第12章國際資源流動和跨國公司課件

1、Chapter 12 international resource movements and multinational corporations （國際資源流動與跨國公司） Main points of this chapter: motives for international capital flows （國際資本流動的動機） welfare effects of international capital flows （國際資本流動的福利影響） multinational corporations （跨國公司） motives for and welfare effects of

2、international labor migration （國際勞工遷徙的原因及其福利效應）1Chapter 12 international resoTypes of international capital flowsinternational capital flow國際資本流動pure currency assets flow 單純貨幣資產(chǎn)流動Foreign direct investments （FDI）國外直接投資international debit and credit國際借貸international portfolio investments 國際證券投資2Types

3、of international capital12. 3 motives for international capital flows 12.3A motives for international portfolio investments earn higher returns risk diversification312. 3 motives for internationa 12.3B motives for foreign direct investments earn higher returns risk diversification horizontal integra

4、tion vertical integration avoid tariffs and other restrictions take advantage of government subsidies share the profits of a foreign market4 12.3B motives for foreign d horizontal integrationThe production abroad of a differentiated product that is also produced at home.在國外生產(chǎn)一種與國內產(chǎn)品同類的有差異的產(chǎn)品。 vertic

5、al integrationThe expansion of a firm backward to supply its own raw materials and intermediate products and/or forward to provide its own sales or distribution networks.公司為控制原料和中間品的供應而向后與其生產(chǎn)廠商合并，及（或）為控制銷售網(wǎng)絡而向前與銷售商合并。 5 horizontal integration5國外直接投資（FDI）國外公司在本國創(chuàng)立新企業(yè)國外公司并購本國的企業(yè)外國公司和本國企業(yè)共同建立合資企業(yè) FDI指國

6、外公司對本國進行實物資產(chǎn)投資，包括對本國企業(yè)的并購、在本國建立合資或獨資企業(yè)，進行廠房和設備投資，購買房地產(chǎn)等。FDI不包括證券投資，F(xiàn)DI的主要形式是：6國外直接投資（FDI）國外公司在本國創(chuàng)立新企業(yè) FDIEM 資本BA從A國轉移到B國，使兩國利率均為BE，這使得世界的總產(chǎn)出增加EGM，其中A國得到EGR，B國得到ERM。B國的總產(chǎn)出增加ABEM，其中外國投資者獲得ABER，余下ERM作為B國國內的凈所得。 VMPKAGRrrCHNTVMPKBA國B國 B AOAOBF圖12.1 國際資本轉移的產(chǎn)出和福利效應12.4A effects on the investing and host c

7、ountries 對資本輸入國與輸出國的作用 J7EM 資本BA從A國轉移到B國，使兩國利率均為BE affect the balance of payments of the investing and host countries. affect the revenue of both countries. affect the investing nations technological lead and host countrys control over its economy. 12.4B other effects on the investing and host count

8、ries 對資本輸入國與輸出國的作用 8 affect the balance of paymentmultinational corporations（MNCs）are firms that own,control, or manage production facilities in several countries.跨國公司是指在多個國家擁有、控制和管理生產(chǎn)設施的公司。 12.5 Multinational Corporations 跨國公司 Parent firm ForeignaffiliateForeignaffiliateForeignaffiliate9multination

9、al corporations（MNC全球有6.3萬個跨國母公司和80萬個分支機構；跨國公司產(chǎn)值占世界工業(yè)生產(chǎn)總值的40%-50%;世界上500家最大跨國公司控制了75的全球貿易;FDI和全球技術轉讓的90%是由跨國公司控制的。10全球有6.3萬個跨國母公司和80萬個分支機構；1012.5A reasons for the existence of Multinational Corporations 跨國公司存在的原因 Ensure their supply of foreign raw materials and intermediate products: vertical integr

10、ation. Protect and exploit their monopoly power, adapt their products to local conditions and tastes: horizontal integration. Economies of scale in production, financing, research and development, and the gathering of market information. Buy up local competition firm to maintain monopolistic profit.

11、 Minimize its tax by transfer pricing.1112.5A reasons for the existen transfer pricing: the overpricing or underpricing of products in the intrafirm trade of multinational corporations in an attempt to shift income and profits from high-tax to low-tax nations. 轉移定價：跨國公司在公司內部交易時，有意過高或過低定價，目的是使收入或利潤從稅

12、率高的國家轉向稅率低的國家。12 transfer pricing: the over12.5B problems created by multinational corporations in the home country 跨國公司在母國引起的問題 the loss of domestic jobs resulting from FDI export of advanced technology（make profits, undermine technological superiority） reduce tax revenues and tax base of the home

13、country by transfer pricing make government control over the economy in the home nation more difficult.1312.5B problems created by mul12.5C problems created by multinational corporations in the host country 跨國公司在東道國引起的問題 dominate the economies of host country keep the host country technologically de

14、pendent extract most of the benefits from host country low price paid to host country,overexploitation of nature resources.1412.5C problems created by mul對子公司所在國的負面影響控制所在國的經(jīng)濟；跨國公司將大量利潤匯回母國，導致所在國經(jīng)濟“增長而不發(fā)展”。吸納所在國的高級人才；跨國公司不愿意轉讓關鍵技術，導致所在國對跨國公司技術的依賴。15對子公司所在國的負面影響控制所在國的經(jīng)濟；1512.6 motives for and welfare

15、effects of international labor migration 國際勞工遷徙的原因及福利分析12.6 A motives for international labor migration 國際勞工遷徙的原因Escape political and religion oppression；Earn higher real wages and income abroad;The periodical fluctuation of world economy 1612.6 motives for and welfare 國際勞動力流動概況流動的形式：移民(permanent mi

16、gration) 和外籍勞工(temporary migration )，前者指到別國定居，最終成為該國居民；后者指在別國臨時工作；流動的性質：到美、加和澳大利亞等地多是永久性移民；到日本、歐洲和中東多是外籍勞工；流動的方向：從人口多的國家流向人口少的國家；從工資低的發(fā)展中國家流向工資高的發(fā)達國家。17國際勞動力流動概況流動的形式：移民(permanent mi12.6B welfare effects of international labor migration 國際勞工遷徙的福利效應 before migration: wages in nation 2 are higher than in nation 1. after migration（nation1 nation 2）:wages are equal in two nations.（wages rise in nation 1 and fall in nation 2）total product falls in nation1 and rises in nation 2.Net increase in world output.1812.6B welfare effects of inte圖12.2 國際勞工遷徙的產(chǎn)出和福利效應 從1國移民勞工AB到2國，使兩國工資率均為w2，這使1國