资源描述：
《An economic theory of FDI： A behavioral economics and historical approach》由会员上传分享，免费在线阅读，更多相关内容在学术论文-天天文库。
1、TheJournalofSocio-Economics34(2005)528541AneconomictheoryofFDI:AbehavioraleconomicsandhistoricalapproachHamidHosseini∗King’sCollege,133NorthRiverStreet,Wilkes-Barre,PA18711,USAAbstractThisisanattempttoarguethatexplainingtheforeigninvestmentdecision(FDI)neednotlieoutside
2、therealmofeconomics,foritcanbeexplainedusingtheattributesofbehavioraleco-nomics.Behavioraleconomics,whichtriestoimprovetheassumptiverealismofeconomictheory,andobjectstotheneoclassicalacceptanceofthesimplisticeconomicmodelofrationalagentsexhibit-ingoptimizingbehavior,isce
3、rtainlycapableofexplainingthedecisionofmultinationalenterprisesmakinginvestmentdecisionswhentheyfacethecomplexanduncertaininternationalenvironment.ItisinthisspiritthatIhavetriedtomodeltheFDIdecisionusingtheattributesofbehavioraleconomics.However,beforepresentingthisbehav
4、ioraleconomicsmodelofFDIdecisions,Idiscusstheprob-lemsthatneoclassicaleconomicsfacedinexplainingthenewrealityofFDI/internationalproductionafterWorldWarII,whenneoclassicaleconomistsutilizedtheunrelatedarbitragetheoryofportfolioflowstoexplainit.IdoalsoStephenHymerscritiqueo
5、fthatattempt,andhisattempttoexplainFDIdecision,whichhelpeditmoveoutsideoftherealmofeconomics.IdoalsoreviewanddiscussthevariousFDItheoriesthatemerged,afterthe1960dissertationofHymer,intheworksofDunning,Buckley,Casson,Markusen,andotherspresentedastransactioncost,internaliz
6、ation,andtheeclectictheoriesofforeigndirectinvestment.Whilepraisingthecontributionsofthesetheories,IarguethattheyareinferiortothebehavioraleconomicsbasedmodelIdevelopinthismodel.©2005ElsevierInc.Allrightsreserved.JELclassification:A12;B19;F21Keywords:Behavioraleconomics;M
7、ultinationalenterprises;Neoclassical;FDIAnearlierversionofthispaperwaspresentedatthe2002ConferenceoftheHistoryofEconomicSociety,Davis,California.∗Tel.:+17178265900x5696.E-mailaddress:hshossei@kings.edu.1053-5357/$seefrontmatter©2005ElsevierInc.Allrightsreserved.doi:10.1
8、016/j.socec.2005.07.001H.Hosseini/TheJournalofSocio-Economics34(2005)528–5415291.IntroductionIntheyears
