ch10International-Factor-Movements-and-Multinational-Enterprises(国际经济学-浙江林学院-岑丽娟).ppt

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1、InternationalEconomicsByRobertJ.Carbaugh8thEditionChapter10:InternationalFactorMovementsandMultinationalEnterprisesFactormovements&multinationalenterprisesMultinationalenterprisesVariousbusinessoperationsinnumeroushostcountriesHeadquartersoftenfarfromoperationsStockownershipandmanageme

2、ntaremulti-nationalFrequentlyemployverticalintegration,horizontalintegration,conglomeratestructure2Carbaugh,Chap.10MultinationalenterprisesForeigndirectinvestmentAforeignormultinationalfirmcanbuyacontrollinginterestinalocalfirmBuyorbuildnewplantsorequipmentoverseasShiftfundsabroadtoexpa

3、ndasubsidiaryReinvesttheearningsofaforeignsubsidiary3Carbaugh,Chap.10MultinationalenterprisesReasonsforforeigndirectinvestmentDemandfactorsServedifferentlocalmarketsRespondtomarketcompetitionCostfactorsAccesstokeyrawmaterialsLaborcostsTransportationcostsGovernmentpolicies4Carbaugh,Chap.

4、10ChoicebetweenexportandFDIForeigndirectinvestment5Carbaugh,Chap.10ChoicebetweenlicensingandFDIForeigndirectinvestment6Carbaugh,Chap.10MultinationalenterprisesInternationaljointventuresTwocompaniescanoperateaventureinathirdcountryAforeignfirmcanworkwithalocalcompanyAforeignfirmcanformav

5、enturewithaunitofthelocalgovernment7Carbaugh,Chap.10MultinationalenterprisesReasonsforinternationalJVsCostsharing-R&D,capitalexpenditures(inminingandoil,forexample)Avoidingrestrictionsonforeignownershipoflocalfirms(ensuringlocalparticipation)ForestallingpressureforprotectionismProblems:

6、dividedcontrolmeanssuccessofJVdependsonabilityoffirmstoworktogether8Carbaugh,Chap.10EffectsofaninternationalJVMultinationalenterprises9Carbaugh,Chap.10MultinationalenterprisesControversyovermultinationalsEmploymentHostcountrymaynotgainmanyjobs,foreignmanagersoftenbroughtin;sourcecountry

7、worriesaboutlosingjobsTechnologytransferMNEsarereluctanttosharetechnologywithhostnations;sourcecountryworriesaboutgivingawayadvantage10Carbaugh,Chap.10MultinationalenterprisesControversyovermultinationals(Cont’d)NationalsovereigntyHostcountryworriesaboutpowerofMNEtoinfluenceaff