Growth and Welfare ERects of Trade and FDI Liberalizations
2005/08/16
研討會日期 : 2005-08-16
時間 : 15:00
主講人 : Prof. Lu, Chia-Hui
地點 : B棟110室
演講者簡介 : Prof. Lu, Chia-Hui 為Ph.D. in Economics，University of Wisconsin-Madison (2004)。
現為本所助研究員。
其主要研究領域為International Trade and Investment、Economic Growth及Applied Microeconomics。
演講摘要 : This paper studies the impacts of liberalization on growth and welfare in a dynamic general equilibrium model of North-South trade in which continuing innovation propels economic growth. Gains from trade liberalization for both countries are guaranteed due to specialization in production and innovation. When FDI (Foreign Direct Investment) is further liberalized, product-cycle trade emerges. Through FDI, obsolete technologies that are no longer profitable to be performed in the North are transferred to the low-wage South. FDI crowds out resource but contributes no technology improvement that is the “non-creative destruction” feature of FDI highlighted in this paper. If the South's developmental level is sufficient low, the world growth rate may be reduced even some Northern labor is released from manufacturing to innovation after the South penetrates into the technological sector. Asymmetric welfare effects occur in which the North alone encounters loss in portfolio value and real wage.
