国际经济学17课件.pptVIP

Chapter12 International Resource Movements and Multinational Corporations Portfolio investments 证券投资 Purely financial assets, such as bonds, denominated in a national currency。 用一国货币计量的纯金融资产，比如股票和债券。 Foreign direct investments (FDI) 国际直接投资 Real investments in factories, capital goods, land, and inventories where both capital and management are involved and the investor retains control over use of the invested capital. 对工厂、资本实物、土地等的直接投资。资本和管理都由投资者一手安排，投资者保留对这些资本使用的控制权。 Motives for FDI to earn higher returns 为获得更高收益 higher growth rates abroad; more favorable tax treatment; greater availability of infrastructures;… horizontal integration 横向一体化 vertical integration 纵向一体化 to avoid restrictions that nations impose on imports 为了避开一些国家对进口商品施加的限制措施 to take advantage of various government subsidies to encourage FDI 为得到政府鼓励对外直接投资的补贴 to purchase a promising foreign firm to avoid its future competition 购买一个有前景的外国公司以避免未来的竞争 Welfare Effects of International Capital Flows Multinational Corporations (MNCs) 跨国公司 Firms that own, control, or manage production facilities in several countries. 在多个国家拥有、控制和管理生产设施的公司 Problems Created by MNCs in the Home Country loss of domestic jobs 由于MNC把资本投到国外使母国就业机会减少了 undermine the technological superiority and future of the home nation 损害了母国的技术领先地位及未来的发展 reduce tax revenues of the home nation 把生产经营转移到其他低税率国，减少了母国的税收收入 can circumvent domestic monetary policies and make government control in the home nation more difficult 能逃避过本国国内的货币政策，所以使母国政府对经济的调控更加困难 Problems Created by MNCs in the Host Country MNCs dominate the economies of the host nation 操纵了东道国的经济生活 example: exports policies; effect on tastes siphon off of RD funds and keep the host nation technologically dependent 吸收走东道国的科研开发基金，使东道国在技术上依赖母国 absorb local entrepreneurial talent 吸收走当地的高级人才 low prices paid to host nations 低价在当地收购产品 overexploitation of natural resources 过度开采自然资源 lack of training of local labor 不重视当地劳工培训 * * I