外商直接投資和技術(shù)溢出泰國制造業(yè)的一個(gè)跨行業(yè)分析外文翻譯

1、<p>　　出處：World Development, 2006, 34(3): 541-556</p><p><b>　　中文3087字</b></p><p>　　畢業(yè)論文（設(shè)計(jì)）外文翻譯</p><p><b>　　一、外文原文</b></p><p>　　Foreign dire

2、ct investment and Technology Spillover: A Cross-industry Analysis of Thai Manufacturing</p><p>　　Foreign direct investment (FDI) has been widely recognized as a growth-enhancing factor in investment receivin

3、g (host) countries. FDI not only brings in capital but also introduces advanced technology that can enhance the technological capability of the host country firms, thereby generating long-term and sustainable economic gr

4、owth. More importantly, the technological benefit is not limited to locally affiliated firms but can also spread to non-affiliated ones. The latter benefit is usually ref</p><p>　　The expectation of gaining

5、from technology spillover persuades many developing countries to offer various incentives in order to attract FDI. However the results of empirical research to test the validity of technology spillover are far from concl

6、usive. Positive technology spillover from FDI has only been found in some countries.1 Overall, the findings seem to suggest technology spillover is not automatic, but depends on both country specific factors and policy e

7、nvironment.</p><p>　　Foreign Presence in Thai Manufacturing</p><p>　　Thirdly, foreign plants are likely to be located in a highly protected industry. The average ERP2 of industries whose output

8、shares of foreign plants are greater than 50% is 15.3%. The exception in these industries would be electrical machinery which is presumably dominated by labor-intensive assembled electronics and electrical appliances. On

9、 the other hand, regarding the industries where the share of foreign plants is less than 50%, average ERP tends to be lower at around 10.8%. In addition, t</p><p>　　Involvement of foreign plants in the manuf

10、acturing sector was predominately in import substituting industries such as textiles, automobiles, and chemicals up to about the late 1970s (Akira, 1989). From then on, it was directed to more export-oriented activities.

11、 To begin with, export-oriented foreign firms entered light manufacturing industries such as clothing, footwear, and toys. More recently, labor-intensive assembly activities in electronics and electrical goods industries

12、 have been the mai</p><p>　　Such involvement has closely mirrored the shift in the trade policy regime. Thailand began its first national economic development plan in 1961 with an import substitution (IS) re

13、gime to promote industrialization. Tariffs were the major instrument used to influence the country’s development path. The role of tariffs to promote the domestic industry effectively began in 1974 with the imposition of

14、 an escalating tariff structure, where the tariff rate ascended from raw materials to finished produc</p><p>　　Significant tariff reductions commenced in 1988, starting with electrical and electronic goods a

15、s well as with the inputs into these products. Comprehensive packages of tariff reform were implemented in 1995 and 1997. It involved tariff reduction and rationalization. Maximum tariffs were reduced from 100% in the ea

16、rly 1990s to 30%. By the end of the 1990s, the tariff bands were reduced from 39 to 6 tariff rates (0, 1, 5, 10, 20 and 30%). The two low rates (0 and 1%) were for raw materials and th</p><p>　　As a result,

17、average tariffs declined markedly from 30.2% in 1990 to 21.3% in 1995 and further to 11% in 2005. The dispersion of ERP also narrowed over the periods across industries. In 2003, the ERP range reduced to -27.1 to 142% (A

18、thukorala et al. 2004).4 The changes in the tariff structure would have significantly improved the incentive to attract FDI to industries where Thailand has a comparative advantage in international production.</p>

19、<p>　　Analytical Framework</p><p>　　Technology spillover from FDI is said to take place when the presence of a foreign firm generates productivity or efficiency benefits for the host country’s local no

20、n-affiliated firms (Blomström & Kokko,1998). As mentioned, technology spillover from FDI is not automatic but rather conditioned on the nature of the trade policy regime across industries. A theoretical framewor

21、k for examining the effect of the trade policy regime on the gains from FDI in a given host country was first presented by B</p><p>　　To illustrate how technology spillover takes place as well as how the tra

22、de policy regime across industries can alter the magnitude of these spillovers as suggested by Bhagwati (1973), we use the theoretical model developed by Wang & Blomström (1992). In the model, there are two firm

23、s, namely an affiliate of a multinational enterprise (MNE) and a local non-affiliated firm (henceforth referred to as the ‘foreign’ and ‘local’ firms, respectively), producing differentiated but substitutable product<

24、/p><p>　　On the other hand, the local firm can observe, learn, and adapt superior technology associated with the foreign firm to enhance its own technological capability. This is because the technology accompan

25、ied with the foreign firm has certain public good qualities, which cannot be fully internalized, thus the localization of the foreign firm could potentially generate positive externality in terms of technological benefit

26、 to the local firm. Since the market success of each firm depends on the level </p><p>　　To incorporate the ‘Bhagwati hypothesis’, the model discussed above is modified by hypothesizing that the trade policy

27、 regime influences the cost effectiveness in the learning activities of the local firm. That is, every effort to enhance the technological capability of the local firm is more costly in any industry where the trade regim

28、e is more restrictive. This is because much of the FDI flowing to an industry with high trade restrictions often enters relatively capital- and skill-intensive pr</p><p>　　In contrast, in the context of a li

29、beral trade regime, technology spillover from a foreign presence is likely to generate a more productivity enhancing effect. This is because the main incentives for FDI in a given host country are the relatively low labo

30、r costs and/or availability of raw materials. FDI inflows under an EP trade regime can be expected to employ technologies more in line with the host country’s comparative advantage. A higher level of policy neutrality cr

31、eates a higher likelihood</p><p>　　Conclusion</p><p>　　This paper examines technology spillover from FDI based on a cross-industry analysis of Thai manufacturing. The prime objective has been to

32、 test the ‘Bhagwati hypothesis’ that technology spillover is unlikely to take place in highly trade-restricted industries compared to more exportoriented ones. In order to allow for the simultaneity between sectoral prod

33、uctivity and the foreign presence, this study uses a system of two equations (productivity determinants and FDI determinants) to test the key</p><p><b>　　二、翻譯文章</b></p><p>　　外商直接投資和技

34、術(shù)溢出：泰國制造業(yè)的一個(gè)跨行業(yè)分析</p><p><b>　　問題的重要性</b></p><p>　　外商直接投資已被廣泛確認(rèn)為是對接受投資的國家的一種促進(jìn)增長的要素。外商直接投資不僅帶來了資金，也引進(jìn)了先進(jìn)的技術(shù)，提高了東道國公司的技術(shù)能力，從而產(chǎn)生長期和可持續(xù)的經(jīng)濟(jì)增長。更重要的是，技術(shù)的好處不僅限于當(dāng)?shù)刈庸具€可以蔓延到非關(guān)聯(lián)公司。后者的利益就是通常所說的技

35、術(shù)外溢效應(yīng)。</p><p>　　技術(shù)溢出獲利的可能性使得許多發(fā)展中國家為了吸引外資而提供各種優(yōu)惠。然而從根據(jù)技術(shù)溢出有效性的實(shí)證研究的結(jié)果來看，還遠(yuǎn)遠(yuǎn)沒有定論。而外商直接投資的正向技術(shù)溢出還僅僅只在一些國家被發(fā)現(xiàn)?？傮w而言，該發(fā)現(xiàn)似乎表明了技術(shù)溢出不是自然而然的，而是取決于國家的特定因素和政策壞境。</p><p>　　泰國制造業(yè)中的外國廠商</p><p>　　

36、第三，外國工廠可能處在一個(gè)被高度保護(hù)的行業(yè)位置。外國工廠的產(chǎn)量份額超過50%的行業(yè)的平均有效保護(hù)率是15.3%。而除了這些行業(yè)外，其他的主要是以組裝電子產(chǎn)品和電器為主的電氣機(jī)械。另一方面，外國工廠的份額卻不足50%，而平均有效保護(hù)率低于10.8%。此外，外國工廠的產(chǎn)量份額可能與市場集中的程度密切相關(guān)。</p><p>　　制造業(yè)部門中的外國工廠的參與在進(jìn)口替代行業(yè)中占主導(dǎo)地位，比如70年代末的紡織，汽車和化學(xué)品。

37、從此，開始了針對更多的出口為導(dǎo)向的活動。首先，以出口為導(dǎo)向的外國公司進(jìn)入了如服裝，鞋類和玩具等輕工制造業(yè)。最近，在電子和電器行業(yè)中的勞動密集型裝配活動已經(jīng)成為吸引外國投資者的主要領(lǐng)域。</p><p>　　這種參與反映了再貿(mào)易政策體制上的轉(zhuǎn)變。1961年，在進(jìn)口替代制度下，泰國開始了他的第一個(gè)國家經(jīng)濟(jì)發(fā)展計(jì)劃，以此來促進(jìn)工業(yè)化。關(guān)稅是用來影響國家發(fā)展道路的重要手段。1974年，從一個(gè)原料到成品的關(guān)稅稅率的增加使關(guān)

38、稅結(jié)構(gòu)不斷升級，關(guān)稅開始對有效促進(jìn)國內(nèi)產(chǎn)業(yè)起作用。這些變化不斷促進(jìn)成品的生產(chǎn)，尤其是消費(fèi)品。1975年，該保護(hù)在泰國制造業(yè)的效率范圍為-36到350%。1982年，變化擴(kuò)大范圍從-25.2至1693.4%。幾個(gè)像紡織品、輪胎、家具、汽車和皮革制品等有一個(gè)非常高的有效保護(hù)率。同時(shí)在各行業(yè)中有效保護(hù)率也有一個(gè)很高程度的變化。直到80年代末，這種關(guān)稅結(jié)構(gòu)大致保持不變，即使是在1974年政府宣布了新的出口促進(jìn)制度的發(fā)展戰(zhàn)略也沒有多大改變。<

39、;/p><p>　　1988年，泰國政府顯著降低了電子和電子產(chǎn)品以及這些產(chǎn)品中間投入物的關(guān)稅。在1995年和1997年關(guān)稅改革開始全面實(shí)施。它涉及關(guān)稅削減和合理化。最高關(guān)稅從90年代初的100%降低到30%。到1990年為止，關(guān)稅稅率等級從39個(gè)降到6個(gè)。最低的兩個(gè)稅率是針對原材料的，最高的兩個(gè)稅率是針對成品的，而中間的兩個(gè)稅率是針對中間產(chǎn)品的。此外，關(guān)稅調(diào)整已經(jīng)起到了一個(gè)重新強(qiáng)調(diào)加強(qiáng)過去兩年的效率和競爭力的整體經(jīng)濟(jì)

40、改革的潛在部分的目的的作用。從2003年開始，泰國政府推出了另一種降低關(guān)稅稅率的方法，從2004年到2008年四年為一個(gè)階段來削減關(guān)稅。在第二輪削減關(guān)稅時(shí)涉及約900個(gè)覆蓋范圍廣泛的制造業(yè)項(xiàng)目。這輪的關(guān)稅削減主要針對中間產(chǎn)品，從而維持了關(guān)稅結(jié)構(gòu)的升級。關(guān)稅削減的幅度在0至8.9%是屬于適中的。</p><p>　　結(jié)果，平均關(guān)稅從1990年的30.2%顯著降低到了1995年的21.3%，進(jìn)而到了2005年的11%

41、。有效保護(hù)率的分散也縮小了產(chǎn)業(yè)化的所需時(shí)間。2003年，有效保護(hù)率的范圍降低到-27.1至142%。在關(guān)稅結(jié)構(gòu)中的變化已經(jīng)極大的改善了泰國行業(yè)在國際產(chǎn)品上擁有的比較優(yōu)勢，從而吸引了外商直接投資。</p><p><b>　　分析架構(gòu)</b></p><p>　　當(dāng)一個(gè)外國公司的生產(chǎn)率或效率的存在有利于東道國本地非聯(lián)營的公司時(shí)就會發(fā)生外商直接投資的技術(shù)溢出。如上所述，外

42、商直接投資的技術(shù)溢出不是自動的，而是以整個(gè)行業(yè)的貿(mào)易政策制度為條件的。巴格沃蒂首次提出了一個(gè)用東道國外商直接投資收益對貿(mào)易政策制度效應(yīng)的審查的理論架構(gòu)，并將其作為對他的貧困化增長理論的延伸。并且它被巴格瓦蒂、布雷赫爾及迪亞茲、亞歷杭德羅和布雷赫爾和芬德利進(jìn)一步發(fā)展。從本文獻(xiàn)中提出的關(guān)鍵假設(shè)是，相比開放的，出口促進(jìn)制度，在進(jìn)口替代制度的限制下，技術(shù)溢出顯得更小或可能更負(fù)面。</p><p>　　為了說明技術(shù)溢出是如

43、何發(fā)生的和跨行業(yè)的貿(mào)易政策制度如何改變這些如巴格沃蒂所提議的溢出的嚴(yán)重程度，我們使用汪和Blomstrom開發(fā)的理論模型。在模型中，有兩個(gè)公司，即一個(gè)跨國企業(yè)的子公司和一個(gè)當(dāng)?shù)氐姆顷P(guān)聯(lián)公司為東道國市場生產(chǎn)不同的但可以替代的產(chǎn)品。技術(shù)外溢是這兩公司相互作用的結(jié)果。一方面，外國公司的進(jìn)入與來自母公司擁有的私有技術(shù)有關(guān)系，為了抵消潛在的劣勢，即當(dāng)?shù)仄髽I(yè)擁有的要素投入、商業(yè)管理或消費(fèi)者偏好。此外，先進(jìn)的技術(shù)會幫助外國公司在東道國獲得市場份額。然

44、而，跨國公司從總部轉(zhuǎn)移技術(shù)到子公司需要昂貴的成本。轉(zhuǎn)移的技術(shù)越先進(jìn)，轉(zhuǎn)移的成本就越高。由于成本和利益的存在，外國公司不得不決定努力從總部采取技術(shù)轉(zhuǎn)移來使凈收益最大化。這樣的努力取決于當(dāng)?shù)仄髽I(yè)對外國公司存在的反應(yīng)。在本地公司不斷向相關(guān)的外國公司學(xué)習(xí)先進(jìn)技術(shù)的情況下，其技術(shù)優(yōu)勢將不會持續(xù)很久。因此，為了保持優(yōu)勢或在東道國生存下來就需要在下列期間不斷實(shí)行技術(shù)轉(zhuǎn)移。與此相反，當(dāng)出現(xiàn)對當(dāng)?shù)毓緡L試學(xué)習(xí)相關(guān)技術(shù)的反應(yīng)較少時(shí)，反而會使外國公司更加缺少

45、動力去繼續(xù)從母公司獲得技術(shù)轉(zhuǎn)移。</p><p>　　另一方面，本地公司可以從相關(guān)的外國公司觀察、學(xué)習(xí)和適應(yīng)先進(jìn)的技術(shù)來加強(qiáng)自己的技術(shù)能力。這是因?yàn)楸緡夹g(shù)與外國公司相比已經(jīng)有一定的公共性質(zhì)，不能完全內(nèi)部化，因此外國公司的本土化就對本地公司的技術(shù)升級而言會產(chǎn)生潛在的積極外部效應(yīng)。由于每個(gè)企業(yè)在市場上的成功取決于它采用的技術(shù)水平，這就鼓勵了當(dāng)?shù)毓救W(xué)習(xí)相關(guān)的先進(jìn)技術(shù)。然而，學(xué)習(xí)和適應(yīng)相關(guān)的技術(shù)的成果與成本金額密切

46、相關(guān)，導(dǎo)致本地公司不得不努力學(xué)習(xí)相關(guān)的先進(jìn)技術(shù)。與外國公司相似，本地公司的學(xué)習(xí)成果也取決于外國公司的行為。</p><p>　　為了符合“巴格瓦蒂假說”，通過假定貿(mào)易政策制度影響本地公司在學(xué)習(xí)中的成本效益而修改以上所討論的模型。也就是說，加強(qiáng)本地公司技術(shù)能力的一切努力對受到更多限制的貿(mào)易制度的行業(yè)來說成本更高。這是因?yàn)楹芏嗤馍讨苯油顿Y經(jīng)常流入到生產(chǎn)主要提供給高度保護(hù)的國內(nèi)市場的資本和技術(shù)密集型產(chǎn)品的高貿(mào)易限制的行

47、業(yè)。雖然外商直接投資的生產(chǎn)技術(shù)沒有跨國公司本部用的技術(shù)新和先進(jìn)，但是比本地公司所采用的技術(shù)相對來說是屬于資本和技術(shù)密集型的。在這樣的環(huán)境里，本地公司就更難學(xué)習(xí)先進(jìn)技術(shù)了。而高度保護(hù)的國內(nèi)市場也許會鼓勵本地公司生產(chǎn)那些不能與外國子公司和被制度誘導(dǎo)而享有經(jīng)濟(jì)租金的公司生產(chǎn)的產(chǎn)品直接競爭的產(chǎn)品。KOKKO稱此為一種情況，即在這種行業(yè)的外國子公司因在“飛地”經(jīng)營而孤立了本地公司。</p><p>　　與此相反的是，在自由

48、貿(mào)易制度的背景下，國外公司的技術(shù)溢出可能產(chǎn)生更多的生產(chǎn)力促進(jìn)作用。這是因?yàn)樵诮o定的東道國外商直接投資的主要誘因是相對較低的勞動力成本或原材料的供應(yīng)。在環(huán)境保護(hù)貿(mào)易制度下外商直接投資流入量更多的被期望用于與東道國比較優(yōu)勢一致的技術(shù)上。一個(gè)更高層次的中立政策創(chuàng)造了一個(gè)更高的可能性，即跨國公司與東道國的生產(chǎn)為維持在國際市場上的競爭力地位而實(shí)施他們的戰(zhàn)略。有了這個(gè)動機(jī)，相關(guān)的先進(jìn)技術(shù)將會被切邊并充分利用東道國現(xiàn)有的資源稟賦。在這種情況下，外資參

49、與的示范效應(yīng)在東道國更容易實(shí)行。全球競爭也使所有的經(jīng)濟(jì)主體為提高效率而積極尋找技術(shù)創(chuàng)新。</p><p><b>　　結(jié) 論</b></p><p>　　本文探討了外商直接投資基于泰國制造業(yè)在各行業(yè)間的技術(shù)溢出效應(yīng)。首要目標(biāo)已經(jīng)驗(yàn)證了“巴格瓦蒂假說”，即技術(shù)溢出相對于更多的出口導(dǎo)向型行業(yè)來說不可能發(fā)生在受高貿(mào)易限制的行業(yè)。為了考慮到部門生產(chǎn)力和外資的存在的同時(shí)性，本文