09385nam a2200577 i 4500 000474514 MiAaPQ 20190612071107.0 m o d | cr cnu|||||||| 140826s2014 enkad ob 001 0 eng|d NEZPRACOVANÝ IMPORT 9781137321091 (hardback) 9781137321107 (e-book) (MiAaPQ)EBC2057778 (Au-PeEL)EBL2057778 (CaPaEBR)ebr11061677 (OCoLC)884329229 HG5782 .Y374 2014 332.60951 23 Yao, Shujie, author. China's outward foreign direct investments and impact on the world economy / Shujie Yao, Professor and Founding Head of School, University of Nottingham, UK., Special Chair Professor of Economics, Chongqing University, China and Pan Wang, Senior Manager, Pingan Trust Co., China. Houndmills, Basingstoke, Hampshire ; New York, New York : Palgrave Macmillan, 2014. 1 online resource (293 pages) : illustrations. text rdacontent computer rdamedia online resource rdacarrier The Nottingham China Policy Institute series Includes bibliographical references and index. "With its GDP rivalling that of the US, China is fast becoming the world's largest economy. China's foreign exchange reserves have increased rapidly alongside it's economic development, and it has become one of the largest recipients of foreign direct investment. This study makes useful contributions to existing literature on China's outward investment's by examining the causes and consequences of China's outward foreign direct investment (OFDI) explosion. It is the first of its kind to introduce a partial stock adjustment model to examine the dynamic adjustment of China's OFDI.The authors provide a comprehensive view of the development of China's OFDI by comparing the early period of 1991-2000 and the more recent period of 2003-2009. Through the use of case studies and modeling approaches the authors examine the effects of China's outward investment on individual companies or industrial sectors. They study the underlying motivations and locational determinants of China's OFDI, the impact on other source countries' OFDI in the host countries, and the dynamic adjustment of China's OFDI and its relationship with China's inward foreign direct investment (IFDI). The two case studies on Chinalco's investment in Rio Tinto and Geely's acquisition of Volvo reveal two important motivations of Chinese firms: resource-seeking and technological seeking. The modelling results show that China's outward investments have had significant displacement effect on OECD countries' investments. In contrast to many media commentaries, the authors suggest that such effects are not resources-oriented. Finally, the study examines the motivation behind China's outward investments, and suggests that China has implemented a national policy to promote overseas investment for two reasons: national security and national status as a business power.This study focuses on the development of China's OFDI and the examines the impact it has on the world economy. It will be an indispensable tool for sch Description based on print version record. Electronic reproduction. Ann Arbor, MI : ProQuest, 2016. Available via World Wide Web. Access may be limited to ProQuest affiliated libraries. Cover -- Half-Title -- Series -- Title -- Copyright -- Contents -- List of Figures -- List of Tables -- Preface -- About the Authors -- List of Abbreviations -- 1 Introduction -- 1 Background -- 2 Motivations and objectives -- 2.1 Locational determinants of China's OFDI -- 2.2 Dynamic adjustment of China's OFDI and its relation with China's IFDI -- 2.3 Does China displace the OECD countries' OFDI in third-party host countries? -- 3 Contributions and book structure -- 2 Literature on China's OFDI -- 1 Introduction -- 2 FDI theories and empirical examinations -- 2.1 General theories and empirical examinations -- 2.2 Outward foreign direct investment and development -- 3 Gravity model in FDI studies -- 4 Studies on China's OFDI -- 4.1 A brief history and background of China's OFDI -- 4.2 Descriptive studies on China's OFDI -- 4.3 Empirical studies on China's OFDI -- 5 Conclusion -- 3 China's OFDI and Resource-seeking Strategy: A Case Study on Chinalco and Rio-Tinto -- 1 Background -- 2 Consolidation of the world mining industry and China's OFDI -- 3 The thorny path of China's national champions to become global giants -- 4 Theories of OFDI in the Chinese context -- 5 Financial crisis as a catalyst for China's OFDI -- 6 Conclusion -- 4 OFDI and Technology-seeking Strategy: A Case Study of Geely's Acquisition of Volvo -- 1 Introduction -- 2 China's automotive industry development -- 2.1 The closed doors period (1949-69) -- 2.2 The import substitution period (1970s-early 1990s) -- 2.3 The opening up and fast expansion period (1990s-present) -- 2.4 The emergence of ICAMs -- 2.5 The booming market -- 2.6 Current challenges -- 3 'The third road': overseas M&amp -- As -- 3.1 Geely-Volvo acquisition -- 3.2 Li Shufu and Geely -- 3.3 Global perspectives of Geely's overseas purchase -- 3.4 Geely's motivations for acquiring Volvo. 3.5 Marriage of Geely and Volvo: post-acquisition challenges -- 4 'Inorganic approach' to globalisation -- 4.1 Reasons for overseas M&amp -- As -- 4.2 Outward technology-seeking path: how to be sustainable? -- 4.3 Urgent needs for technological innovation -- 4.4 Thirst for talent -- 4.5 Safety and reputation -- 4.6 New energy vehicles -- 5 Conclusion -- 5 Location, Resources and Technology of China's OFDI -- 1 Introduction -- 2 Previous research -- 2.1 Studies on the effects of natural resources on OFDI -- 2.2 Studies on the effects of technology on OFDI -- 3 Methodology -- 3.1 Benchmark specifications -- 3.2 Resources-seeking: the role of governance and mineral prices -- 3.3 Dual effects of technology on China's OFDI -- 4 Data and summary statistics -- 4.1 Data -- 4.2 Statistics summary -- 5 Resources and discussion -- 5.1 Baseline results -- 5.2 The joint effect of resources and governance -- 5.3 The joint effect of oil/metal abundance and oil/metal price -- 5.4 The dual effects of technology on China's OFDI -- 6 Robustness check -- 6.1 Heckman selection model -- 6.2 Tobit censored at an alternative value -- 6.3 Estimations excluding SARs -- 6.4 China's pre-crisis OFDI -- 6.5 Estimations excluding outliers -- 7 Conclusion -- 6 Dynamic Relationship between China's IFDI and OFDI -- 1 Introduction -- 2 Previous research -- 2.1 Dynamic adjustment of IFDI -- 2.2 Agglomeration effect on FDI -- 2.3 China's IFDI and its relation with OFDI -- 3 Methodology -- 3.1 Partial stock adjustment model -- 3.2 The gravity model and augmented gravity specification -- 3.3 Dynamic panel estimations: GMM -- 4 Data and statistics summary -- 4.1 Data -- 4.2 Statistics summary -- 5 Results and discussion -- 5.1 Baseline results -- 5.2 Do host country's characteristics matter? -- 6 Robustness check -- 6.1 Estimations using different instrument matrices. 6.2 Estimations excluding SARs -- 6.3 Estimations excluding outliers -- 7 Conclusion -- 7 Does China's OFDI Displace OECD's OFDI? -- 1 Introduction -- 2 Literature review -- 3 Methodology -- 3.1 Gravity model and augmented gravity specification -- 3.2 Benchmark estimation methods -- 3.3 IV estimation -- 4 Data and statistics summary -- 4.1 Data -- 4.2 Statistics summary -- 5 Results and discussion -- 5.1 Baseline results -- 5.2 Effect of host country characteristics -- 5.3 Effect of home country characteristics -- 5.4 Effect of host-home country pair characteristics -- 5.5 Summary of displacement based on the TSLS estimation -- 5.6 Alternative IV estimations -- 6 Conclusion -- 8 Policy Implications and Conclusions -- 1 Summary of findings -- 2 Limitations and future research -- 3 Policy implications -- Appendices -- Notes -- Bibliography -- Index. Machine generated contents note: -- 1. Introduction2. Literature on China's OFDI3. China's OFDI and Resource-Seeking Strategy: A Case Study on Chinalco and Rio Tinto 4. OFDI and Technology-seeking Strategy: A Case Study of Geely's acquisition of Volvo 5. Location, Resources and Technology of China's OFDI6. Dynamic Relationship between China's IFDI and OFDI 7. Does China's OFDI Displace OECD's OFDI? 8. Policy Implications and Conclusions. Investments, Foreign China. Investments, Chinese. elektronické knihy fd186907 czenas electronic books eczenas Wang, Pan, 1983- author. ProQuest (Firm) Print version: Wang, Pan China's Outward Foreign Direct Investments and Impact on the World Economy London : Palgrave Macmillan UK,c2014 9781137321091 Nottingham China Policy Institute series. https://ebookcentral.proquest.com/lib/vsep/detail.action?docID=2057778 Plný text https://knihovna.vse.cz/zdroje/proquest-ebook-central/?info Informace o práci s e-knihami PQ-OWNED EB NEPOSILAT EB