Financial-Sector FDI and Host Countries: New and Old Lessons / Linda Goldberg.

Format:

Book

Author/Creator:

Goldberg, Linda.

Contributor:

National Bureau of Economic Research.

Series:

Working Paper Series (National Bureau of Economic Research) no. w10441.

NBER working paper series no. w10441

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Other Title:

Financial-Sector FDI and Host Countries

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2004.

Summary:

Many of the lessons from foreign direct investment (FDI) research on manufacturing and extractive resource industries are applicable to financial-sector FDI. This paper reviews the main findings and policy themes of FDI research, with a primary focus on the host country implications of FDI for emerging market economies. Evidence on technology transfers, productivity spillovers, wage effects, macroeconomic growth, and fiscal and tax concerns are emphasized. Throughout this review, I stress that parallel findings often arise independently in the separate research programs that focus on general and financial-sector FDI. I also emphasize that some important differences between the results of FDI into these sectors are apparent, especially with respect to their implications for local institution building and business cycles. These differences, more so than the similarities, should be the focus of concentrated research efforts.

Notes:

Print version record

April 2004.