外商直接投资外文翻译

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1、外文翻译之一Toshareornottoshare:Doeslocalparticipationmatterforspilloversfromforeigndirectinvestment?Author(s)：BeataSmarzynskaJavorcikandMarianaSpatareanuNationality：U.S.Source：“Toshareornottoshare:Doeslocalparticipationmatterforspilloversfromforeigndirectinvestment?”JournalofDevelopmentEconomics,Arti

2、cleinpress1.IntroductionAlthoughdomesticequityownershiprequirementsusedtobeextensivelyutilizedbygovernmentsindevelopingcountries,2theirincidencehassharplydeclinedinrecentyears(UNCTAD,2003).Increasinglycompetitiveenvironmentforforeigndirectinvestment(FDI)andtheneedtocomplywithinternationalcommitm

3、entshaveputpressureongovernmentstorelaxrestrictionsonforeignentrants.Oneoftheoriginalmotivationsfortheexistenceofownershipsharingconditionswasthebeliefthatlocalparticipationinforeigninvestmentprojectsrevealstheirproprietarytechnologyandthusbenefitsdomesticfirmsbyfacilitatingtechnologydiffusion(s

4、eeBeamish,1988andBlomströmandSjöholm,1999).Aswritingacontractspecifyingallaspectsoftherightstouseintangibleassetsisdifficult,ifnotimpossible,jointdomesticandforeignownershipofaninvestmentprojectismorelikelytoleadtoknowledgedissipation.Alocalpartnermayusetheknowledgeacquiredfromtheforeigninvestor

5、initsotheroperationsnotinvolvingtheforeignshareholdersorbeinginchargeofhiringpolicies,asisoftenthecase,thelocalpartnermayhavelessincentivetolimitemployeeturnover.3Thisproblemisreducedwhenthemultinationalisthesoleownerofitsaffiliate.4Asaconsequence,multinationalsmaybemorelikelytotransfersophistic

6、atedtechnologiesandmanagementtechniquestotheirwhollyownedsubsidiariesthantopartiallyownedaffiliates.5III-10Thisinturnhasimplicationsforknowledgespilloverstolocalproducersinahostcountry.LesssophisticatedtechnologiesbeingtransferredtojointlyownedFDIprojectsmaybeeasiertoabsorbbylocalcompetitors,whi

7、chcombinedwithabetteraccesstoknowledgethroughtheactionsofthelocalshareholdermayleadtogreaterintra-industry(orhorizontal)knowledgespilloversbeingassociatedwiththesharedownershipstructurethanwithwhollyownedforeignaffiliates.Mo