10384 B200009005 UDC 2003 4 2003 2003 2003 4
20 80 20 80 80
Abstract The historical-cost position of foreign direct investment in the United States (FDIUS) accounts for the largest share of world FDI outward stock among all the economies, yet scholars have not made enough research into it because of the short history of US being the No. 1 FDI host country in the world. Based on the abundance of factual materials, this dissertation studies systematically the development of FDIUS in the contemporary era, analyzes the driving factors of this amazingly fast growth, presents the major investing countries and major invested industries, discusses the various effects of FDIUS on the host country s economy, and proposes some advice for the promotion of China s FDIUS. The dissertation includes 6 chapters. The first chapter reviews the development history and characteristics of FDIUS in the 20th century, with the emphasizing of the growth of direct investment position, the major investing countries, the major invested industries, the outlays by type of investment (US business acquired or established) and the type of capital inflows. The second chapter probes into the factors promoting the fast growth of FDIUS. The favorable investment environment and the increased import barriers constitute the obvious location advantage of the United States. The falling of exchange rate of US dollar and the flourishing of US securities market provide the profitable investment opportunities for foreign investors. The reinforcement of the investing countries and transnational corporations lays the stable foundation for their direct investment in the United States. The third chapter is a country specific analysis. Through the studying of the investment scales, the major invested industries and the characteristics of capital inflows, the author compares the FDIUS growth from such major investing countries as Canada, Japan, the United Kingdom, Netherlands, Germany, France and Switzerland. The following chapter analyzes FDIUS by Industry. In this chapter, the author
presents the foreign direct investment growth and the operation status of foreign-owned US affiliates in such major invested industries as petroleum, chemicals, machinery, wholesale, non-banking finance, insurance and real estate. The fifth chapter discusses the various effects FDIUS on the US economy, including investment supplement effect, technical spillover effect, effect of foreign trade and international balance of payment, employment effect and competition effect, followed by the overall assessment of the influence of FDIUS and its sustainability. The last chapter introduces briefly the development of China s direct investment in the United States. After revealing the existing problems, the author proposes some possible countermeasures to speed up the growth of China s direct investment in the United States. Key words: FDI United States Effects
1 5 20 80 5 5 70 7 20 80 10 10 11 13 14 18 18 19 20 22 23 25 26 30 30 80 31 31 33
34 35 35 36 37 37 39 42 42 80 42 43 45 47 80 47 50 53 54 80 55 57 59 60 80 61 63 64 66 66 68 69
72 72 80 72 90 73 75 80 75 90 77 79 80 79 90 81 82 80 83 90 84 85 80 85 90 86 90 87 88 88 88 89 90 91 92 92 93 95
96 96 97 98 98 99 101 101 102 106 106 106 107 109 111 111 113 115 115 117 118 119 120 121 130
- 1-20 80 2002 20 80 1975 8
- 2-20 60 70 80 1980 830 2001 13 211 14.9 14.1% 80 80 Direct Investment Position Value of Equity Net Outstanding Loans Historical Cost Replacement Cost, Current Cost Market Value Sylvia E. Bargas, Direct Investment Positions for 1999, Country and Industry Detail, Survey of Current Business, July 2000.
- 3-90 90 90 80 1980 547.2 2001 7 528.1 12.8 13.3% 13.1 9.3 90 90
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- 5 - Foreign Direct InvestmentFDI 10% 70 80 2001 1.32 20 80 20 80 70 1914 12.9 Maria Borga and Daniel R. Yorgason, Direct Investment Position for 2001: Country and Industry Detail, Survey of Current Business, July 2002. 2002 440 527.43 http://www.moftec.or.jp/cn/xinxiku.
- 6-9.2% 6 46.4% 3 23.2% 1.35 10.4% 1.32 10.2% 1914 38% 1876 1970 19291933 1914 143 1938 264 1945 200 1940 29 1945 25 1-1 1914 18% 1935 25% 1940 21% 1945 15% Peter Buckley and Brian R.Roberts, European Direct Investment in the USA before World War I, St. Martin's Press, New York, 1982, P14. 1994 1995 10 174 175 Peter Buckley and Brian R.Roberts, European Direct Investment in the USA before World War I, St. Martin's Press, New York, 1982, P14. William A. Degregorio 1993 95 1995 1 2 J P 1994 9 27 1995 1 1213 1999 7 4
1-1 - 7-1914 1919 1924 1929 1935 1940 1945 13 9 10 14 16 29 25 The Statistical History of the United States, Basic Books Inc., Publishers, New York, 1976, p869. 30 1939 8 30 9 9 9 16 1940 4 10 Executive Order 8389 1941 1934 15 5.7 37% 3.6 2.5 70 1995 1 2122 1989 3 27 1995 1 1920
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