software to analyse time series secondary data collected for the period 1981 to 2012. The findings revealed that external debt contributes positively to economicgrowth in Nigeria in the short run but had a statistically negative significant influence on economic growth in the long run. On the other hand, exchange rate had a positive influence on economic growth in Nigeria in the long run but had a statistically negative significant influence on economic growth in the short run. The results of the study as they stand, has important policy implications for the economic growth of Nigeria. The study therefore recommends that policy makers and the regulatory authorities adopt appropriate exchange rate regime for the country to achieve meaningful economic development. It is also recommended that the relevant authorities should be proactive in the management of the country's external debt portfolio and all external borrowings should be judiciously utilized to accelerate the desired economic growth in Nigeria. [ABSTRACT FROM AUTHOR]

 

Copyright of Researchers World: Journal of Arts, Science & Commerce is the property of Educational Research Multimedia & Publications and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

作者所屬機構:

1Department of Finance and Accountancy, Niger Delta University, Bayelsa State, Nigeria

ISSN:

2231-4172

DOI:

10.18843/rwjasc/v7i2/08

入藏號碼:

115386563

資料庫:

STM Source

2016.11.21更改
期末報告影片：https://youtu.be/3iBDNkv0_pc