Multinationals and Economic Growth »

Developing countries in East Asia recorded remarkable economic growth until the Asian financial crisis erupted in mid-1997. Although several countries experienced devastating setbacks, most of them recovered to achieve reasonable rates of economic growth over the next few years. Sound macroeconomic management, export-oriented policies, and the availability of skilled and low-wage labour are among the factors that contributed to the rapid economic growth before the crisis and the recovery thereafter. Especially noteworthy in this regard is the role played by foreign direct investment (FDI).

This comprehensive book identifies the factors that contributed to the expansion of FDI inflows in East Asia and the factors that enabled recipient countries to utilize FDI effectively. It includes detailed case studies on China, South Korea, Taiwan, Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. Also included is a comparative study of investing firms headquartered in the United States, Japan and Hong Kong. The authors conclude that social stability, clear and effective policy implementation and corporate governance are all key factors in reaping economic success from FDI.

List of Boxes     vi
List of Tables     vii
List of Figures     xii
Foreword     xiii
List of Contributors     xv
Introduction   Shujiro Urata   Chia Siow Yue   Fukunari Kimura     1
FDI Flows, their Determinants, and Economic Impacts in East Asia   Shujiro Urata     21
Japanese Manufacturing FDI and International Production and Distribution Networks in East Asia   Fukunari Kimura   Mitsuyo Ando     65
U.S. Firms and East Asian Development in the 1990s   Robert E. Lipsey     105
Hong Kong as a Source of FDI: Experience and Significance   Edward K. Y. Chen     131
The Role of Inward FDI: A Case Study of Foreign Firms in the Republic of Korea   Taeho Bark   Hwy-Chang Moon     157
Inward FDI in Singapore: Policy Framework and Economic Impact   Chia Siow Yue     181
Firm-Level Productivity and FDI in Taiwan   Bee-Yan Aw     223
Foreign Investment and Development: Indonesia's Experience   Mari Pangestu   Titik Anas     253
FDI Inflows and Economic Development: The Postcrisis Experience of Malaysia   Sieh Lee Mei Ling     287
FDI and Economic Development: TheCase of the Philippines   Myrna S. Austria     319
The Experience of FDI Recipients: The Case of Thailand   Peter Brimble     351
FDI and Economic Development: The Case of Vietnam   Tran Van Tho     393
The Experience of FDI Recipients: The Case of China   Yu Yongding     423
Liberalization, FDI Flows, and Economic Development: The Indian Experience in the 1990s   Nagesh Kumar     453
Index     489