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
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
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