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The heterogeneous sectoral productivity impacts of FDI on real exchange rate
The Journal of International Trade & Economic Development ( IF 2.2 ) Pub Date : 2021-06-08 , DOI: 10.1080/09638199.2021.1936135
Fei Guo 1, 2 , Eric Evans Osei Opoku 3 , Isabel Kit-Ming Yan 2
Affiliation  

The Balassa-Samuelson effect provides a theoretical explanation for the deviation of the real exchange rate (RER) from its purchasing power parity based on the heterogeneous productivity growth in the tradable and non-tradable sectors. This paper bridges the literature on foreign direct investment (FDI) spillovers with the Balassa-Samuelson effect by theoretically and empirically showing that (1) the productivity impact of inward FDI is notably larger in the tradable sector than in the non-tradable sector, generating an appreciation effect on the RER; (2) the magnitude of heterogeneous productivity impacts of inward FDI in the tradable and non-tradable sectors is commensurate with the technological backwardness in the two sectors relative to the world leaders.



中文翻译:

FDI 对实际汇率的异质部门生产率影响

巴拉萨-萨缪尔森效应为实际汇率 (RER) 与其购买力平价的偏差提供了理论解释,这种偏差基于可贸易和非贸易部门的异质生产率增长。本文通过理论和实证表明 (1) 流入 FDI 对贸易部门的生产率影响明显大于非贸易部门,从而将外国直接投资 (FDI) 溢出效应与巴拉萨-萨缪尔森效应联系起来。对 RER 的升值效应;(2) 贸易和非贸易部门外商直接投资对生产率影响的异质性程度与这两个部门相对于世界领先者的技术落后程度相称。

更新日期:2021-06-08
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