FDI Spillovers, Financial Markets and Economic Development Laura Alfaro

ISBN: 9781282035249

Published: September 1st 2003

ebook

34 pages


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FDI Spillovers, Financial Markets and Economic Development  by  Laura Alfaro

FDI Spillovers, Financial Markets and Economic Development by Laura Alfaro
September 1st 2003 | ebook | PDF, EPUB, FB2, DjVu, AUDIO, mp3, RTF | 34 pages | ISBN: 9781282035249 | 3.40 Mb

This paper examines the role financial markets play in the relationship between foreign direct investment (FDI) and economic development. We model an economy with a continuum of agents indexed by their level of ability. Agents can either work for theMoreThis paper examines the role financial markets play in the relationship between foreign direct investment (FDI) and economic development.

We model an economy with a continuum of agents indexed by their level of ability. Agents can either work for the foreign company or undertake entrepreneurial activities, which are subject to a fixed cost. Better financial markets allow agents to take advantage of knowledge spillovers from FDI, magnifying the output effects of FDI.

Empirically, we show that well-developed financial markets allow significant gains from FDI, while FDI alone plays an ambiguous role in contributing to development.



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