생산함수 하의 FDI의 경제적 효과와 동태성에 관한 이론·실증적 연구

초록

From the view of resource allocation, FDI can increase global production efficiency by distributing technologies, capital, and such invisible assets as know-hows and management skills. By this virtue, FDI is treated as a strategic pathway to obtain those necessary resources for economic development. In particular, FDI can create production effect for host countries, which contributes to their long-rum economic growth. At the meanwhile, the production effect, embedded within inward FDIs, can develop the business infrastructures of local countries, which can enhance their labor productivity ultimately. Acknowledging this feature, the paper tackles three research topics. First, a Cobb-Douglas production function is adapted for demonstrating FDI’s production effect in host countries along to labor productivity whose effect is incurred by business infrastructure enforcement. Second, revoking that FDI can have both a short-term static production effect and also a long-term dynamic one, an infinitely repeated game is established to analyze the sustainability of a FDI oriented production effect. According to main results, the larger the inward FDIs are, the larger the dynamic effects will be created throughout business infrastructure improvement, which supports, by the design of a game model, labor productivity. Third, some empirical works are attempted to test the predictions of the theory model. Most of all, FDIs have significant and positive effects on the economic performance of host countries, and both groups turn out to have significant and positive lag effects out of inward FDIs. Between the two groups, the OECD group benefits from business infrastructure enhancement more than the non-OECD group does.

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